CoinDCX-Backed BitOasis Expands to Bahrain, Deepens Presence in MENA

Make in India, Built for the World: India’s Largest Homegrown Exchange Accelerates Global Expansion, While Staying True to Its ‘Make in India’ Vision

CoinDCX, India’s largest crypto exchange, today announced the official launch of BitOasis operations in Bahrain. This launch marks a significant step in CoinDCX’s broader strategy to expand BitOasis’ presence across the Middle East and North Africa (MENA) region.

CoinDCX acquired BitOasis in 2024, creating an opportunity to accelerate both companies’ growth plans. BitOasis is the leading virtual assets trading platform in the Middle East and North Africa, boasting the highest trading volumes in Emirati Dirhams.

“We are launching in Bahrain with a Crypto-Asset Services License from the Central Bank of Bahrain to provide the best possible trading services for retail, corporate and institutional users. We will be offering a seamless and user-friendly experience with advanced features for diverse traders, along with a dedicated support team to assist throughout their trading journey,”

added Ola Doudin, CEO and Co-founder of BitOasis.

BitOasis will also be introducing premium services for high-net-worth individuals and institutional clients in Bahrain, which will include exclusive VIP offerings and dedicated relationship support. The platform will also support local bank transfers for seamless deposits and withdrawals across the GCC.

“This launch is a testament to the rapid progress we’ve made together in the past year. We’re seeing incredible demand for crypto in the MENA region, thanks in part to the clear regulatory frameworks being put in place and the growing investor appetite.

CoinDCX brings the scale and innovation of a ‘Make in India’ platform, while BitOasis provides unmatched regional credibility. The results speak for themselves—BitOasis has seen a 4x revenue growth since the acquisition, and now contributes 20% to our total revenue.

We are on track to see the MENA region generate over 30% of CoinDCX’s total revenue by 2026, and we’ll continue to invest in expanding our presence and services across the region.”

This milestone comes at a time when the MENA region is emerging as one of the fastest-growing virtual asset markets in the world, driven by forward-looking government initiatives across the GCC.

Countries like the UAE are making significant investments in blockchain and digital infrastructure, signaling strong institutional support for the long-term growth of the sector.

This commitment is further amplified by a young, tech-savvy population and proactive regulators working to establish a compliant and thriving crypto ecosystem.

With internet penetration exceeding 99% in the UAE and nearly 60% of the region’s population under the age of 30, the GCC stands out as one of the most digitally native markets in the world, setting the stage for large-scale crypto adoption.

The numbers tell the story. According to IMARC Consulting, the GCC crypto market was valued at $744.3 million in 2024 and is projected to reach $3.5 billion by 2033, growing at a CAGR of 16.75%.

Additionally, approximately 38% of crypto users in the region have annual incomes over USD 15,000, highlighting the financial capability of the user base.

Since its inception in 2016, BitOasis has processed over USD 7.4 billion in trading volume and has raised over USD 40 million in funding.

This expansion into Bahrain follows BitOasis securing a full Virtual Asset Service Provider (VASP) License from Dubai’s Virtual Assets Regulatory Authority in December 2024.

Earlier this year, CoinDCX acquired a majority stake in BitOasis, a leading crypto exchange in the Middle East and North Africa (MENA) region.

CoinDCX’s Web3 arm Okto Chain is leveling up chain abstraction by building a fully expressive orchestration layer.

Through CoinDCX Ventures, we have invested in over 15 innovative Web3 projects, reinforcing our dedication to the Web3 ecosystem.

Our flagship educational initiative, #NamasteWeb3 aims to empower Indians with crypto 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.

CoinDCX is propelling India towards the decentralized future of Web3 with an unwavering focus on safety, simplicity and compliance.