Indian crypto exchange CoinDCX tops $2.1 billion valuation –
Summary
In addition to allowing users to buy various tokens for as low as 100 Indian rupees ($1.3), CoinDCX also provides margin trading and the option to stake digital assets. “What is interesting about this round is the quality of investors who’re coming in and the kind of strong confidence they have shown on the market,” said Sumit Gupta, co-founder and chief executive of CoinDCX, in an interview with TechCrunch. “It gives a good boost to the overall industry.” The startup’s new funding comes weeks after New Delhi’s crypto taxation rule — 30% on the income — went into effect. CoinDCX, which also counts B Capital among its backers, is also working to ramp up educating the retail investors and help contribute to broadening the local ecosystem, he said. CoinDCX recently partnered with crypto-native trade surveillance and market integrity players such as Solidus Labs and Coinfirm, to strengthen its anti-money laundering protection and to provide “precise and holistic” detection and reporting into suspicious activities.