Dubai-based BitOasis recently acquired a license to act as a broker-dealer in Bahrain.CoinDCX is among the most prominent crypto exchanges in India, boasting a user base of over 15 million.Unmute

The Sandbox Wants to Make India Its Largest Market Within the Next Two Years

07:47How Upcoming Elections Around the World Could Impact the Crypto Industry07:47How Upcoming Elections Around the World Could Impact the Crypto Industry00:51What India's Controversial Crypto Tax Means for Investors11:40India Won't See Crypto or Web3 Bill for Another 18 Months, Senior Lawmaker Says

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.

Read More: India Springs Election Surprise, Sends Equity Market Crashing With Uncertain Implications for Crypto

Edited by Sheldon Reback.