BitOasis, the cryptocurrency trading platform in the Middle East and North Africa, on Thursday, launched operations in Bahrain after receiving a license from the Central Bank of Bahrain.
The development marks an important milestone for Indian crypto company CoinDCX’s expansion in the Gulf as it targets 1 million user additions by 2026. India’s CoinDCX acquired BitOasis in July 2024.
“With the backing of CoinDCX and its 200+ strong tech team, we’re now delivering faster performance, deeper liquidity, and a significantly enhanced product suite,” Ola Doudin, CEO and Co-Founder of BitOasis said in a statement.
BitOasis Bahrain will cater to retail, institutional, and high-net-worth individuals, offering trading across 80+ virtual assets.
The company has also rolled out premium services in Bahrain, including exclusive VIP offerings and dedicated support for institutional clients.
The expansion comes amid a crypto resurgence in the MENA region, driven by favorable regulation and digital-first demographics. With more than 99% internet penetration in the UAE and nearly 60% of the regional population under 30, the GCC (Gulf Cooperation Council) is becoming one of the most promising crypto markets globally.
According to IMARC Consulting, the GCC’s crypto market was valued at $744.3 million in 2024 and is projected to reach $3.5 billion by 2033, growing at a CAGR of 16.75%, the company said.
“For CoinDCX, MENA is not a market to merely enter—it’s a region to co-build,” said Sumit Gupta, Co-Founder of CoinDCX. “This launch reinforces our commitment to building the most secure, compliant, and future-ready crypto platform in the region.”
BitOasis previously secured a full Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority in December 2024. Since its founding in 2016, the platform has processed over $7.4 billion in trading volume and raised more than $40 million in funding, it said.
The development marks an important milestone for Indian crypto company CoinDCX’s expansion in the Gulf as it targets 1 million user additions by 2026. India’s CoinDCX acquired BitOasis in July 2024.
“With the backing of CoinDCX and its 200+ strong tech team, we’re now delivering faster performance, deeper liquidity, and a significantly enhanced product suite,” Ola Doudin, CEO and Co-Founder of BitOasis said in a statement.
BitOasis Bahrain will cater to retail, institutional, and high-net-worth individuals, offering trading across 80+ virtual assets.
The company has also rolled out premium services in Bahrain, including exclusive VIP offerings and dedicated support for institutional clients.
The expansion comes amid a crypto resurgence in the MENA region, driven by favorable regulation and digital-first demographics. With more than 99% internet penetration in the UAE and nearly 60% of the regional population under 30, the GCC (Gulf Cooperation Council) is becoming one of the most promising crypto markets globally.
According to IMARC Consulting, the GCC’s crypto market was valued at $744.3 million in 2024 and is projected to reach $3.5 billion by 2033, growing at a CAGR of 16.75%, the company said.
“For CoinDCX, MENA is not a market to merely enter—it’s a region to co-build,” said Sumit Gupta, Co-Founder of CoinDCX. “This launch reinforces our commitment to building the most secure, compliant, and future-ready crypto platform in the region.”
BitOasis previously secured a full Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority in December 2024. Since its founding in 2016, the platform has processed over $7.4 billion in trading volume and raised more than $40 million in funding, it said.
