India’s crypto industry is stuck in a conundrum of sorts: on one hand, there is a bill that proposes to ban most private cryptocurrencies, and on the other hand, some.CoinDcx is still confident in the industry and creates a precedent like Coinbase’s listing which is sure to encourage future listings. The timeline for the company’s IPO will depend on incoming government regulation, the co-founder said.
CoinDCX is an Indian cryptocurrency company with a very unique business model. CoinDCX is a cryptocurrency exchange based in India. It is part of CoinDCX Exchange Pvt Ltd, which was founded in 2017 by four entrepreneurs with over 15 years of combined experience in the Indian financial industry.
The company plans to allow people in India and abroad to trade cryptocurrencies on their platform, also known as an exchange. The company plans to raise capital through an initial public offering (IPO) once the regulations become compliant for such a venture. After which CoinDCX will be India’s first publicly traded crypto company. The exchange became a unicorn after a funding round in August, raising nearly $1 billion from Facebook co-founder Eduardo Saverin’s B Capital Group, Coinbase, Polychain Capital, Block.one and Jump Capital.
The path to regulatory approval in India
The Indian government has proposed a bill that seeks to legitimize ICOs in India. The bill is in line with the government’s endeavor to encourage startups in the country and provide them with an easier route for raising funds.
The bill states that any token sale, including presales, done by any resident Indian citizens will be regulated by the Securities Act of 2013 unless they are offering utility tokens or coins instead of securities. They also must register their offering with SEBI if it is valued at Rs 5 crore or more (roughly $750,000). The startups must provide information about their business model and offer terms to investors before seeking crowdfunding.
Future of Indian Crypto Market?
In a nutshell, it is said that India’s blockchain sector is currently in its infancy and there are many opportunities for investors to make money so long as they take advantage of the window now available. Crypto analysts have estimated that India could be a $500 billion industry by 2030. It remains to be seen whether or not Indian crypto traders will believe this forecast, but for now, it should prove to be quite convincing for those who are willing to take a gamble on this up-and-coming marketplace.
Should you invest in the IPO?
CoinDCX has a strong social media presence and extensive marketing budget. This is something that could be in your favor if you are looking to invest in the IPO of this company. It has more than 100,000 followers on Twitter alone and receives over 10,000 likes per tweet. In addition, it has a few partnerships with top companies like Microsoft and Amazon, which could help its marketing reach exponentially. However, the company might be an impulse buy for some investors because of its size and hype. Some people might love the idea of investing in a company like CoinDCX because it offers them huge potential returns with little risk involved.