Dubai-based BitOasis, the leading cryptocurrency platform in the Middle East and North Africa, is poised for significant expansion following a new funding agreement between its parent company, CoinDCX, and the global crypto giant Coinbase. The investment, an extension of a previous round, reinforces CoinDCX’s market position and is set to enhance BitOasis’s product offerings and reach across the MENA region.
Strategic Investment Boosts Regional Ambitions
The completion of the funding is subject to regulatory approvals and will bring CoinDCX’s post-money valuation to $2.45 billion. This new capital infusion is earmarked to enhance the company’s product suite, introduce new onchain use cases for both the UAE and India, and support expansion into new markets. The move comes as the MENA region solidifies its status as one of the fastest-growing virtual asset markets globally, with countries like the UAE making substantial investments in digital infrastructure.
A Vote of Confidence in MENA’s Crypto Market
Coinbase, which has been an investor in CoinDCX since 2020, views this increased stake as a strategic partnership in high-growth markets. “India and the Middle East are among the most dynamic regions for crypto adoption and innovation. We’re excited to support CoinDCX’s continued growth and look forward to expanding our partnership in the months ahead,” said Shan Aggarwal, Chief Business Officer at Coinbase. Sumit Gupta, Co-founder of CoinDCX, added that Coinbase’s decision is a strong validation of their long-term vision and responsible growth strategy, highlighting the synergies in building a compliant crypto ecosystem.
Empowering MENA Traders
For BitOasis, this development directly translates to enhanced capabilities. Ola Doudin, Co-founder & CEO of BitOasis, stated, “With CoinDCX’s backing for over a year and this fresh funding, we will unlock deeper liquidity, stronger security, and a significantly enhanced product suite.” Doudin emphasized the company’s goal to empower over 1 million traders across MENA by 2026, reaffirming its commitment to setting the regional standard for compliance, innovation, and customer experience. BitOasis currently holds a broker-dealer virtual assets trading platform license from Dubai’s Virtual Assets Regulatory Authority (VARA).
About BitOasis
Headquartered in Dubai, BitOasis is the largest and most trusted homegrown regional cryptocurrency trading platform in the Middle East and North Africa. Established in 2016, it serves as a key platform for both first-time buyers and professional traders. Available in 13 countries, BitOasis provides a secure way to buy, hold, and sell over 73 cryptocurrencies. The platform has processed more than $7.5 billion in trading volume and has raised over $40 million in funding from leading regional and global investors.
Source: Zawya
