BitOasis Names New CEO as Ola Doudin Exits and MENA Crypto Market Gets More Crowded

BitOasis has appointed Jonathan Rigg as its new chief executive officer, marking a leadership transition at one of the Middle East's earliest crypto platforms as it enters a very different market from the one it helped build.

Rigg succeeds BitOasis co-founder Ola Doudin, who has led the company since its founding in 2016. The change comes after India's CoinDCX completed its acquisition of BitOasis in 2024, putting the MENA-focused platform under new ownership and setting the stage for its next phase of development.

Doudin's exit had been expected as BitOasis continued its transition under CoinDCX. Her departure closes a chapter for the founder who helped build the company into one of the region's early regulated crypto platforms.

From Regional Pioneer to Part of a Crowded Market

BitOasis entered the MENA crypto market at an early stage, when locally focused regulated platforms were still limited.

The landscape has since changed significantly. Global exchanges, regional digital-asset platforms and increasingly regulated financial institutions are now competing for users and institutional business across the Gulf.

That means BitOasis is no longer operating in the relatively open market in which it was founded. Its next CEO will have to build on the company's early-mover position while competing in a substantially more crowded ecosystem.

The company said it has recorded approximately $8.5 billion in spot trading volume and serves retail investors, family offices and institutions across the UAE, Bahrain and the wider region.

BitOasis' Regulatory Journey

The company's path has also included regulatory setbacks.

In 2023, Dubai's Virtual Assets Regulatory Authority (VARA) announced regulatory actions against BitOasis and suspended parts of the platform's activities amid supervisory concerns.

BitOasis subsequently resumed services after working with VARA and later secured a full Virtual Asset Service Provider license from the Dubai regulator, strengthening its position in the UAE's regulated digital-asset market.

The platform has also expanded its regulated footprint into Bahrain, where it launched operations in May 2025 after receiving a broker-dealer license from the Central Bank of Bahrain.

Jonathan Rigg Takes Over

Rigg joins BitOasis with experience spanning traditional finance, digital assets and fintech.

He previously held roles at HSBC and Deutsche Bank, mainly in prime brokerage and capital advisory, before joining Fuze Finance as vice president of commercial. At Fuze, he was part of the founding team and worked on areas including crypto infrastructure, OTC trading, stablecoin payments and Banking as a Service.

At BitOasis, Rigg will oversee the platform as it expands its institutional offering, develops new products and continues its regional growth under CoinDCX.

The company has an OTC desk serving institutional clients and said it has received regulatory approval for derivatives products that are moving toward launch.

A New Chapter for BitOasis

Doudin's tenure was closely tied to BitOasis' emergence as an early regional crypto player, but the company she hands over is operating in a market that has evolved considerably.

The CoinDCX acquisition, the company's regulatory journey and the rapid growth of competitors have all changed BitOasis' position in the market.

Rigg now takes over with the challenge of turning that foundation into sustained growth in a region where competition, regulation and institutional adoption are accelerating.

Good luck to the new CEO as he takes BitOasis into its next chapter.