Cryptocurrency exchange CoinDCX has announced the acquisition of a 100% stake in BitOasis, a prominent virtual asset trading platform operating in the Middle East and North Africa (MENA) region.
CoinDCX had previously made a strategic investment in BitOasis in August 2023, signalling its interest in the growing MENA market. This acquisition marks a significant step in CoinDCX’s expansion strategy, enhancing its global footprint and capabilities.
With the acquisition, BitOasis’ team will integrate into CoinDCX, maintaining the BitOasis brand under its existing leadership. This continuity aims to preserve BitOasis’ market presence and leverage its regional expertise.
BitOasis has reported impressive performance metrics, having facilitated over $6 billion in trading volume and securing more than $40 million in venture funding from investors. These achievements underscore the platform’s robust growth and strong market position.
CoinDCX, renowned for its comprehensive suite of crypto-based financial products and services, has been expanding its operations worldwide. The company offers instant deposit and withdrawal facilities, catering to a broad user base.
CoinDCX achieved unicorn status in August 2021 after raising $90 million in its Series C funding round. The firm further strengthened its financial position by securing an additional $135 million in April 2022, pushing its valuation past the $2 billion mark. This acquisition of BitOasis aligns with CoinDCX’s mission to become a leading global cryptocurrency exchange, offering unparalleled access and services to users around the world.
