BitOasis expands in Bahrain, aims to empower 1m traders by 2026
Operating under a Crypto-Asset Services License from the Central Bank of Bahrain, BitOasis Bahrain will offer trading services to retail, corporate, and institutional clients, marking a significant step in the platform's regional expansion.
The launch, attended by CEO and co-founder Ola Doudin, general manager Ali Dashti, and CoinDCX co-founder Sumit Gupta, highlights BitOasis's ambition to reach one million users across the Middle East and North Africa (Mena) by 2026.
'This is a milestone in our mission to provide a secure, innovative, and user-focused platform,' Doudin said. Backed by CoinDCX's 200+ technology team since its acquisition in July 2024, BitOasis has enhanced its platform with faster performance, deeper liquidity, and stronger security. The company also introduced premium services for high-net-worth individuals and institutions, including VIP offerings and dedicated support, alongside seamless local bank transfers across the GCC.
The Mena region is emerging as a global hub for virtual assets, driven by a young, tech-savvy population and proactive regulatory frameworks. With internet penetration exceeding 99 per cent in the UAE and nearly 60 per cent of the GCC's population under 30, the region is primed for crypto adoption.
The GCC's supportive regulatory environment and investments in blockchain infrastructure signal robust growth for the sector. 'As BitOasis strengthens its regional footprint, it is poised to lead the charge in transforming the Mena crypto market, delivering unparalleled opportunities for traders and investors,' a crypto market consultant said.
According to IMARC Consulting, the GCC cryptocurrency market, valued at $744.3 million in 2024, is projected to reach $3.5 billion by 2033, growing at a 16.75 per cent CAGR. Notably, 38 per cent of regional crypto users earn over $15,000 annually, reflecting a financially empowered user base.BitOasis's expansion follows its securing of a full Virtual Asset Service Provider (VASP) License from Dubai's Virtual Assets Regulatory Authority in December 2024. 'MENA is a region we're co-building,' said Gupta. 'With BitOasis, we're creating a secure, compliant, and future-ready platform that's local at heart but global in strength.'
Since its founding in 2016, BitOasis has processed over $7.4 billion in trading volume and raised more than $40 million in funding, serving investors across 13 countries with access to over 80 virtual assets.
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