Crypto trading exchange in India CoinDCX claims to have reached a milestone of ten million users. As of August of last year, CoinDCX has 3.5 million users.
After a Series C funding round sponsored by former Facebook co-founder Eduardo Saverin’s B. Then, and others, CoinDCX became India’s first crypto unicorn.
The company’s milestone, which was reached in 2018, is a testament to India’s growing demand for digital assets.
The increase in usage follows a long period of ambiguity in India over the legal status of cryptocurrencies.
Crypto investors in India will be taxed twice as much as other assets under recently disclosed plans, sparking concerns about a 30% tax rate but soothing fears of a complete ban.
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