BitOasis will operate in Bahrain under a Crypto-Asset Services Licence issued by the Central Bank of Bahrain. CoinDCX expects more than 30% of its total revenue to come from the MENA region by 2026, up from the current 20%.
Sumit Gupta, Co-Founder of CoinDCX, said the company’s expansion in the region is influenced by regulatory clarity, growing investor interest, and the size of high-net-worth individual investment flows. According to Gupta, BitOasis has seen fourfold revenue growth since the acquisition.
The Bahrain platform will offer services to retail, corporate, and institutional clients. New features include premium services for high-net-worth individuals and support for local bank transfers across the Gulf Cooperation Council (GCC).
BitOasis Co-Founder and CEO Ola Doudin said the Bahrain launch represents a continuation of the company’s regional growth plans. CoinDCX’s technology team now manages the backend infrastructure of the platform.
The move comes amid increased activity in the MENA virtual assets sector, supported by regulatory initiatives and investment in blockchain infrastructure across the region. The market is also shaped by a young population and high levels of internet penetration.
According to data from IMARC Consulting, the GCC crypto market was valued at $744.3 million in 2024 and is projected to reach $3.5 billion by 2033, with an annual growth rate of 16.75%. Around 38% of crypto users in the region have annual incomes above $15,000.
BitOasis has processed more than $7.4 billion in trading volume since its founding in 2016 and has raised over $40 million in funding. The Bahrain launch follows the platform securing a Virtual Asset Service Provider licence from Dubai’s Virtual Assets Regulatory Authority in December 2024.
