CoinDCX Expands into MENA Region with BitOasis Purchase

CoinDCX Enters MENA with BitOasis Acquisition and Regulatory Assurance

CoinDCX, India's biggest cryptocurrency exchange, has taken a major step into the Middle East and North Africa (MENA) region by buying BitOasis, a well-known virtual asset trading platform. This purchase marks CoinDCX's first move into MENA, aiming to take advantage of the region's booming crypto market.

BitOasis, popular for its large trading volumes in Emirati dirhams, offers a strong platform and regulatory approval to CoinDCX. Recently, BitOasis got a Minimum Viable Product Operational License from Bahrain’s Central Bank. This license lets it operate under strict rules as a broker-dealer. This regulatory support ensures that both CoinDCX and BitOasis run safely and within legal boundaries.

Sumit Gupta Statement

Sumit Gupta, co-founder of CoinDCX, stressed that BitOasis will maintain its independence under existing licenses, ensuring compliance with local regulatory authorities. This setup aims to reassure users about the safety and security of their assets, with personal data protected under BitOasis’ privacy policies and applicable laws.

From a user perspective, the purchase promises enhanced trading options and product offerings across both platforms. However, Gupta clarified that user accounts between CoinDCX and BitOasis will not be interconnected, maintaining separate entities to safeguard user privacy and regulatory compliance.

Earlier this year, CoinDCX took an active step by setting aside $1 million to help investors move from unregulated platforms to their approved exchange. This move comes as regulations change for Indian investors, who have about $4 billion invested in cryptocurrency on foreign exchanges.

CoinDCX’s CEO Highlighted its Commitment

Gupta highlighted CoinDCX’s commitment to supporting users through secure deposit channels and incentives like a 1% bonus for those migrating to their compliant platform. This approach highlights their efforts to promote a safe and regulated environment for cryptocurrency trading, addressing concerns raised by recent regulatory changes.

CoinDCX's purchase of BitOasis marks an important move in broadening its reach and entering new markets outside India. As the crypto world keeps changing, deals like this show a trend towards coming together and following rules in the industry.

Conclusion

CoinDCX's purchase of BitOasis not only shows their smart move into the MENA region but also highlights how serious they are about following rules and keeping users' info safe. Both platforms will keep operating independently under strict rules, so users can trade more and feel safer with their crypto deals.

This move positions CoinDCX as a key player in bridging regional cryptocurrency markets, offering users across MENA access to a secure and regulated trading environment.

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