Cryptocurrencies
India Crypto Exchange CoinDCX Buys BitOasis in Mideast Expansion
- CoinDCX flags a possible $50 million boost to annual revenue
- Exchanges in India are toiling under some onerous tax rules
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Indian crypto exchange CoinDCX has acquired Dubai-based BitOasis, a first step in the company’s plans to expand globally.
The purchase will give CoinDCX, which first invested in BitOasis last year, a “formidable foothold across the MENA region, catering to a diverse range of retail and institutional clients,” the Indian firm’s co-founder Sumit Gupta said in a statement. The company didn’t disclose the terms of the deal.