Web3 Crypto

Crypto exchange CoinDCX raises $135M funding to support Indian Web3

Join Daily Airdrop

YouTube video

Crypto exchange CoinDCX became India’s first crypto business to complete a Series D funding round, raising $135 million in support of various Web3 and crypto initiatives in the country. The latest funding round resulted in CoinDCX doubling its valuation to $2.15 billion, which was led by Pantera and Steadview and saw participation from prominent investors including Kingsway, DraperDragon and Republic. Existing investors such as B Capital Group — a VC firm from Facebook co-founder Eduardo Saverin — Coinbase, Polychain and Cadenza also joined in on the oversubscribed funding round to increase their investments in the crypto exchange. Excited to share that CoinDCX has raised over USD 135 million, in our latest Series D funding round. Another step closer to our dream of making #crypto accessible to every Indian. According to the announcement, “education, innovation and compliance” are the key areas of focus for CoinDCX, in addition to spreading crypto and blockchain awareness among Indian investors. Moreover, the crypto exchange has invested in risk management and compliance frameworks in an effort to enhance compliance with Financial Action Task Force recommendations. In August 2021, the Mumbai-based crypto exchange became the first crypto unicorn from India  when it reached a valuation of $1.1 billion after raising $90 million in a Series C funding. At the time, CoinDCX CEO Sumit Gupta had shared plans to repurpose the funds to expand the crypto investor base and set up a research and development facility, among others. With over $2 billion in valuation, CoinDCX has become the most-valued crypto company in India. Rival crypto exchange CoinSwitch Kuber became India’s second crypto unicorn back in October 2021, which currently holds a valuation close to half that of its forerunner. CoinDCX has not responded to Cointelegraph’s request for comment at publishing time. Related: Coinbase to invest in Indian crypto and Web3 amid tax regulation clarityRunning parallel to CoinDCX’s attempt to strengthen India’s budding Web3 space, Coinbase Ventures, the investment arm of American crypto exchange Coinbase, announced a plan to invest $1 million in the region early April. Calling India’s cryptopreneurs! Coinbase Ventures is partnering with @BuidlersTribe to host an in-person pitch day in Bangalore in April. $1M+ is up for grabs, including $25k bonus grants provided by @BeliefDAO , and mentoring sessions with the best minds in crypto. Coinbase partnered with Buidlers Tribe to host an in-person pitch day, wherein over 100 crypto entrepreneurs attended to get funding for various crypto and Web3 initiatives.

All data is taken from the source: https://cointelegraph.com/
Article Link: https://cointelegraph.com/news/crypto-exchange-coindcx-raises-135m-funding-to-support-indian-web3

#crypto #electrumwallet #buybitcoininstantly #cryptocurrencynews #cryptocurrencyexchange #cryptonews #cryptoexchange


Related Articles

One Comment

  1. i am a bit of skeptic, but know a lot of aspects about BTC. So, let's make few things straight – BTC is an investment asset – like gold, it's scarce, but it's easier to acquire it and big players like pay-pal and grayscale are holding it, same with a lot of banking institutions, hedge funds and masses of people. ytytSelf-host wallet btc owner whales have a hard time selling it without doing KYC and in some cases, this can wreck them financially. People lose access to their btc wallets which makes that btc frozen for all time. The Hype and FOMO is on the rise and most people only buy and hodl with btc. I mean you have to understand that normal stock market fundamentals don't apply here. It's not a 2017 – 2018 scenario. The regulation added to BTC can actually even make it more desirable(although have a minus). Basically, anything that could stop the mooning of btc imo would be extreme regulation restrictions and also better investment opportunities discovered by btc owners. However , it’s is best advice you find a working strategy/daily signals that works well in other to accumulate and grow a very strong portfolio ahead. I have been trading with Mr Nathan Christopher daily signals and strategy, him guidance makes trading less stressful and more profit despite the recent fluctuations. I was able to easily increase my portfolio in just 4weeks of trading with Nathan Christopher daily signals growing 0.5 BTC to 1.2 BTC. His daily signals are very accurate and yields a great positive return on investment and is available to give assistance to anyone who love crypto trading, you can contact him on Telegram @ CNOfx01 for inquires and profitable trading systems

Back to top button