Indian Crypto Exchange Coindcx Makes Global Move via Bitoasis Purchase

Indian cryptocurrency exchange Coindcx is expanding globally through its acquisition of Bitoasis, a prominent digital asset platform in the Middle East and North Africa (MENA) region. 

This strategic move strengthens Coindcx’s foothold in MENA while allowing Bitoasis to maintain its branding and leadership. Sumit Gupta, CEO of Coindcx, highlighted the significance of this milestone, marking their evolution from a startup in India to a multi-country organization. Investors of Bitoasis will receive equity in Coindcx as part of the deal, underscoring its profitability for them. Bitoasis, headquartered in Dubai and established in 2016, operates across 15 countries and supports over 60 cryptocurrencies. It has processed more than $6 billion in trading volume and recently obtained a new license from the Central Bank of Bahrain. 

Coindcx, founded in 2018, boasts a user base exceeding 15 million and facilitates substantial quarterly trading volumes. This acquisition signals a new era of growth and maturity for both platforms in the global cryptocurrency market.

Clever Robot News Desk 5^th July 2024