- In August of last year, CoinDCX strategically invested in BitOasis.
- The company’s name and management team will stay the same as per the announcement.
CoinDCX, the biggest cryptocurrency exchange in India, has expanded into the Middle Eastern and North African market by acquiring BitOasis, a cryptocurrency exchange based in Dubai. The cryptocurrency exchange has taken the first move toward its goal of expanding internationally with this. In August of last year, CoinDCX strategically invested in BitOasis.
A news statement dated July 3 announced that CoinDCX has purchased BitOasis, a top platform for trading virtual assets. While BitOasis and its partners in the MENA region strike groundbreaking collaborations, the company’s name and management team will stay the same.
Navigating New Markets and Opportunities
Following the reopening of its Dubai platform and the recent licensing in Bahrain, BitOasis has strengthened its presence in the area with this purchase. Companies will take advantage of the established industry and the public’s enthusiasm for cryptocurrency investments. Since its introduction, the firm has registered a trading volume of over $6 billion and allowed users to exchange over 60 tokens using fiat currencies including USD, AED, and SAR.
Sumit Gupta, Co-Founder of CoinDCX stated:
“For us, investor protection has been paramount, and we have distinguished ourselves in India with unwavering compliance. We are committed to upholding the same standards wherever we operate. This principle will continue to guide our actions as we navigate new markets and opportunities.”
In August 2023, CoinDCX hinted to BitOasis’s success and intentions to expand into worldwide markets as a result of its strategic investment, building on the success in India. The deal, according to BitOasis CEO Ola Doudin, ushers in a new era for both businesses, which are united in their steadfast dedication to their clients.
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