According to the announcement, “education, innovation and compliance” are the key areas of focus for CoinDCX, in addition to spreading crypto and blockchain awareness among Indian investors.
Moreover, the crypto exchange has invested in risk management and compliance frameworks in an effort to enhance compliance with Financial Action Task Force recommendations.when it reached a valuation of $1.1 billion after raising $90 million in a Series C funding. At the time, CoinDCX CEO Sumit Gupta had shared plans to repurpose the funds to expand the crypto investor base and set up a research and development facility, among others.
With over $2 billion in valuation, CoinDCX has become the most-valued crypto company in India. Rival crypto exchange CoinSwitch Kuber became India’s second crypto unicorn back in October 2021, which currently holds a valuation close to half that of its forerunner.Related: Running parallel to CoinDCX’s attempt to strengthen India’s budding Web3 space, Coinbase Ventures, the investment arm of the United States crypto exchange Coinbase, announced a plan to invest $1 million in the region in early April.
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