CoinDCX, India based crypto exchange, has raised new funding of $135 million in a Series D funding round which was LED by Pantera and Steadview. The crypto exchange has doubled its valuation to $2.15 billion (post-money) in eight months following the Series D round.
Further, the funding saw participation from prominent investors like Kingsway, DraperDragon, Republic, and Kindred, along with existing investors B Capital Group, Coinbase, Polychain, and Cadenza as per CoinDCX. The company is now aiming to expand its footprint in the country with more product offerings and talent base. Till date, CoinDCX has raised more than $245 million.
“With a wide array of products built for India, and the commitment to building compliant, simple, and safe solutions, we are uniquely positioned to help forge greater understanding and trust between regulators, industry, and our users, ultimately helping accelerate the growth of Crypto adoption in India and further the march of Web 3.0”, said the company.
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CoinDCX said it aims to triple its workforce to over 1000 employees by the end of this year. “CoinDCX aims to nurture local talent through its various outreach programs, research initiatives, and strategic investments”. Furthermore, the Crypto startup plans to double down on its compliance efforts, as per the CEO of CoinDCX. “We will do whatever it takes to give more comfort to the regulators”, he said.
CoinDCX recently also partnered wit crypto-native trade surveillance and market integrity leaders such as Solidus Labs and Coinfirm, to strengthen its anti-money laundering protection, and to provide precise and holistic detection and reporting into suspicious activities.
“These partnerships enhance CoinDCX’s compliance with the Financial Action Task Force’s (FATF) recommendations, reinforcing its existing position to counter money laundering and combat the financing of terrorism”, the company said. Lastly, the company said that remains committed to spreading awareness and educating Indian investors about crypto and blockchain.