Since cancellation of the Bank of India's anti-crypto circular by the Indian Supreme Court, more and more specialized investors are betting on the immense country of South Asia.
One of the most popular crypto exchanges in the country, CoinDCX, just collected $ 3 million in a Series A funding round led by HDR Global Trading (owner of BitMEX), Polychain Capital and Bain Capital Ventures, reports Bloomberg.
TheIndia is a market with huge potential for cryptocurrencies. The crypto as an asset class is ready to take off, "said Sumit Gupta, co-founder of CoinDCX.
CoinDCX is one of the few platforms that remained operational during the ban on the central bank of India. The company will use the funds raised to promote the adoption of the cryptocurrency and accelerate its development.
In recent weeks, several major players in the ecosystem, including Binance, Kraken and the venture capitalist Tim draper, have invested, or announced that they want to invest in India.
Recent developments in the cryptocurrency regulatory landscape in India are very encouraging and should boost adoption and innovation in this industry, "commented Arthur Hayes, CEO of BitMEX and HDR, on TheBlock.
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