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Published on
May 15, 2025
5 min read
CoinDCX Eyes MENA Growth with Strategic Entry into Bahrain via BitOasis
India’s top crypto exchange, CoinDCX, has formally expanded its global presence by entering the Middle East and North Africa (MENA) region. According to CNBCTV18, this expansion comes after the acquisition of BitOasis in 2024 and is a part of a strategy to increase its global revenue. With its investment in BitOasis, the exchange has taken its first major step in the region, starting CoinDCX Middle East expansion initiatives.
BitOasis Enters Bahrain with Regulatory Approval
BitOasis , a key player in the MENA region’s crypto space, has been granted a full license by the Central Bank of Bahrain. The Bahrain virtual asset license enables BitOasis to operate as a regulated virtual asset service provider within the country. With this license, BitOasis is now set to commence its retail activities in Bahrain.
The strategic step enables CoinDCX to leverage the emerging cryptocurrency adoption in the Gulf region. BitOasis’ foray into Bahrain offers a robust entry point into the wider GCC crypto market, which has grown with increasing interest in digital assets and blockchain technology.
Data from IMARC Consulting shows that the GCC crypto market was worth $744.3 million in 2024 and is expected to grow to $3.5 billion by 2033. This growth reflects an annual rate of 16.75%. Additionally, about 38% of crypto users in the region earn more than $15,000 per year.
CoinDCX Sees Opportunity in the Region’s Rapid Adoption
With this launch, CoinDCX’s Middle East expansion is expected to bring more secure and compliant crypto trading options for local users. CoinDCX acquired a controlling stake in BitOasis in 2024, and this development indicates the group’s intention to operate beyond India.
The company’s co-founder Neeraj Khandelwal shared that CoinDCX sees a strong growth opportunity in North Africa, and is also actively working on digital asset rules and framework across the region.
“Through BitOasis, we aim to provide a regulated and safe crypto experience to users in the Middle East and North Africa. This region is increasingly becoming a global hub for digital assets,” said Khandelwal.
Focus on Compliance and Safety
BitOasis noted that being comprehensively licensed in Bahrain demonstrates its continued commitment to compliance and consumer protection. With regulatory certainty improving in nations such as the UAE, Bahrain, and Saudi Arabia, the region is rapidly emerging as a desired location for crypto businesses.
In being compliant with such regulations, BitOasis and CoinDCX seek to establish trust and security for the users in the region. This comes during a time when global crypto exchanges are under greater scrutiny from regulators.
This step opens doors for CoinDCX to further expand across the MENA region. The company is exploring new markets in both the Middle East and North Africa to increase adoption and strengthen its presence. CoinDCX’s growth strategy in North Africa will likely include partnerships and product offerings tailored to local market needs.
BitOasis’s Co-Founder and CEO Ola Doudin said, “The Bahrain launch represents a continuation of the company’s regional growth plans. CoinDCX’s technology team now manages the backend infrastructure of the platform.”
