Cryptocurrency exchange CoinDCX has become India’s first and only crypto unicorn after a $90 million fundraise led by B Capital Group. This brings the company’s valuation to $1.1 billion. CoinDCX, founded in 2018, aims to be a user-friendly and secure platform for traders, offering a wide range of digital assets and fiat currencies. The exchange provides various ways to deposit and withdraw funds, including bank wires, credit cards, PayPal, and local bank transfers. CoinDCX has onboarded over 3.5 million users and plans to launch new initiatives for high net worth individuals and enterprises, as well as a global trading product. The funds raised will be used for customer awareness campaigns, team expansion, and new business initiatives. CoinDCX also plans to partner with fintech startups and establish a research and development facility. With this funding, CoinDCX joins the unicorn club, becoming the first crypto company in India to achieve this status. The growing interest in crypto platforms in India has attracted international investors, despite the cautious approach of most local funds.
