Delta Exchange revealed that it’s newly acquired funding from cryptocurrency stakeholder CoinFund will be used to foster the plan of both parties in their efforts to expand their services in India.
The American company CoinFund plans to take advantage of the crypto-friendly environment in India to establish its first business investment in the country after the Supreme Court lifted the ban on crypto-related businesses.
In an interview with Cointelegraph, CoinFund representative stated that India is a honeypot for blockchain and cryptocurrency innovation and a market fated for explosive growth. He further mentioned that the country had produced remarkable talents that have contributed to the development of blockchain technology, and it is now time for India to take charge.
There have been waves of investments by top crypto stakeholders in India since the ban lift. Many blockchain investors, including Pankaj, the CEO of Delta Exchange, believe that India is an untapped market for cryptocurrency investment.
With little transparency from the Reserve Bank of India, businesses in the crypto space are seeking clarity as regards the provision of banking services to crypto businesses. The RBI has confirmed that there is no restriction on providing banking services for such companies.
