Dubai-based BitOasis, the leading crypto asset trading platform in the Middle East and North Africa (MENA) region, on Friday said that it has secured investment from CoinDCX, India’s highest-valued Virtual Asset Service Provider (VASP).
The other investors of BitOasis include Wamda Capital and Jump Capital. As industry leaders, both CoinDCX and BitOasis have focused on driving transparency and customer protection forward in their respective markets.
The new capital will support BitOasis’ vision to amplify its regional presence, ensure sustainable growth, and ambitiously drive its roadmap as it continues securing further licenses in the region and serving retail and institutional clients, continuing on its path towards profitability.
From its launch in 2016, BitOasis’ mission has been to provide the MENA region a safe, secure, accessible, and compliant way to buy, sell and trade in cryptocurrencies. BitOasis and CoinDCX are both committed to proactively meeting their regulatory obligations and satisfying ongoing conditions, upholding the highest standard of responsible behaviour.
Ola Doudin, Co-Founder and CEO of BitOasis said that they were delighted to work with CoinDCX, India’s leading crypto platform.
“From our first conversations, it was clear we share a common vision and synergies across our markets that we look forward to building towards. The investment will allow us to sharpen our focus on perfecting our existing products and expanding across our markets. We are very excited about the opportunities the funding will unlock for us,” he said.
Sumit Gupta, Co-Founder and CEO of CoinDCX said that they were excited about investing in BitOasis, the largest crypto trading platform in the MENA region.
“We have been impressed by BitOasis’s excellent product offering, strong leadership and their persistence to serve customers in the most secure and compliant manner,” Gupta added.
BitOasis is a pioneer of the region’s cryptocurrency ecosystem, serving as the go-to platform for first-time cryptocurrency buyers and professional traders alike.
Available in 15 countries across the region, the platform provides investors a safe and secure way to buy, hold and sell 60+ cryptocurrencies. Since its launch, BitOasis has processed more than $5 billion in trading volume and raised more than $35 million dollars in funding from leading regional and global investors, such as CoinDCX, Wamda Capital, Jump Capital, Pantera Capital, and Global Founders Capital.
Established in 2018, CoinDCX is the preferred crypto exchange in India, trusted by over 1.4 crore registered users. The company’s mission is simple: to provide easy access to Web3 experiences and democratize investments in virtual digital assets.
It prioritises user safety and security, strictly adhering to KYC and AML guidelines. In our commitment to quality, we employ a stringent 7M Framework for the listing of crypto projects, ensuring users access only the safest virtual digital assets.
CoinDCX has partnered with Okto for India to launch a secure multi-chain DeFi app that offers a keyless, self-custody wallet. It aims to simplify the world of decentralized finance (DeFi) by providing a secure, user-friendly, and innovative solution for managing virtual digital assets.
Through CoinDCX Ventures, we have invested in over 15 innovative Web3 projects, reinforcing our dedication to the Web3 ecosystem. Our flagship educational initiative, #NamasteWeb3 empowers Indians with Web3 knowledge, preparing them for the future of virtual digital assets.
CoinDCX’s vision and potential have gained the confidence of global investors, including Pantera, Steadview Capital, Kingsway, Polychain Capital, B Capital Group, Bain Capital Ventures, Cadenza, Draper Dragon, Republic, Kindred and Coinbase Ventures.