India Crypto Exchange CoinDCX Buys BitOasis in Mideast Expansion

Indian crypto exchange CoinDCX has acquired Dubai-based BitOasis, a first step in the company’s plans to expand globally.

The purchase will give CoinDCX, which first invested in BitOasis last year, a “formidable foothold across the MENA region, catering to a diverse range of retail and institutional clients,” the Indian firm’s co-founder Sumit Gupta said in a statement. The company didn’t disclose the terms of the deal.

The purchase comes as Dubai vies with the likes of Singapore and Hong Kong to establish itself as a nexus for crypto businesses. CoinDCX has identified regions that offer clear regulatory frameworks for ...