Indian cryptocurrency exchange CoinDCX has bought fellow trading platform BitOasis for an undisclosed amount, which will allow the expanded companies to extend its global plans to grow its share in the Middle East and North Africa (MENA) region.
BitOasis said in a statement today that the successful acquisition by CoinDCX, India’s largest crypto exchange has been agreed for an undisclosed amount. BitOasis has previously received a strategic investment from CoinDCX in August 2023.
As part of the deal the BitOasis’ brand and leadership team will remain unchanged following the acquisition. Founded in 2016 by Ola Doudin, Tarek Kaylani and Daniel Robenek, BitOasis has emerged as a platform for retail, institutional and high-net-worth individuals across the GCC and the broader MENA region.
Ola Doudin, Co-Founder & CEO of BitOasis, said, “CoinDCX’s acquisition marks an exciting new chapter for BitOasis, one that propels us forward on a much stronger ground. Since the start of BitOasis, trust and regulatory compliance has been a key pillar in our mission to drive crypto adoption across MENA.
Established in 2018, CoinDCX is one of the most preferred exchanges in India, with user base of over 15 million. Offering access to over 500+ crypto assets and facilitating average quarterly trading volumes exceeding US$840m in 2024.
Sumit Gupta, Co-Founder of CoinDCX, said, “Building on six years of success and supporting more than 15m Indians in their crypto journey, CoinDCX aims to become the go-to trading platform for crypto worldwide. For us, investor protection has been paramount, and we have distinguished ourselves in India with unwavering compliance.
