CoinDCX, India's crypto exchange, has raised a USD 90 million (Rs 670 crore) from investors led by Facebook Inc co-founder Eduardo Saverin's B Capital Group.
The funding has raised CoinDCX’s valuation to USD 1.1 billion (Rs 8,150 crore), making it the first Indian cryptocurrency exchange to reach Unicorn status.
Speaking on the landmark occasion, Sumit Gupta, co-founder & CEO, CoinDCX stated, "The funds raised will be allocated to expand (bring more Indians to crypto/ make crypto a popular investment asset class in India) and strengthen our workforce that will cater to our growth story."
"We will hire talents across multiple functions and focus on new business initiatives. Apart from this, we will be joining hands or enter into partnerships with key fintech players to expand crypto investor base, set up a Research & Development (R&D) facility, strengthening the policy conversations through public discourse, working with the government to introduce favorable regulations, education, and ramping up the hiring initiatives," he added.
Founded in 2018, CoinDCX has already onboarded more than 3.5 million users. CoinDCX will also be launching the CoinDCX Prime initiative, its latest offering in the HNI & Enterprise space, providing legally vetted and safe investments, as well as Cosmex, CoinDCX's global trading product.
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