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India’s Largest Crypto Exchange “CoinDcx” Rises another $2.5 Million From Coinbase and Polychain Capital Ventures

After Rising $3 Millon in March India’s largest Crypto Exchange is now again raised another $2.5 Million strategic investment led by existing investor Coinbase Ventures, and Polychain Capital.

Sumit Gupta Co-Founder of CoinDcx Said that they will soon be launching an Academy, a full-fledged blockchain, and cryptocurrency educational program aimed to fulfill the needs of beginners and novice cryptocurrency traders.

Founded in 2018 by Gupta and Neeraj Khandelwal, CoinDCX allows individuals to buy and sell cryptocurrency through a marketplace model. The aggregator sells global liquidity and trading services onto a single platform. The company claims to have a liquidity aggregation model integrated with top global exchanges including Binance, Huobi, and OKEx.

CoinDcx a India’s largest Crypto Exchange which raised $3 Million in March now bagged another $2.5 Million Founding from the Coinbase Ventures and Polychain Capital.

The investment comes shortly after the exchange’s Series A funding round in March, in which CoinDCX secured $3 million from Bain Capital, Polychain, and HDR Group, the operator of cryptocurrency exchange BitMEX.

The investment will further strengthen CoinDcx’s #TryCrypto initiative, India’s largest crypto adoption movement that has got an overwhelming response with more than 50k new signups for CoinDcx in its first phase. The second phase has already started with some exciting features like instant withdrawal & deposit with zero fees, automated KYC & Bank A/c verification, and more number of INR markets.

Trading products offered by CoinDCX include DCXmargin, DCXinsta, DXCtrade, DCXlend, DCXfuture and DCXconvest. “All these products are for different needs of investors. Our investors select these products based on factors such as time for which they want to invest, risk involved, margin, among others,” Sumit Gupta said.

CoinDCX is now also planning to add more products to its suite to make the journey of an investor much easier on the platform. Gupta said that the startup will also invest a part of the recently raised funding to bring these new products to the platform and to improve the technology stack to make it more intuitive for investors to trade on CoinDCX.

Source : Inc42 , Cointelegraph and CoinDcx

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