[Funding alert] CoinDCX raises $3M in Series A round led by Polychain Capital, Bain Capital Ventures
Summary
CoinDCX, a cryptocurrency trading platform and liquidity aggregator, announced that it raised $3 million in its Series A funding round led by Polychain Capital, Bain Capital Ventures, and HDR Group - operator of BitMEX, along with other venture capitalists. Sumit Gupta, CEO and Co-founder of CoinDCX, said, “As the country’s largest exchange, we are in a position to drive national crypto adoption forward responsibly… With a slew of exciting projects in the pipeline, the closure of our Series A is the first step in a new chapter in the CoinDCX story as we continue to drive the mass adoption of crypto assets in India.” CoinDCX boasts a unique liquidity aggregation model integrated with top global exchanges including Binance, Huobi, and OKEx. Following the Supreme Court decision, CoinDCX became the first cryptocurrency exchange in India to integrate bank account transfers. In its bid to further promote nation-wide adoption of crypto, CoinDCX, last week, announced the launch of its long-term campaign entitled TryCrypto, pledging a sum of $1.3 million to bring the total number of crypto users in India to 50 million. The campaign aims to rally the country through a series of on-the-ground and online initiatives, including DCXLearn - its full-fledged crypto learning programme.