Evolve Markets

Crypto liquidity aggregator CoinDCX gets seed funding from Bain Capital Ventures

Crypto liquidity aggregator CoinDCX gets seed funding from Bain Capital Ventures

CoinDCX, an Estonia-domiciled global liquidity aggregator with R&D in Mumbai, India, announced it has raised a seed round of financing led by Bain Capital Ventures. Notable angels, including Sanjay Mehtaand Utsav Somani participated.

Funds will be used to scale technical infrastructure and introduce products that bring transparency and inclusivity to CoinDCX’s users.

CoinDCX is a financial services aggregator and has versatile financial instruments and deep order books that target a variety of trading use-cases. CoinDCX has gathered a user base of 50,000, and over a million dollars in average daily trading volume.

“No single platform provides investors with a complete set of financial instruments to trade their digital assets. That’s why we created CoinDCX. You can trade in 200+ markets with leverage, buy crypto with fiat currencies and, starting soon, even trade in crypto derivatives. CoinDCX aims to empower investors by providing a single point of access to a complete crypto ecosystem.”

Sumit Gupta, co-founder of CoinDCX

“We have used our prolific seed program to invest aggressively into crypto and decentralized finance (DeFi) during the crypto winter, including decentralized money markets, derivatives markets, blockchain interoperability solutions, crypto exchanges, miners, prime brokers, and liquidity aggregators. Ultimately, two parallel worlds will form to support the crypto asset class: a centralized system that mirrors the traditional financial system, but with many friction points removed, creating an on-ramp of fiat into the crypto world; and a decentralized, trust-less replica of the centralized system with protocols for each use-case. CoinDCX’s unique approach of leveraging existing technology and fostering liquidity is a critical ingredient in these worlds.”

Salil Deshpande, Managing Director at Bain Capital Ventures

“We strongly believe in a decentralized and disruptive future for the world economy. In the meantime, we are striving to build secure, professional and scalable crypto products for the masses. With cryptocurrency regulations around the corner and increasingly positive sentiments across the community, it is undoubtedly a great time to be in crypto.”

Neeraj Khandelwal, Co-Founder of CoinDCX

“CoinDCX’s velocity of launching new features and attracting customer love has me excited as an early supporter. With India’s crypto-regulation coming soon, CoinDCX is well positioned to be at the forefront of the exciting world of digital assets trading.”

Utsav Somani of AngelList

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