CoinDCX, a leading cryptocurrency exchange platform in India has taken a significant step in its global expansion by acquiring BitOasis, a cryptocurrency exchange based in the Middle East North Africa (MENA) region. According to the announcement, this strategic move marks CoinDCX’s first foray into the international market, aiming to strengthen its presence beyond India.
CoinDCX Acquisition Brings Lots of Benefits
Meanwhile, the financial details of the acquisition have not been disclosed. CoinDCX’s acquisition of BitOasis is set to bring several advantages to users. Firstly, it will broaden the range of crypto assets available for trading. Users of both platforms can look forward to an expanded portfolio of digital currencies, providing more opportunities for diversification and investment.
Additionally, the merger is expected to increase liquidity across the platforms, facilitating smoother and more efficient trading activities. Furthermore, the combined expertise and resources of CoinDCX and BitOasis are anticipated to enhance the overall trading experience.
CoinDCX’s co-founder Sumit Gupta expressed enthusiasm about the acquisition, highlighting it as a pivotal moment in the company’s growth strategy. He emphasized that the collaboration with BitOasis aligns with CoinDCX’s mission to democratize access to digital assets globally.
BitOasis Partners With Mastercard
Recall that BitOasis inked an agreement with the financial service provider and card issuer Mastercard. The partnership helped them roll out cryptocurrency-related payment cards to customers in the UAE region. Notably, these crypto payment cards can be used both on-site and online on e-commerce platforms.
Ultimately, the BitOasis Mastercard crypto card accelerates the adoption of cryptocurrency in the region and also encourages the daily use of digital assets at the Point of Sale (POS) and online merchant platforms. The payment method also ensures consumer protection as it provides for dispute resolution and refunds.
BitOasis and VARA Have a Lot of History
Dubai Virtual Assets Regulatory Authority (VARA) and BitOasis have always had an excellent connection and it was the region’s most trusted crypto exchange. Moreover, Dubai police partnered with BitOasis to combat crypto-related fraud, as reported by TheCoinRise.
The partnership’s primary goal was to educate traders and investors about the sector. BitOasis was also granted the very first minimum viable product operational licenses by VARA, letting it operate as a broker-dealer solution for eligible institutional and individual investors in Dubai.
The post CoinDCX Acquires BitOasis to Expand Globally appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.