CoinDCX became India’s first cryptocurrency unicorn after the exchange raised 6.70 billion rupees ($90 million) from investors led by Facebook Inc. co-founder Eduardo Saverin’s B Capital Group. The latest funding round values the firm at $1.1 billion, Chief Executive Officer and co-founder Sumit Gupta said in an interview Tuesday. Other investors include existing partners Coinbase Ventures, Polychain Capital, Block.one, and Jump Capital. “We have a very tech savvy population, good mobile penetration, big base of engineers and developers who can leverage blockchain technology," Gupta said. He believes India will produce more than 100 crypto unicorn start-ups in the next few years once regulation is firmed up.

Source: Mint August 10, 2021 00:22 UTC