CoinDCX Acquires BitOasis
Indian cryptocurrency exchange CoinDCX has made a significant move by acquiring fellow trading platform BitOasis, marking its first venture into the Middle East and North Africa (MENA) region. The acquisition, finalized for an undisclosed amount, is poised to strengthen BitOasis’ presence and operations across the MENA region, following the recent acquisition announcement on Wednesday.
Enhanced Expansion Opportunities
The acquisition is expected to provide a significant boost to BitOasis’ expansion plans in the MENA region. With CoinDCX’s backing, BitOasis aims to leverage its newly acquired resources to further establish itself as a leading cryptocurrency exchange in the region. BitOasis recently obtained a license to operate as a broker-dealer in Bahrain, adding to its existing licenses in the United Arab Emirates.
About CoinDCX
CoinDCX, a prominent cryptocurrency exchange based in India, has a substantial user base exceeding 15 million and reports quarterly spot trading volumes surpassing $840 million. The acquisition of BitOasis aligns with CoinDCX’s strategic efforts to expand its operations beyond India and venture into new markets, including the MENA region.
Future Plans and Developments
As the cryptocurrency landscape continues to evolve, the acquisition of BitOasis by CoinDCX signifies a significant step towards establishing a stronger foothold in the MENA market. The collaboration between the two exchanges is expected to drive innovation, enhance user experience, and introduce new opportunities for traders and investors in the region.