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Cryptocurrency platform BitOasis, the leading digital asset exchange in the Middle East and North Africa (MENA) region, has announced that its parent company CoinDCX has entered into a funding agreement with global crypto platform Coinbase.
The investment, subject to regulatory approvals and customary closing conditions, extends CoinDCX’s previous funding round and will raise the firm’s post-money valuation to $2.45 billion. The new capital aims to strengthen CoinDCX’s product suite, drive onchain use cases across India and the UAE, and support entry into new markets.
Founded in 2018, India-based CoinDCX is the country’s largest crypto exchange, serving more than 20 million users. The company acquired Dubai-based BitOasis in 2024 to anchor its international expansion. CoinDCX is now evolving into DCX Group, an ecosystem spanning exchanges, Web3 ventures, and its Okto wallet platform.
Coinbase (NASDAQ: COIN), one of the world’s most established crypto platforms, operates across more than 100 countries and provides infrastructure for individuals, institutions, and developers to engage in the onchain economy.
The latest funding follows a period of accelerating digital asset adoption across the MENA region. The UAE in particular has established itself as a hub for blockchain innovation through progressive regulation under Dubai’s Virtual Assets Regulatory Authority (VARA) and state-backed investment in Web3 infrastructure.
“India and the Middle East are among the most dynamic regions for crypto adoption and innovation. We’re excited to support CoinDCX’s continued growth and look forward to expanding our partnership in the months ahead.”
— Shan Aggarwal, Chief Business Officer, Coinbase
"Coinbase has been an investor in CoinDCX since 2020. Its decision to infuse more capital is a strong validation of CoinDCX’s long-term vision and responsible growth strategy. Coinbase is globally recognised for building compliant-first crypto businesses. We see strong synergies with Coinbase in building a compliant and regulatory-friendly crypto ecosystem in India, MENA and beyond."
— Sumit Gupta, Co-founder, CoinDCX
"BitOasis has always championed trust, delivering the best user experience, and maintaining a robust platform. With CoinDCX's backing for over a year and this fresh funding, we will unlock deeper liquidity, stronger security, and a significantly enhanced product suite. This development will advance our ambition to empower over 1 million traders across MENA by 2026. We remain committed to setting the gold standard for compliance, innovation, and customer experience."
— Ola Doudin, Co-founder & CEO, BitOasis
BitOasis remains the region’s leading crypto trading platform, licensed under VARA as a broker-dealer for virtual asset trading. The firm supports deposits and withdrawals via local bank transfers and provides VIP services for institutional and high-net-worth clients. Since its founding in 2016, BitOasis has processed over $7.5 billion in trading volume and raised more than $40 million in funding from investors including CoinDCX, Wamda Capital, Jump Capital, Pantera Capital, and Global Founders Capital.
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