It intends to use the funds to grow its customer base and launch new products as it continues to compete with WazirX, the other major exchange in the country.
The platform will allow the users to buy digital currencies in the Indian rupee at zero fees, OKEx CEO Jay Hao tells CoinGeek.
The Indian government has reportedly been considering a total ban on digital currencies, but as CoinDCX told CoinGeek, the best way forward is proper regulation.
India has been supporting digital currencies despite the banking ban that stifled the industry, with a Paxful report revealing 94% invested before it was lifted.
BuyUCoin exchange is expanding to Estonia after obtaining the two licenses required to operate in the country. It also partnered with local mobile payments firm.
CoinDCX has raised $3M in Serie A funding, led by Polychain Capital and HDR Group, the operator of BitMEX. It plans on expanding and doubling its staff.
CoinDCX exchange is investing $1.3 million in TryCrypto, a campaign geared towards educating Indians about crypto, just a week after crypto ban was lifted.
The Supreme Court lifted a ban imposed by the RBI on crypto, allowing crypto companies to access banking services. So, what are they up to now and what’s next?
The exchange has announced a partnership with local platform CoinDCX to launch a crypto futures product in India.