30 August 2026
India Has Become One Of The World’s Fastest growing Crypto Markets
According to Tracxn data shared with ET, India has attracted Blockchain investments and Crypto funding worth $638 million across 48 funding rounds in 2021.
The overall Crypto funding and Blockchain investments across the world stood at $24,857 million over 930 funding rounds.
According to a Chainalysis report, the India Crypto market has become one of the world’s fastest-growing Cryptocurrency markets, with 641% growth from July 2020 to June 2021.
Earlier, the Indian government had introduced a Crypto bill seeking to ban “all private Cryptocurrencies” before the end of the year. However, the demand for Cryptocurrencies in the country has exploded amid the pandemic.
Back in August, one of the leading Indian Cryptocurrency exchanges, CoinDCX, raised $90 million in its Series C round, held by Facebook co-founder Eduardo Saverin’s B Capital.
Additionally, Sequoia India doubled its investment in CoinSwitch Kuber and also invested in Coinshift, a Crypto treasury management platform.
Many Crypto exchanges have been using exceptionally funding to grow their operations and spend on advertising. However, in July public interest litigation was filed by two advocates against Crypto exchanges WazirX, Coinswitch Kuber, and CoinDCX. The PIL asked regulators to issue guidelines and take steps against such advertisements that carry out campaigns without standard disclaimers.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice
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