Indian Crypto Trade CoinDCX Secures Extra $2.5M Funding
CoinDCX, India’s largest cryptocurrency trade, introduced that it had raised $2.5 million from traders together with Polychain Capital and Coinbase Ventures, the funding arm of crypto trade Coinbase.
The funding comes shortly after the trade’s Series A funding round in March, through which CoinCDX secured $three million from Bain Capital, Polychain and HDR Group, the operator of cryptocurrency trade BitMEX.
In an announcement from CoinDCX on Could 25, the trade mentioned it could be utilizing the funds to encourage mass adoption of cryptocurrency in India by its “TryCrypto” marketing campaign. CoinDCX said its purpose was to have 50 million crypto customers within the nation. One in all TryCrypto’s initiatives can be a cryptocurrency and blockchain instructional program aimed towards new merchants.
Sumit Gupta, Co-founder and CEO of CoinDCX, mentioned the crypto business in India was garnering extra consideration from world firms like Coinbase and Polychain. This current funding, coupled with the…