Currently, India is at the center of the crypto world’s attention as the country is set to dialogue on its cryptocurrency bill status in parliament. More so, The bill is in discussion during the ongoing winter session starting today. Also, some major crypto platforms hope for a positive outcome. Notably, the India crypto ecosystem continues increasing despite the uncertainty around regulations. This is showing from the number of crypto companies attaining unicorn status over the past year.
Furthermore, CoinDCX is one of the leading crypto exchanges in the country and also the first crypto exchange in India to become a unicorn. Now, it reveals plans to go public through an IPO.
Also, Neeraj Khandelwal, the co-founder of the crypto exchange reveals that the company is patiently waiting for the government regulations on crypto platforms in India.
“As soon as the government or the situations allow us, we will try for an IPO,”
Then, he explains.
“An IPO gives a legitimacy to the industry, just like the Coinbase IPO gave a lot of confidence…”
“in the crypto markets. Similarly we want to instill a similar level of confidence with an IPO of CoinDCX.”
Notably, CoinDCX is India’s first crypto exchange Unicron since August this year. That’s, after their $90 million Series C fundraise, giving it a $1.1 billion valuation. Consequently, Major venture capital firms are now investing heavily in the Indian crypto ecosystem. Then, also has a plan to put in more money looking at the huge potential the market holds.
Furthermore, Positive regulations are at the right angle to make a path for India to become a major force in a decentralize world. Then, it could play a key role in the Web 3.0 race.
“The bill coming up at this juncture signals progress and…”
“really acknowledgment from the government side of the growing investor base for crypto,” So, Khandelwal concludes.