CoinDCX, a cryptocurrency exchange based in India, has announced the completion of a $90 million Series C round.
B Capital Group (founded by former Facebook co-founder Eduardo Saverin) led the funding round, which also included returning investors Coinbase Ventures, Polychain Capital, Block.one, and Jump Capital.
CoinDCX will use the funds to pursue new business initiatives, improve its product offering, improve technology infrastructure, and expand its workforce.
CoinDCX’s other noteworthy plans include partnerships to expand its user base, the establishment of a research and development (R&D) facility, the strengthening of policy conversations through public discourse, and collaboration with the government to introduce favorable regulations and education support programs.
“We will double down on our efforts to build the next generation of products with cutting edge innovation, improve our existing product array, and strengthen our exchange infrastructure and product team, with the support of the largest institutional backers in both the traditional and digital asset spaces.” – Sumit Gupta, Co-Founder & CEO CoinDCX