India’s largest cryptocurrency exchange, CoinDCX, has announced the acquisition of BitOasis, a leading virtual assets trading platform in the Middle East and North Africa (MENA). The move marks a major expansion for CoinDCX into the rapidly growing crypto markets of the Gulf region.
CoinDCX had earlier made a strategic investment in BitOasis in August 2023, and the full acquisition now strengthens its ambitions to build a global crypto trading platform.
The deal is considered a first-of-its-kind consolidation in the MENA virtual assets ecosystem. Combined with BitOasis’ newly acquired licence in the Kingdom of Bahrain and the reopening of its platform in Dubai, the acquisition will support the company’s plans to expand operations across multiple regulated markets in the region.
CoinDCX’s growing global ambitions
Founded in 2018, CoinDCX has become one of India’s most widely used crypto exchanges with over 15 million users. The platform offers access to more than 500 crypto assets and reported average quarterly spot trading volumes exceeding $840 million in 2024.
The exchange was also the first virtual asset platform in India to register with the Financial Intelligence Unit of India (FIU-IND), implementing strict KYC and compliance standards aimed at strengthening investor protection.
Commenting on the acquisition, Sumit Gupta, Co-Founder of CoinDCX, said the company is aiming to become a global crypto trading destination.
“Building on six years of success and supporting more than 15 million Indians in their crypto journey, CoinDCX aims to become the go-to trading platform for crypto worldwide. Investor protection and regulatory compliance have been central to our approach in India, and we will maintain the same standards as we expand into new markets,” he said.
He added that the MENA region offers strong growth potential, driven by rising crypto adoption and an investment-friendly regulatory environment.
BitOasis’ strong presence in the Middle East
Founded in 2016 by Ola Doudin, Tarek Kaylani and Daniel Robenek, BitOasis has established itself as one of the leading crypto platforms in the Gulf Cooperation Council (GCC) and wider MENA region.
The exchange allows users to buy, sell and hold over 60 digital tokens using fiat currencies such as AED, SAR and USD. Since launch, BitOasis has processed more than $6 billion in trading volume and raised over $40 million in funding from regional and global investors.
Ola Doudin, Co-Founder and CEO of BitOasis, said the acquisition represents a major growth milestone for the platform.
“CoinDCX’s acquisition marks an exciting new chapter for BitOasis. Since our inception, trust and regulatory compliance have been at the core of our mission to drive crypto adoption across the MENA region. With CoinDCX, we share a strong commitment to compliance and customer-centric innovation,” she said.
Expanded services for users
Following the acquisition, BitOasis users are expected to benefit from:
Expanded access to a wider range of crypto tokens
Greater liquidity in trading markets
Enhanced trading tools and services
A broader product portfolio and improved platform experience
Despite the acquisition, BitOasis’ brand and leadership team will remain unchanged, ensuring operational continuity while enabling deeper collaboration between the two companies.
The platform currently operates across 15 countries in the MENA region, and the partnership is expected to accelerate its expansion as regulatory frameworks for digital assets continue to mature.
