Bitoasis
Acquired9 known investors
BitOasis is a Dubai-based crypto asset exchange and virtual asset broker-dealer serving the Middle East and North Africa.
Also known as BitOasis
Founders & leadership
Investors · 9
Also in the syndicate · 2
Company profile
researched Aug 2026BitOasis is a Dubai-based cryptocurrency exchange and virtual asset broker-dealer operating across the Middle East and North Africa (MENA). The platform lets users buy, sell, invest in and trade digital assets; coverage in 2024 described trading in more than 60 tokens, up from more than 40 cryptocurrencies noted in earlier reporting. Products include recurring buy functionality and VIP/pro trading tiers with rebate campaigns, alongside educational articles and guides published on the company blog.
The company was founded in 2016 and is led by co-founder and CEO Ola Doudin, previously an IT risk advisor at Ernst & Young who mentored technology startups before founding BitOasis. Regulatory licensing has been central to the company's positioning: it received a provisional operating permit from Dubai's Virtual Assets Regulatory Authority (VARA) in 2022, shortly after the regulator was created, and a full Virtual Asset Service Provider (VASP) license from VARA in December 2024, the final stage of VARA's licensing process for its then-current operations. BitOasis also obtained a Minimum Viable Product operational license from the virtual assets regulator in Bahrain, allowing it to operate as a broker-dealer there.
In July 2024, Indian cryptocurrency exchange CoinDCX acquired BitOasis, taking a 100% stake following a strategic investment made in August 2023. BitOasis' team joined CoinDCX while the original leadership continued to run the exchange and the BitOasis brand was retained; CoinDCX stated BitOasis would remain independent, operating under its existing licenses. Financial terms were not disclosed, though CoinDCX said BitOasis investors would receive CoinDCX equity.
Founding story
BitOasis was founded in 2016 by Ola Doudin, who began her career as an IT risk advisor at Ernst & Young and mentored technology startups before starting her own company. Operating from the UAE, she became known in the region as a bitcoin pioneer and has been active in regulatory discussions around crypto trading with public and private sector bodies.
Business model
BitOasis operates a consumer- and institution-facing digital asset trading platform, acting as a licensed virtual assets broker-dealer in the MENA region. It offers buying, selling and trading of dozens of cryptocurrencies, with features such as recurring buys and tiered VIP/pro programs that include trading fee rebates.
As a crypto exchange and broker-dealer, BitOasis derives revenue from trading activity on its platform; it operates fee-based VIP/Pro tiers with rebate campaigns for high-volume traders.
Traction
BitOasis said it had processed more than $6 billion in trading volume since its 2016 founding and had raised over $40 million in venture funding across about eight years. The platform supported more than 40 cryptocurrencies as of 2022 reporting and more than 60 tokens as of 2024.
Latest developments
In December 2024 BitOasis obtained a full VASP license from Dubai's VARA, becoming licensed and regulated in both Dubai and Bahrain, and said it would pursue further regulatory approvals to broaden its product range. In August 2026 it launched a Recurring Buy feature and ran a VIP Pro rebate campaign in July 2026.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
BitOasis has been described in company statements and press coverage as the leading crypto asset exchange in the Middle East and North Africa, noted for significant trading volumes denominated in UAE dirhams. Its acquisition marked CoinDCX's entry into the MENA virtual asset market.
The company emphasizes proactive engagement with regional regulators and license acquisition where available — including a full Dubai VARA VASP license and a Bahrain MVP license — combined with a consumer brand and local-currency (AED) liquidity in MENA markets.
Technology
BitOasis runs an exchange and brokerage platform for spot trading of digital assets, offering trading in more than 60 tokens with deposit, withdrawal and recurring purchase functionality.
Go-to-market
The company markets a regulated, licensed regional platform to retail, institutional and qualified investors, supported by blog-based education (articles, guides, market commentary), promotional campaigns such as VIP Pro rebates, and public-sector partnerships intended to raise awareness of crypto safety in the region.
Retail investors and traders in the MENA region, as well as institutional and qualified investors served under its VARA license.
Geography
Headquartered in Dubai, UAE, with operations across the Middle East and North Africa. It is licensed and regulated in Dubai (VARA) and Bahrain, and stated plans to solidify its presence in existing markets alongside geographic expansion.
History
BitOasis was founded in 2016 and grew into a leading MENA crypto exchange operating from the UAE. It raised a $30 million Series B in October 2021 from global and regional investors, and accumulated more than $40 million in venture funding over roughly eight years. It received provisional approval from Dubai's new crypto regulator, VARA, in 2022. CoinDCX made a strategic investment in August 2023 and acquired 100% of the company in July 2024, after which BitOasis obtained a full VARA VASP license in December 2024.
Risks & controversies
The company operates in a heavily regulated area, with its activities dependent on licenses from authorities such as Dubai's VARA and Bahrain's virtual assets regulator. Its acquirer, CoinDCX, operates in India, where regulatory hostility toward cryptocurrency, central bank pressure on lenders and a 30% tax on digital asset gains have pressured the sector.
Compiled by commissioned research from 7 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 7
launches, deals, and filingsBitOasis announced the launch of a Recurring Buy feature on its platform.
BitOasis obtained a full Virtual Asset Service Provider license from Dubai's Virtual Assets Regulatory Authority, the final stage of VARA's licensing process for its current operations, and began operating under it immediately.
CoinDCX acquired BitOasis (100% stake) as part of an international expansion push into MENA. Financial terms were undisclosed; BitOasis investors were to receive CoinDCX equity, the team joined CoinDCX, and existing leadership and the BitOasis brand were retained.
BitOasis obtained a Minimum Viable Product operational license from Bahrain's virtual assets regulator, allowing it to operate as a broker-dealer under regulatory oversight.
CoinDCX made a strategic investment in BitOasis ahead of its later full acquisition.
BitOasis received provisional approval / a provisional operating permit from Dubai's newly established Virtual Assets Regulatory Authority.
BitOasis closed a $30 million Series B co-led by Jump Capital and Wamda, with new investors Alameda Research and Global Founders Capital and existing investors Pantera Capital, Digital Currency Group and NXMH.
$30M source ↗
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 7
primary sources listed
- BitOasis Blog | Articles, Guides and Moreblog.bitoasis.net · web
7 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Bitoasis do?
- BitOasis is a Dubai-based crypto asset exchange and virtual asset broker-dealer serving the Middle East and North Africa.
- Who founded Bitoasis?
- Bitoasis was founded by Ola Doudin.
- Who are Bitoasis's investors?
- Bitoasis's investors include Builders + Backers, Digital Currency Group, Finberg, Jabbar Internet Group, Merak Capital, Pantera Capital, Wamda Capital.