Indian Crypto Exchange CoinDCX Raises Over US$135 Million in Series D Fundraiseby Fintech News Singapore April 19, 2022
Temasek-backed Indian cryptocurrency exchange CoinDCX announced that it has raised over US$ 135 million in an oversubscribed Series D funding round.
The round was led by Pantera and Steadview with strong participation from prominent investors like Kingsway, DraperDragon, Republic, and Kindred.
The latest funding round also saw existing investors such as B Capital Group, Coinbase, Polychain, and Cadenza increase their investments in CoinDCX.
CoinDCX said that it will continue spreading awareness and educating Indian investors on crypto and blockchain.
Additionally, the company has launched several educational initiatives and campaigns working closely with universities and through their DCXLearn platform, which fosters greater understanding and trust for this emerging asset class.
CoinDCX added that it also plans to start an innovation center to further Web3 and blockchain adoption in India.
The company is also investing heavily on risk management and compliance frameworks to make its platform more robust and safe to use for its customers.
CoinDCX recently partnered with crypto-native trade surveillance and market integrity leaders 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.
The company aims to triple its talent pool to over 1000 employees by the end of 2022.
“The latest round by some of the largest institutional investors only reinforces the belief in India’s immense potential in the crypto ecosystem.
With a shared vision of a digital-first economy, we see this round as a strong endorsement of the amazing work that CoinDCX has done for the ecosystem over the years and our plans for the future,”
said Sumit Gupta, Co-Founder, and CEO, of CoinDCX.