One of the most famous India’s cryptocurrency exchanges, CoinDCX, has successfully raised another $2.5 million investment from two popular companies, Polychain Capital and Coinbase Ventures. Previously, CoinDCX has also secured $3 million from HDR Group, Polychain, and Bain Capital.
After the $2.5 million investment announcement, CoinDCX claimed that it would help India crypto adoption with its blockchain education focused on new crypto users.
India has become one of the new spotlights from the crypto giants as of late, such as from Polychain and Coinbase. It is believed that India will be able to become the next giant market for the crypto industry if the trend of crypto usage keeps growing. It is claimed that CoinDCX’s user growth was up to 47% at the beginning of this year alone.
While India crypto regulation is still not certain but CoinDCX is confident this will change sooner or later. If crypto adoption keeps growing in India, it’s possible for the regulators to change their mind toward crypto and the public blockchain technology.
Not only in India, but crypto regulations all over the world have also become softer nowadays compared to 2-4 years ago. It looks like the current COVID-19 pandemic also accelerates crypto adoption among new users from developing countries.
Source: Cointelegraph
