Cryptocurrency Exchange Aggregator CoinDCX Raises Seed Funding From Bain Capital Ventures
Summary
Other notable angel investors such as Sanjay Mehta, Sung Ho Choi also participated in the round The startup will use the fresh funding to scale its technical infrastructure Mumbai-based cryptocurrency exchange aggregator CoinDCX has raised an undisclosed amount of funding in its seed round led by venture capital company Bain Capital Ventures. The startup will use the fresh funding to scale its technical infrastructure and introduce new products which will bring transparency and inclusivity to its global user base. Within a few months of launch, CoinDCX claimed to have gathered a user base of 50K and over a million dollars in average daily trading volume, both growing fast. According to CoinDCX, it will aim to further its reach into the convergence of digitised and traditional finance by launching a derivatives trading platform. The case was introduced after the Reserve Bank of India issued a circular banning all the banks/regulated organisations from dealing with any cryptocurrency entities on April 6, 2018.