India-based crypto exchange Coin DCX acquires Dubai's BitOasis
The firms did not disclose the transaction value, but BitOasis said in a separate statement that CoinDCX, which had already acquired a stake in the business last year, now owns the full share capital of the Dubai-based company.
BitOasis added that the brand and leadership team would remain unchanged following the deal, which is set to help the firm strengthen its position in the region — where it serves 15 countries — and enhance its services.
The United Arab Emirates is aiming to become a global centre for the crypto industry and Dubai, considered the Gulf's tourism and business hub, set up watchdog VARA in 2022 to regulate the emerging virtual asset sector.
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View Details» Founded in 2016, BitOasis provides broker-dealer services to qualified retail and institutional investors under its minimum viable product (MVP) operational licence provided by VARA. It recently obtained a similar licence from the Central Bank of Bahrain.
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