India’s largest crypto exchange, CoinDCX, is making waves with the announcement of its purchase of BitOasis, a leading virtual assets trading platform in the Middle East and North Africa. This strategic move, announced in a press release on July 3, 2024, marks the company’s first step in its strive for global expansion.
In addition, considering CoinDCX's newly acquired license from the Central Bank of Bahrain to operate within the region and the recent continuation of its activities in Dubai, the acquisition of BitOasis, a crypto giant within the area, is expected to empower the crypto exchange and facilitate its global expansion plan significantly.
CoinDCX Co-founder Speaks On Global Expansion Desire
Speaking about the acquisition and its implications, Sumit Gupta, the Co-Founder of CoinDCX, commented that the BitOasis acquisition was crucial for CoinDCX's expansion and marks an exciting new chapter for the company.
Taking to his verified X handle, he broke the news to his 132K followers; “Excited to share that CoinDCX has acquired BitOasis, the leading crypto platform in the MENA region!” He added, “In six years, CoinDCX has gone from a small startup to a multi-product and now multi-country organization.”
He reemphasized CoinDCX’s commitment to exceptional service delivery and customer satisfaction. Going further, he disclosed that following the acquisition, users should expect remarkable additions to the company's product portfolio, improved trading options and service delivery, increased access to an expanded range of token offers, increased liquidity, and an overall enhancement in user experience.
Excited to share that CoinDCX has acquired BitOasis, the leading crypto platform in the MENA region!
— Sumit Gupta (CoinDCX) (@smtgpt) July 3, 2024
In six years, @CoinDCX has gone from a small startup to a multi-product and now multi-country organization.
This first-of-its-kind transformative deal will empower us to expand… pic.twitter.com/tELFPenxUI
A Brief Overview Of CoinDCX Subtle Growth
CoinDCX, a company founded by Gupta and Neeraj Khandelwal in 2018, boasts a user base exceeding 1.4 core. Its services include offering customers easy access to Web3 experiences and democratizing investments in virtual digital assets while ensuring user safety and security.
In 2021, the company became India’s first crypto unicorn after it raised $90 million in Series C from platforms including B Capital Group, Coinbase Ventures, and Polychain Capital.
Additionally, the cryptocurrency giants receive support from investors, including Pantera, Kingsway, Brain Capital Ventures, Cadenza, Draper Dragon Republic, and many others.
