Expanding Horizons ( CoinDCX Expands Into MENA with BitOasis Acquisition)

The acquisition of BitOasis is a major milestone for CoinDCX as it marks the company’s first foray outside the Indian market. Earlier this year, CoinDCX announced its intention to go global, identifying the UAE and MENA markets as ideal starting points due to their growing crypto adoption.

CoinDCX Acquires BitOasis for Global Expansion

India's largest crypto exchange, CoinDCX, has acquired BitOasis, a prominent player in the Middle East and North Africa (MENA) crypto market, for an undisclosed amount. This strategic move marks CoinDCX's first major step outside the Indian market, aiming to solidify its presence in the UAE and broader MENA region.

Strengthening Product Offerings and Compliance

CoinDCX's acquisition of BitOasis is set to benefit both companies and their users by enhancing product offerings and ensuring compliance with local regulations. BitOasis, a trusted and regulated exchange in the MENA region, brings a wealth of experience and a strong reputation. Together, the two companies plan to compete with global giants like Binance and Coinbase, leveraging their combined strengths.

Despite the acquisition, BitOasis will continue to operate independently, serving the MENA region without integrating into CoinDCX’s existing infrastructure. This approach ensures continuity and stability for BitOasis users, with no interruptions in service or regulatory compliance.

A New Regulatory License

Recognizing the growing potential of the MENA region for crypto adoption, CoinDCX plans to support BitOasis in maintaining its market leadership. BitOasis, headquartered in the UAE, is the largest crypto trading platform in the region, with significant user bases in the UAE, Jordan, Saudi Arabia, and Egypt.

BitOasis recently secured a minimum viable product (MVP) license from the Central Bank of Bahrain (CBB) to offer crypto services, following a suspension in 2023. This license, approved by Dubai’s Virtual Assets Regulatory Authority (VARA), allows BitOasis to operate as a regulated broker-dealer, ensuring compliance with local legal frameworks.

Assuring User Safety and Data Protection

CoinDCX has assured BitOasis users that their funds and personal data remain secure. Sumit Gupta, co-founder of CoinDCX, emphasized that user accounts will be protected according to BitOasis' privacy policies and applicable laws. Customer funds will be fully segregated and kept safe under regulatory requirements.

“Users’ personal data will remain protected in line with BitOasis’ privacy policy and applicable law and regulation. Users’ assets and funds will remain fully segregated and kept safe in line with applicable regulatory requirements,” Gupta stated.

Conclusion

CoinDCX's acquisition of BitOasis marks a significant milestone in its global expansion strategy. By entering the MENA market, CoinDCX is poised to leverage BitOasis' established presence and regulatory compliance to offer enhanced crypto services and foster greater crypto adoption in the region. This move sets the stage for increased competition with global crypto giants and reinforces the growing importance of the MENA region in the global crypto landscape.

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