Dubai-based BitOasis recently acquired a license to act as a broker-dealer in Bahrain.
CoinDCX is among the most prominent crypto exchanges in India, boasting a user base of over 15 million.
Indian cryptocurrency exchange CoinDCX bought fellow trading platform BitOasis for an undisclosed amount, marking its first expansion into the Middle East and North Africa (MENA).
The acquisition will provide a boost to BitOasis’ plans to expand its presence across the region, according to an emailed announcement on Wednesday.
It also follows BitOasis winning a license to operate as a broker-deal in Bahrain. The Dubai-based company is also licensed in its native United Arab Emirates.
CoinDCX is among the most prominent crypto exchanges in India, boasting a user base of over 15 million and quarterly spot trading volumes of more than $840 million.
CoinDCX did not respond to CoinDesk’s request for further information.