CoinDCX-Backed BitOasis, India’s crypto exchange, has officially announced the launch of BitOasis operations in Bahrain. It is a strategic milestone in its mission to expand across the MENA region.
In 2024, CoinDCX acquired BitOasis, making it a significant step toward global expansion and unlocking new growth opportunities. BitOasis remains the leading virtual assets trading platform in the Middle East and North Africa, commanding the highest trading volumes in Emirati Dirhams, according to CoinDCX.
Sumit Gupta, Co-Founder, CoinDCX, said, “Our expansion into the MENA region is driven by clear regulatory frameworks, a growing investor appetite, and larger HNI investment ticket sizes. BitOasis brings unmatched regional credibility, while CoinDCX contributes the scale and innovation of a ‘Made in India’ platform. The results have been impressive—BitOasis has seen a 4x revenue growth, now contributing 20 per cent to our total revenue. Looking ahead, we anticipate the region will account for over 30 per cent of our revenue by 2026.”
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BitOasis Bahrain will operate under a Crypto-Asset Services License from the Central Bank of Bahrain, with delivering secure, compliant, and robust trading services for retail, corporate, and institutional users. It is designed to cater to all types of traders, and offers an easy-to-navigate interface for beginners, while also providing advanced features for more experienced traders seeking sophisticated tools.
Since its beginning in 2016, BitOasis has processed over USD 7.4 billion in trading volume and raised over USD 40 million in funding. This expansion into Bahrain comes on the heels of BitOasis securing a full Virtual Asset Service Provider (VASP) License from Dubai’s Virtual Assets Regulatory Authority in December 2024.
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Crypto Swapper eXch Shows Signs Of Life After Post-Bybit Shutdown
eXch, which was once a go-to swapper for hackers and drainers, was shut down by German police in April — but its continued activity suggests that it isn’t over.
eXch was more like an instant swapper, which allowed the bad actors and cybercriminals to fly under the radar for years. eXch wasn’t a typical crypto exchange without the Know Your Customer (KYC) checks.
In February, the North Korean state-backed hacking unit thrust eXch into the spotlight, when it used the platform to funnel some of the $1.4 billion it stole from Bybit. When Bybit traced its stolen funds to eXch, it requested assistance — but the platform refused.
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This initiated a serious discussion over privacy versus security, but ultimately, eXch announced it would close its doors on April 17; on April 30, German authorities made it official.
However, according to the security firm TRM Labs, the platform may have continued operating in stealth mode after the takedown. Here’s the rise, fall and afterlife of the alleged crypto laundromat eXch.
Kima joins Mastercard sandbox to enable stablecoin card top-ups
Kima, a decentralized settlement protocol has integrated into Mastercard’s sandbox program, which enables the stablecoin-powered top-ups for prepaid cards directly from self-custody wallets.
As per an announcement shared with Cointelegraph, Mastercard partners can now rely on Kima’s settlement infrastructure to enable their prepaid cards to be topped up with stablecoins, including USDC USDC$0.9999 and Tether’s USDt USDT$0.9999, from self-custody wallets across more than 10 blockchains.
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Eitan Katz, the Kima CEO said the integration shows that stablecoins can be practical for everyday use, removing friction and intermediaries from crypto-to-fiat conversions while expanding crypto usability.
“Our goal at Kima is to eliminate barriers between digital assets and traditional finance,” Katz said.
