The Next Big Step by CoinDCX; Sumit Gupta Elaborates on the Move!
After the long-fought legal battles, India now sees a brighter future in the crypto industry. Great things seem to be ahead for the Indian crypto industry. The Indian crypto industries and exchange platforms are making remarkable approaches to stand out in the crypto market. CoinDCX is one such exchange platform that’s surely making the Indian crypto industry the next big thing in the market.
Talking about CoinDCX’s approaches, the exchange platform has recently bagged the US $2.5 million through a strategic investment. The funding is raised by Polychain Capital and Coinbase. The investment will help the exchange platform strengthen the #TryCrypto campaign. The #TryCrypto initiative was launched to bring awareness towards crypto adoption in India.
On the lines of this big move, the CEO and Co-founder of CoinDCX, Sumit Gupta, took it to Twitter to elaborate on what is this entire investment about.
1/ A Big Step for Indian Crypto Ecosystem. @CoinDCX has secured a US$2.5 million strategic investment led by @Polychaincap with support from Coinbase Ventures, the investment arm of San Francisco-based cryptocurrency giant @coinbase. #TryCrypto
— Sumit Gupta (CoinDCX) (@smtgpt) May 26, 2020
Gupta further talks about how rapidly the Indian crypto industry has witnessed the growth and how the platform has recorded 47% growth in the trading volume for the first quarter. And there’s still more to cover up in the market.
2/ In recent months, the cryptocurrency industry in India has seen unprecedented growth. #CoinDCX has registered a 10x increase in user signups, and a 47% growth in trading volumes in Q1 alone. Still there's a huge untapped market.
— Sumit Gupta (CoinDCX) (@smtgpt) May 26, 2020
According to him, all such moves are giving widespread recognition to the Indian crypto ecosystem on the global level. CoinDCX is extremely happy to announce the strategic investment by Polychain Capital and Coinbase Ventures. The collaboration has helped the platform standout in the global market.
3/ Due to this, the Indian crypto ecosystem is getting recognition from global corporations and investors.
We are pleased to announce that #CoinDCX has secured a strategic investment led by Polychain Capital and Coinbase Ventures.
— Sumit Gupta (CoinDCX) (@smtgpt) May 26, 2020
He further tweeted that they are extremely excited to call Coinbase Ventures as their investor. Coinbase has had a very strong vision to encourage crypto adoption globally. The collaboration with Coinbase will help CoinDCX achieve the goal of having a DeFi future.
4/ We are also excited to add #CoinbaseVentures as an investor.@coinbase's vision and successful efforts for global cryptocurrency adoption have been admirable and mirror CoinDCX’s dream for a #DeFi future.
— Sumit Gupta (CoinDCX) (@smtgpt) May 26, 2020
Gupta believes that this investment will boost CoinDCX’s efforts to encourage people to adopt crypto globally and support their #TryCrypto initiative, which primarily aims to bring 50 million Indians together to adopt crypto.
5/ The investment will bolster CoinDCX’s efforts in building a user-focused and secure exchange to support the growing crypto demand in India as well as supporting CoinDCX’s US$1.3 million #TryCrypto initiative, which aims to bring 50 million Indians into #crypto.
— Sumit Gupta (CoinDCX) (@smtgpt) May 26, 2020
CoinDCX has been leading cryptocurrency adoption trading in India. With its extraordinary features, CoinDCX has been attracting a lot of investors globally. The exchange recently announced how it had raised $3,000,000 for the series- A funding. This money was to be used for product development, upgrading technology, research, and making marketing strategies.
CoinDCX offers a simpler user interface for a convenient buying and selling experience, unlike any other cryptocurrency exchange platform.
A couple of days ago, CoinDCX also collaborated with the cryptocurrency custodian platform BitGo. BitGo is currently providing security and insurance to the user assets traded on CoinDCX’s platform.
The Co-Founder of CryptoKanoon, Kashif Raza, also acknowledged CoinDCX for making such a remarkable move. This collaboration of CoinDCX and BitGo is a brilliant example of why a platform needs to assure asset security for its users. CoinDCX has been setting an example for many other crypto exchange platforms on how to attract global investors and help the Indian crypto ecosystem stand out strongly in the crypto market worldwide.
If we talk about it from a broader perspective, and if the organizations want the newcomers to deliberately invest in crypto, it is important to take up initiatives like CoinDCX to encourage crypto adoption amongst the youth.
