CoinDCX expands to the Middle East and North Africa, launches BitOasis in Bahrain

BitOasis Bahrain will operate under a Crypto-Asset Services License from the Central Bank of Bahrain, to deliver secure, compliant trading services for retail, corporate, and institutional users.

Indian crypto exchange CoinDCX announced the official launch of virtual digital asset trading platform BitOasis in Bahrain, as a part of its larger Middle East and North Africa (MENA) region expansion strategy eyeing 30 percent of its revenue from there by 2026.

CoinDCX had acquired BitOasis in 2024, which has remained the leading virtual assets trading platform in the MENA, commanding the highest trading volumes in Emirati Dirhams, CoinDCX said in a statement.

Sumit Gupta, Co-Founder, CoinDCX said, “Our expansion into the MENA region is driven by clear regulatory frameworks, a growing investor appetite, and larger HNI investment ticket sizes. BitOasis brings unmatched regional credibility, while CoinDCX contributes the scale and innovation of a ‘Made in India’ platform.”

“The results have been impressive—BitOasis has seen a 4x revenue growth, now contributing 20 percent to our total revenue. Looking ahead, we anticipate the region will account for over 30 percent of our revenue by 2026,” he added.

Ola Doudin, CEO and Co-Founder of BitOasis said, “BitOasis has always stood for trust, providing the best experience for users, and maintaining a robust platform...CoinDCX’s 200+ strong technology team now powers the platform’s backend, unlocking faster performance, deeper liquidity, stronger security, and a significantly enhanced product suite. Our ambition is clear: to reach one million users across the region by 2026, setting the gold standard for compliance, innovation, and customer experience.”

BitOasis Bahrain will operate under a Crypto-Asset Services License from the Central Bank of Bahrain, to deliver secure, compliant trading services for retail, corporate, and institutional users.

To expand its presence in the region, BitOasis has launched premium services for high-net-worth individuals and institutional clients, featuring exclusive VIP offerings and dedicated relationship support. The platform also supports local bank transfers, ensuring seamless and efficient deposits and withdrawals across the GCC.

BitOasis was founded in 2016, has processed over $7.4 billion in trading volume and raised over $40 million in funding till date. This expansion into Bahrain comes on the heels of BitOasis securing a full Virtual Asset Service Provider (VASP) License from Dubai’s Virtual Assets Regulatory Authority in December 2024.