India-based crypto exchange Coin DCX acquires Dubai's BitOasis

BitOasis added that the brand and leadership team would remain unchanged following the deal, which is set to help the firm strengthen its position in the region - where it serves 15 countries - and enhance its services.

The United Arab Emirates is aiming to become a global centre for the crypto industry and Dubai, considered the Gulf's tourism and business hub, set up watchdog VARA in 2022 to regulate the emerging virtual sector.

Founded in 2016, BitOasis provides broker-dealer services to qualified retail and institutional investors under its (MVP) operational licence provided by VARA. It recently obtained a similar licence from the Central of Bahrain.

Source: Forex-Markets-Economic Times