CoinDCX takes a round of financing, Polychain Capital 2.5 million US dollars
CoinDCX takes only a few months after the completion of series A financing round, extra money. The Serie A was brought to 3.0 million USD in the Fund.
In CoinDCX it is India’s largest crypto exchange. The company confirmed new investments in the amount of 2.5 million US dollars. Secured to the providers of these financing in a strategic round of Investment, headed by Polychain Capital, we. Is involved also Coinbase Ventures.
Its series A funding, rune had brought the company from Mumbai in March for $ 3 million. Also at that time, the line was Polychain Capital.
Overall, the company increased investment now, so 6 million USD in reception. In his “Seed”round of financing in March of the year 2019, the platform had already collected 0.5 million USD.
CoinDCX: Expansion and more employees
The fresh capital would like to take CoinDCX, in order to achieve an optimization of the own presence in India’s crypto-world, as well as improved services. Also, the ranks of the employees would increase the company. According to co-founder and CEO Sumit Gupta, 60 new employees at the stock exchange are in the planning stage.
In addition, Gupta informs, the company wants to bring the new medium more products at the Start. This includes credit services should belong to the private investor area. CoinDCX would also attempt to promote in his homeland in India with various initiatives, the introduction of crypto-currencies.
Use the stock market, the funds for the implementation of new education programmes and Meetups to. Furthermore, if you want to use the money to organize Community Meetings in the framework of a campaign called #TryCrypto.
From Gupta’s little point of view, the new investment is nothing less than “a confidence boost” on the Agenda of the stock market, which would increasingly open up the Indian market.
The platform had launched its latest campaign in March and 1.3 million US provides Dollar ready.Provider is Convinced that the new awareness could move up to 50 million people to use in the future crypto-currencies.
India’s crypto-space will open rapidly. Due to this is the decision of the Supreme court of India a few weeks ago. The court granted a prohibition to the Reserve Bank of India (RBI) is a cancellation. The RBI had earlier said that banks ‘ activities in connection with crypto exchanges and similar business models.
Shan Aggarwal from Coinbase Ventures said, “CoinDCX is in a strong position” as a platform, as a platform from which more people with crypto will be able to interact.
CoinDCX is one of the big winners at India’s stock exchanges, their active user numbers, as well as the trading volumes have been steadily growing. Since the beginning of March 2020, the company reported an increase of the daily trading volume of more than 45 %. In addition, you can be happy about more than 50,000 new customers, so the increase in this area is almost 150%.
