Indian cryptocurrency exchange CoinDCX bought fellow trading platform BitOasis for an undisclosed amount, marking its first expansion into the Middle East and North Africa (MENA).
The acquisition will provide a boost to BitOasis' plans to expand its presence across the region, according to an emailed announcement on Wednesday.
It also follows BitOasis winning a license to operate as a broker-deal in Bahrain. The Dubai-based company is also licensed in its native United Arab Emirates.
CoinDCX is among the most prominent crypto exchanges in India, boasting a user base of over 15 million and quarterly spot trading volumes of more than $840 million.
CoinDCX did not respond to CoinDesk's request for further information.
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