CoinDCX, an India-based crypto exchange, has announced the closing of a $90 million Series C round.
The funding was led by B Capital Group (founded by former Facebook co-founder Eduardo Saverin); plus returning investors Coinbase Ventures, Polychain Capital, Block.one, and Jump Capital among others.
Funding Development
With the funding, CoinDCX will pursue new business initiatives, enhance its product offering, improve technology infrastructure, and expand its workforce.
Other notable plans for CoinDCX include partnerships to expand its user-base, setting up a research and development (R&D) facility, strengthening policy conversations through public discourse, and collaboration with the government to introduce favorable regulations and education support programs.
“With the support of the largest institutional backers in both the traditional and digital asset spaces; we will double down on our efforts to build the next generation of products with cutting edge innovation, improve our existing product array, and strengthen our exchange infrastructure and product team.”
– Sumit Gupta, Co-Founder & CEO CoinDCX