The current investment round increased CoinDCX’s value to $2.15 billion, becoming India’s most valuable cryptocurrency startup. Trading of cryptocurrencies CoinDCX was India’s first cryptocurrency company to finish a Series D fundraising round, raising $135 million to support different Web3 and crypto development in the country.
CoinDCX’s valuation has more than doubled to $2.15 billion due to the latest investment round headed by Pantera and Steadview and included cooperation from prominent investors such as Kingsway, DraperDragon and Republic.
Stockholders like B Capital Group — an investment firm founded by Eduardo Saverin, the co-founder of Facebook— Coinbase, Polychain, and Cadenza also participated in the overloaded financing round to grow their stakes in the cryptocurrency transactions.
CoinDCX’s significant concentration objectives, as per the statement, are “learning, technology, and safety,” in addition to increasing bitcoin and blockchain knowledge among Indian investors.
Furthermore, to improve cooperation with Financial Action Task Force standards, the cryptocurrency exchange has spent managing risk and reflects the following.
After obtaining $90 million in Series C investment, the Mumbai-based cryptocurrency exchange became India’s most prominent crypto billionaire in August 2021, with a valuation of $1.1 billion.
CoinDCX CEO Sumit Gupta had previously stated that the resources would be repurposed to grow the crypto capital market and establish a research and innovation facility, among many other things.
CoinDCX has over $2 billion in worth, making it the top cryptocurrency brand in India. CoinSwitch Kuber, a competing cryptocurrency exchange, acquired the second bitcoin unicorn in October 2021, and it now has a worth that is almost half its antecedent.
At the publishing date, CoinDCX had not reacted to Cointelegraph’s request for clarification.
Coinbase Investments, the asset manager of the United States cryptocurrency exchanges Coinbase, revealed a proposal to contribute $1 million to the territory in early April, similar to CoinDCX’s attempt to boost India’s burgeoning Web 3 industry.
Coinbase collaborated with Founders Tribe to conduct an in-person presentation day, which attracted over 100 crypto innovators looking for investment for various cryptocurrency and Web3 activities.
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