Company:CoinDCX

From HandWiki
Short description: Indian cryptocurrency exchange platform
CoinDCX[1][2][3]
Industrycryptocurrency
Founded8 April 2018; 5 years ago (2018-04-08)
FounderSumit Gupta
Neeraj Khandelwal
HeadquartersMaharashtra,
Mumbai
,
India
Key people
Sumit Gupta (CEO)
ProductsCryptocurrency
Websitecoindcx.com

CoinDCX is a cryptocurrency exchange platform which was co-founded by Sumit Gupta and Neeraj Khandelwal in 2018.[4][5][6][7] It is India’s largest cryptocurrency exchange valued at $1.1 billion and it is deemed as one of the popular cryptocurrency exchanges in India.[8][9][10][11][12]

The company is also certified with ISO certification by the International Organization for Standards and is insured by BitGo. The company’s minimum lending duration is seven days.[13] On 10 August 2021, it also became the first ever crypto unicorn after it went onto raise $90 million in its Series C funding round with the involvement of several high-profile international investors including the likes of Facebook co-founder Eduardo Saverin at a valuation of $1.1 billion.[14][15][16][17][18]

History

The company was founded by Sumit Gupta and Neeraj Khandelwal who were regarded as longtime friends and both graduated from the same university in Mumbai.[19] However, both of them faced a massive setback when Reserve Bank of India suddenly issued a circular dating to 6 April 2018 stating that it had prohibited the banks from offering cryptocurrency exchange related services to customers with immediate effect.[20][21][22] Despite the Central Bank’s stance against cryptocurrency and unclear future of cryptocurrency in India, both Sumit and Neeraj were boosted with an investment from the US based global investment firm Bain Capital.[23][24][25][26]

Highlights

On 19 September 2021, the company launched ‘Happy Day Rewards’ campaign to boost the crypto awareness among users.[27] On 23 September 2021, CoinDCX introduced free crypto learning modules in sign language for differently abled people coinciding with the occasion of International Sign Language Day.[28] In August 2021, it joined the Advertising Standards Council of India with the intention of enhancing confidence credibility of cryptocurrency among the general public.[29]

Brand endorsements, partnerships

In July 2021, it agreed to become the overseas official sponsor of Sri Lanka Cricket.[30][31] CoinDCX also signed a sponsorship deal as the official title sponsor for the Sri Lanka’s bilateral T20I series against India which was played in July 2021.[32][33] It also sponsored the jersey of Ireland national cricket team for the home international bilateral series against South Africa which was played in July 2021.[34] CoinDCX was also the title sponsor of the ICC World Test Championship.[35]

In October 2021, veteran Bollywood actor Amitabh Bachchan was roped in as the brand ambassador of CoinDCX with the bid to raise crypto awareness and he also eventually became the company’s first ever brand ambassador.[36][37][38][39] Ayushmann Khurrana has also been roped in as the brand ambassador of the cryptocurrency exchange platform.[40][41][42][43]

Services

The platform has a learning platform for beginners in crypto investments or blockchain technology, DCX Learn. The organization has two applications, CoinDCX and CoinDCX Pro for beginner retail investors, advanced crypto and crypto traders.[44][45]

References

  1. ↑ https://www.economictimes.com/tech/technology/coindcx-launches-otc-desk-for-institutional-crypto-trading-in-india/amp_articleshow/87159824.cms
  2. ↑ https://www.thehindubusinessline.com/companies/coindcx-ropes-ayushmann-khurrana-for-its-latest-campaign/article37052089.ece/
  3. ↑ "Storyboard | Dive Into The Seductive World Of Crypto Advertising | Forbes India Blog". https://www.forbesindia.com/blog/storyboard/storyboard-dive-into-the-seductive-world-of-crypto-advertising/. 
  4. ↑ Bhavani, Divya Kala (2021-01-11). "To coin or not to coin?: The must-knows for the crypto-curious" (in en-IN). The Hindu. ISSN 0971-751X. https://www.thehindu.com/sci-tech/technology/crypto-bitcoin-first-time-investors-trading-must-know-information/article33548770.ece. 
  5. ↑ Singh, Tushar Deep. "Finding India's next crypto unicorn". https://economictimes.indiatimes.com/tech/startups/indias-top-5-cryptocurrency-platforms-and-what-they-offer/articleshow/86812478.cms. 
  6. ↑ "CoinDCX introduces crypto learning modules in sign language". 23 September 2021. https://www.livemint.com/companies/news/coindcx-introduces-crypto-learning-modules-in-sign-language-11632380848060.html. 
  7. ↑ "CoinDCX App Referral Code to Get Rs.100 Free BitCoin". June 28, 2021. https://www.deccanherald.com/brandspot/pr-spot/coindcx-app-referral-code-to-get-rs100-free-bitcoin-1002507.html. 
  8. ↑ Szkutak, Rebecca. "Jump Capital Raises $350 Million And Doubles Down On Crypto" (in en). https://www.forbes.com/sites/rebeccaszkutak/2021/09/14/jump-capital-raises-350-million-and-doubles-down-on-crypto/. 
  9. ↑ "What Are The Major Crypto Lending Platforms Operating In India?". https://www.ndtv.com/business/what-are-crypto-lending-platforms-know-about-some-of-the-major-ones-in-india-2551059. 
  10. ↑ Tattersall, Michael. "Crypto exchange CoinDCX nets $90 million despite uncertain regulatory environment". https://www.businessinsider.com/coindcx-becomes-first-indian-crypto-unicorn-consumer-interest-rises-2021-8. 
  11. ↑ Mittal, Apoorva; Shah, Sneha. "CoinDCX in talks to raise $100-120 million". https://economictimes.indiatimes.com/tech/funding/coindcx-in-talks-to-raise-100-120-million/articleshow/84840176.cms. 
  12. ↑ Banerjee, Prasid (August 10, 2021). "CoinDCX is India's first crypto unicorn". https://www.livemint.com/companies/news/coindcx-becomes-india-s-first-crypto-unicorn-with-90-million-fund-raise-11628567457045.html. 
  13. ↑ https://www.news18.com/news/business/coindcx-new-facility-buy-or-sell-cryptocurrency-without-worrying-about-price-volatility-4344320.html
  14. ↑ "Saverin-Backed Exchange Becomes India's First Crypto Unicorn" (in en). Bloomberg.com. 2021-08-10. https://www.bloomberg.com/news/articles/2021-08-10/saverin-backed-exchange-becomes-india-s-first-crypto-unicorn. 
  15. ↑ "IITian-founded exchange is India's first cryptocurrency unicorn". August 10, 2021. https://www.livemint.com/companies/news/coindcx-is-india-s-first-cryptocurrency-unicorn-after-raising-90-mn-from-facebook-cofounder-11628561485825.html. 
  16. ↑ "CoinDCX becomes India's first Crypto unicorn raising $90 million". August 11, 2021. https://www.crypto-reporter.com/press-releases/coindcx-becomes-indias-first-crypto-unicorn-raising-90-million-17817/. 
  17. ↑ "CoinDCX becomes India's first crypto unicorn with $90 million fundraise - Times of India". https://timesofindia.indiatimes.com/business/india-business/crypto-exchange-is-22nd-unicorn/articleshow/85220874.cms. 
  18. ↑ Testbook.com (2021-09-11) (in en). Important National Current Affairs Au: Get to know all the latest National Current Affairs August 2021 & boost your knowledge from this Ebook. Testbook.com. https://books.google.com/books?id=WpdCEAAAQBAJ&q=%22CoinDCX%22&pg=PA87. 
  19. ↑ "Meet The IIT-Bombay Alumni Behind India's Largest Cryptocurrency Exchange". https://www.ndtv.com/offbeat/coindcx-founders-tell-the-story-of-one-of-indias-largest-crypto-exchanges-2469435. 
  20. ↑ https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NOTI15465B741A10B0E45E896C62A9C83AB938F.PDF
  21. ↑ Mimansa Verma, qz com. "How two college friends built India's first crypto unicorn in the face of regulatory setbacks" (in en-US). https://scroll.in/article/1003237/how-two-long-time-college-friends-built-indias-first-crypto-unicorn. 
  22. ↑ "A Millennial Crypto Victory Bigger Than the Price of Bitcoin". https://www.washingtonpost.com/business/a-millennial-crypto-victory-bigger-thanthe-price-of-bitcoin/2020/11/26/3b1329bc-303b-11eb-9dd6-2d0179981719_story.html. 
  23. ↑ Verma, Mimansa. "How two Indian techies bootstrapped their way to build the country's first crypto unicorn" (in en). https://qz.com/india/2046046/how-coindcx-became-indias-first-cryptocurrency-unicorn/. 
  24. ↑ "CoinDCX Joins The Unicorn Club. Will The Startup Boom Last?". https://www.outlookindia.com/website/story/coindcx-joins-the-unicorn-club-will-the-startup-boom-last/391173. 
  25. ↑ Reuters (2021-10-06). "Indian crypto exchange CoinSwitch Kuber valued at $1.9 bln after fund raise" (in en). Reuters. https://www.reuters.com/technology/indias-cryptocurrency-platform-coinswitch-kuber-raises-over-260-mln-2021-10-06/. 
  26. ↑ Jingyuan, Zhao; Joseph, Richards (2021-06-11) (in en). E-Collaboration Technologies and Strategies for Competitive Advantage Amid Challenging Times. IGI Global. ISBN 978-1-7998-7766-0. https://books.google.com/books?id=jX4wEAAAQBAJ&q=%22CoinDCX%22&pg=PA296. 
  27. ↑ "CoinDCX launches 'Happy Day Rewards' campaign to boost crypto awareness" (in en-US). 2021-09-30. https://www.financialexpress.com/brandwagon/coindcx-launches-happy-day-rewards-campaign-to-boost-crypto-awareness/2341234/. 
  28. ↑ Livemint (2021-09-23). "CoinDCX introduces crypto learning modules in sign language" (in en). https://www.livemint.com/companies/news/coindcx-introduces-crypto-learning-modules-in-sign-language-11632380848060.html. 
  29. ↑ Livemint (2021-08-25). "CoinDCX joins advertising regulator to enhance confidence in crypto" (in en). https://www.livemint.com/companies/news/coindcx-joins-advertising-regulator-to-enhance-confidence-in-crypto-11629879495281.html. 
  30. ↑ "Storyboard | Dive Into The Seductive World Of Crypto Advertising | Forbes India Blog" (in en). https://www.forbesindia.com/blog/storyboard/storyboard-dive-into-the-seductive-world-of-crypto-advertising/. 
  31. ↑ "Sri Lanka agrees CoinDCX deal for India series" (in en-GB). 2021-07-02. https://www.sportspromedia.com/news/sri-lanka-cricket-coindcx-kent-ro-india-t20-series-2021/. 
  32. ↑ "Cryptocurrency brand CoinDCX becomes title sponsor of the T20I Series between India and Sri Lanka". The Economic Times. https://economictimes.indiatimes.com/magazines/panache/cryptocurrency-brand-coindcx-becomes-title-sponsor-of-the-t20i-series-between-india-and-sri-lanka/articleshow/84014247.cms. 
  33. ↑ "SL and India to battle for CoinDCX T20 Cup" (in en). https://www.dailynews.lk/2021/07/02/sports/252993/sl-and-india-battle-coindcx-t20-cup. 
  34. ↑ Livemint (2021-07-13). "CoinDCX to sponsor jersey of Ireland Cricket Team" (in en). https://www.livemint.com/sports/cricket-news/coindcx-to-sponsor-jersey-of-ireland-cricket-team-11626183099050.html. 
  35. ↑ https://www.outlookindia.com/newsscroll/coindcx-go-to-be-the-copresenting-sponsor-of-the-upcoming-world-test-championship-final-on-disney-hotstar/2104520
  36. ↑ "Storyboard: CoinDCX appoints Ayushmann Khurrana as brand ambassador days after Amitabh Bachchan put deal on hold" (in en). 2021-10-18. https://www.cnbctv18.com/storyboard/storyboard-coindcx-appoints-ayushmann-khurrana-as-brand-ambassador-days-after-amitabh-bachchan-put-deal-on-hold-11138712.htm. 
  37. ↑ Livemint (2021-10-04). "CoinDCX ropes in Amitabh Bachchan as brand ambassador" (in en). https://www.livemint.com/companies/news/coindcx-ropes-in-amitabh-bachchan-as-brand-ambassador-11633328112681.html. 
  38. ↑ India, Press Trust of (2021-10-04). "CoinDCX picks Amitabh Bachchan as brand ambassador to aid crypto awareness". Business Standard India. https://www.business-standard.com/article/markets/coindcx-picks-amitabh-bachchan-as-brand-ambassador-to-help-crypto-awareness-121100401027_1.html. 
  39. ↑ "Millennials Pull Crypto Out of the Shadows in India". https://www.washingtonpost.com/business/millennials-pull-crypto-out-of-the-shadows-in-india/2021/10/17/27b3adf8-2fa7-11ec-8036-7db255bff176_story.html. 
  40. ↑ Bureau, Our. "CoinDCX ropes Ayushmann Khurrana for its latest campaign". https://www.thehindubusinessline.com/companies/coindcx-ropes-ayushmann-khurrana-for-its-latest-campaign/article37052089.ece. 
  41. ↑ "CoinDCX onboards Ayushmann Khurrana for its ‘Future Yahi Hai’ campaign". 18 October 2021. https://www.financialexpress.com/brandwagon/coindcx-onboards-ayushmann-khurrana-for-its-future-yahi-hai-campaign/2351637/. 
  42. ↑ https://www.moneycontrol.com/news/business/cryptocurrency/storyboard-coindcx-appoints-ayushmann-khurrana-as-brand-ambassador-7593361.html
  43. ↑ https://www.cnbctv18.com/storyboard/storyboard-coindcx-appoints-ayushmann-khurrana-as-brand-ambassador-days-after-amitabh-bachchan-put-deal-on-hold-11138712.htm
  44. ↑ "What Tiger Global's Bet On CoinSwitch Kuber Means To India's Crypto Startup Story" (in en). https://www.forbesindia.com/article/take-one-big-story-of-the-day/what-tiger-globals-bet-on-coinswitch-kuber-means-to-indias-crypto-startup-story/67633/1. 
  45. ↑ "CoinDCX Becomes India's First Crypto Unicorn, Raises $90m Led By B Capital". https://www.moneycontrol.com/news/business/cryptocurrency/coindcx-becomes-indias-first-crypto-unicorn-raises-90-million-led-by-b-capital-7301371.html. 




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