September 26, 2021

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Homegrown crypto company CoinDCX becomes the first Indian cryptocurrency exchange to join the Unicorn Club

Homegrown crypto company CoinDCX becomes the first Indian cryptocurrency exchange to join the Unicorn Club

Highlights

  • The funds raised will be allocated for expansion to attract more Indians to crypto and make crypto a popular investment asset class in India. With all
  • The money will also be used to strengthen the workforce.
  • Founded in 2018, CoinDCX has added over 3.5 million users to date.

Chennai
Domestic Cryptocurrency Exchange CoinDCX Its valuation has crossed $1 billion and it has joined the unicorn club. CoinDCX First To Enter Unicorn Club With $90 Million (Rs 668 Crore) Series-C Funding Round Indian cryptocurrency exchange (Indian Cryptocurrency Exchange) has been made. The funding for CoinDCX is led by Facebook co-founder Eduardo Saverin’s B Capital.

After the latest funding round CoinDCX Valuation 1.1 billion (Rs 8,150 crore). Companies or startups whose valuation reaches $1 billion are called unicorns. So far 22 companies/startups have joined the Unicorn Club in India in 2021. The latest round of fund raising includes participation from experienced investors as well as investors such as Coinbase Ventures, Polychain Capital, Block.One, Jump Capital among others. Founded in 2018, CoinDCX has added over 3.5 million users to date.

Will partner with fintech companies
CoinDCX co-founder and CEO Sumit Gupta said that we will partner with leading fintech companies to expand the crypto investor base and set up research and development facilities. We are strengthening policy convergence through public discourse and working with the government to offer tailored rules, education, and accelerate hiring initiatives.

Read also: Corona virus eyes on the country’s billionaires, know how many rich people suffered loss!

Where will the money raised be spent
It further added, “The funds raised will be allocated for expansion to attract more Indians to crypto and make crypto a popular investment asset class in India. Also the funds will be used to strengthen the workforce. We will hire talent across multiple functions and focus on new business initiatives.

 

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