CoinDCX Makes Strategic Acquisition of BitOasis, Expanding Reach to MENA Region

CoinDCX Acquires UAEs BitOasis
Preeti Bali / 8:09 am / July 5, 2024

In a move signifying global ambitions, CoinDCX, a prominent Indian cryptocurrency exchange, has finalized the acquisition of BitOasis. The deal grants CoinDCX complete ownership (100% stake) of BitOasis, a well-established virtual asset trading platform operating in the Middle East and North Africa (MENA) region.

This acquisition comes on the heels of a strategic investment made by CoinDCX in BitOasis back in August 2023. The move signals CoinDCX’s intent to broaden its footprint beyond the Indian market and tap into the burgeoning cryptocurrency landscape of the MENA region.

Integration and Continued Growth Under the BitOasis Banner

Following the successful acquisition, the BitOasis team will become an integral part of the CoinDCX organization. However, to ensure a smooth transition and leverage BitOasis’s established brand recognition, the existing leadership team will continue to manage day-to-day operations under the trusted BitOasis name.

Combining Strengths: A Boon for Users

BitOasis boasts a remarkable track record, having facilitated over $6 billion in trading volume and attracting significant investment capital exceeding $40 million. This impressive achievement, coupled with CoinDCX’s robust infrastructure and suite of financial products, paves the way for a powerful combined entity.

CoinDCX: A Rising Star in the Cryptosphere

CoinDCX has emerged as a major player in the Indian cryptocurrency market. The company boasts a global presence with features like instant deposits and withdrawals, along with a comprehensive range of crypto-based financial services. CoinDCX achieved unicorn status in August 2021 after a successful Series C funding round that yielded $90 million. The company’s growth trajectory continued with an additional $135 million raised in April 2022, propelling its valuation past the coveted $2 billion mark.

This acquisition signifies CoinDCX’s commitment to international expansion and its vision to become a leading force in the global cryptocurrency ecosystem. The combined expertise and resources of CoinDCX and BitOasis are poised to create a formidable presence in the MENA region, offering users a secure and feature-rich platform for their cryptocurrency needs.

More Stories