India’s CoinDCX Leaps Into MENA with BitOasis Acquisition

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As a seasoned crypto investor with experience in both the Indian and Middle Eastern markets, I’m thrilled to witness this strategic merger between CoinDCX and BitOasis. This acquisition marks an essential milestone for regional cryptocurrency trading and holds immense potential for growth.

CoinDCX, India’s leading exchange, has announced its acquisition of BitOasis, a prominent platform in the Middle East and North Africa (MENA). This strategic merger marks a significant leap forward in regional cryptocurrency trading, combining CoinDCX’s robust Indian user base of over 15 million with BitOasis’ extensive reach across the GCC.

Established in 2016, BitOasis emerged as the preferred choice for cryptocurrency fans in MENA region. It simplified transactions in various fiat currencies and provided an extensive selection of more than 60 digital tokens.

Emphasizing regulatory compliance and customer trust significantly, BitOasis has acquired crucial licenses from the relevant authorities in Bahrain and the UAE. This achievement underscores their commitment to maintaining a high operational standard in the Middle Eastern market.

Sumit Gupta, the Co-Founder of CoinDCX, underscored the significance of safeguarding investors and adhering to regulations in the day-to-day business activities of both entities. He emphasized CoinDCX’s dedication to promoting transparency and compliance as key tenets that will shape its growth strategy in the more developed markets of MENA (Middle East and North Africa).

As a market analyst, I’m excited about Gupta’s plans to utilize BitOasis’ existing regulatory connections and licensing to boost crypto accessibility and liquidity throughout the region.

Ola Doudin, the Co-Founder and CEO of BitOasis, shared Gupta’s perspective, highlighting the compatibility of their platforms’ core principles. She emphasized BitOasis’ achievements in regulatory compliance and customer service, citing their trailblazing role in registering with the UAE Financial Intelligence Unit and obtaining necessary licenses from regulatory bodies.

Crypto users in MENA can look forward to numerous advancements with the acquisition, bringing new services, greater liquidity, and superior user experiences. Both CoinDCX and BitOasis remain dedicated to preserving their unique identities and leadership teams, ensuring a smooth transition that promotes innovation and prosperity within the burgeoning crypto market in this region.

As CoinDCX and BitOasis embark on this new partnership, they envision more than just expanding their market reach in MENA. Instead, they aim to revolutionize the experience of investing in cryptocurrencies by making it more accessible and secure for millions in the region. Leveraging their collective knowledge and resources, the future of crypto trading in MENA promises a brighter and more promising horizon.

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2024-07-03 16:36