In a bid to expand its global footprint, CoinDCX, the largest crypto exchange in India, on Wednesday, July 3, announced the acquisition of Dubai-based BitOasis, a leading virtual assets trading platform. The acquisition’s financial details were not disclosed.

The move follows CoinDCX’s strategic investment in BitOasis in August 2023.

The two market leaders joining forces marks a first-of-its-kind, transformative deal in the Middle East and North Africa (MENA) region.

In a statement, Sumit Gupta, Co-Founder of CoinDCX, said, “Building on six years of success and supporting more than 15 million Indians in their crypto journey, CoinDCX aims to become the go-to trading platform for crypto worldwide.

“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.”

He added, “Our expansion strategy begins with the MENA region, capitalizing on its mature market and the population’s keen interest in crypto investment.”