Indian Crypto industry 🏭 is booming after the removal of the Banking Ban.
And the Good News is India's Cryptocurrency Exchange CoinDCX has secured a US$2.5 million strategic investment 😇.
Some days before CoinDcx had partnered with BitGo (BitGo is considered as one of the safeso9t digital asset trust company and security company, founded in 2013) to give more security to their users and now they have Come with This Good News 😇
Sumit Gupta, (the Co-founder, and CEO of CoinDcx) has happily shared this Good news on Twitter.
1/ A Big Step for Indian Crypto Ecosystem. @CoinDCX has secured a US$2.5 million strategic investment led by @Polychaincap with support from Coinbase Ventures, the investment arm of San Francisco-based cryptocurrency giant @coinbase. #TryCrypto
— Sumit Gupta (CoinDCX) (@smtgpt) May 26, 2020
So what is the Good News 🧐
Sorry I think this is a typo mistake there is not good news because there are lots of good news by CoinDcx and their Team 😊
The first, good news is they have secured their funding of US$2.5 million from Polychain Capital and Coinbase Ventures (The Big name of the Crypto industry). CoinDcx has raised funding from CoinbaseVenture (a part of Coinbase).
4/ We are also excited to add #CoinbaseVentures as an investor.@coinbase's vision and successful efforts for global cryptocurrency adoption have been admirable and mirror CoinDCX’s dream for a #DeFi future.
— Sumit Gupta (CoinDCX) (@smtgpt) May 26, 2020
Second News is the signup rate on CoinDcx exchange has increased 10times 😯
2/ In recent months, the cryptocurrency industry in India has seen unprecedented growth. #CoinDCX has registered a 10x increase in user signups, and a 47% growth in trading volumes in Q1 alone. Still there's a huge untapped market.
— Sumit Gupta (CoinDCX) (@smtgpt) May 26, 2020
Third Good news is they are going to use this funding to improve their platform by adding some features like instant withdrawal & deposit with zero fees, automated KYC & Bank A/c verification #TryCrypto initiative and more
the fourth Good news is they are planning to launch an academy where anyone can increase their knowledge by enrolling in their blockchain, and cryptocurrency educational program and this is also good news for Crypto beginners😇
And the Fifth News is they are Planning for Defi awesome ✨
5/ The investment will bolster CoinDCX’s efforts in building a user-focused and secure exchange to support the growing crypto demand in India as well as supporting CoinDCX’s US$1.3 million #TryCrypto initiative, which aims to bring 50 million Indians into #crypto.
— Sumit Gupta (CoinDCX) (@smtgpt) May 26, 2020
Some noteworthy points 😊
They have raised this Funding in the time of Covid_19 it means if we really want to do something then we can 👊
They have invested US$ 1.3 Million on the #TryCrypto initiative, which will be used for educational purposes, meetup events, community engagements, and consumer campaigns.
They are planning to make India, a nation that leads the crypto development index globally. And I salute their enthusiasm.
Now we need to know the Thoughts of Leaders 👑 👥
Sumit Gupta, The CEO, and Co-founder of CoinDcx thoughts on the investment, “The recent months have shown that the cryptocurrency industry in India is finally getting the recognition it deserves from global corporations and investors. Our relationship with Polychain Capital goes from strength to strength, reflecting our great partnership with the Polychain team. We are also excited to add Coinbase Ventures as an investor; Coinbase’s vision and successful efforts for global cryptocurrency adoption have been admirable and mirrors CoinDCX’s dream for a Defi future. This new strategic investment into CoinDCX is a shot of confidence in our roadmap toward bringing the crypto asset class to a largely untapped Indian market. We look forward to our investors’ continued counsel in building the most trusted and safe exchange for our users.”
Olaf Carlson-Wee, Founder of Polychain Capital said: "We have worked closely with CoinDCX from an early stage, and have continued to be impressed by the team and vision. Their thoughtful insights into the Indian market, as well as their long-term product roadmap, have strengthened our belief in the potential of the business. We are thrilled to continue to support the team's vision and to provide our deep expertise in growing some of the most successful crypto projects in the world."
Shan Aggarwal, Head of Coinbase Ventures' thoughts on associating with us, "As one of the earliest cryptocurrency exchanges in the world, Coinbase has been a pioneer in providing a safe and secure platform for those looking to enter the cryptocurrency market. In working with Sumit, Neeraj, and their team at CoinDCX, we see a team that shares our approach of building trust with their customers. As India continues to close the gap between the crypto economy and the mainstream market, CoinDCX is strongly positioned to become the leading platform that consumers in the country interact with crypto through."
Don't have an account on CoinDcx Create one using this link 🔗 and get $25 💰
Source: CoinDcx Blog
And last we (CoinMantra.co ) congratulate CoinDcx and their team for this awesome good news.
And you too for reading this post and if you like it don't forget to share with your CoinLover friends 😇 #TryCrypto
