Popular Indian Crypto Exchange Gets Ready for IPO

by in Cryptocurrency News

CoinDCX India

The most prosperous crypto company of India, CoinDCX intends to hold an Initial Public Offering (IPO) when the question of regulations gets clear.

Related: Indian government offers crypto cooperation to democratic countries

CoinDCX co-founder Neeraj Khandelwal told about it during an interview with Bloomberg Television Monday. He also noted that an IPO delivers legitimacy to the sphere.

The news comes amid the regulatory uncertainty in India as the government prepares a structure for crypto regulations. India's Central Bank said that it doesn't approve private crypto assets and would ban them. Also, the institution is building its national digital currency.

On the other hand, the government is open to promoting blockchain technology. CoinDCX CEO said that the proposed legislation will have a positive impact as it will clarify the rules for firms.

Earlier this year, CoinDCX raised $90 M in an investment round led by B Capital, a company formed by Facebook co-founder Eduardo Saverin, becoming the first Indian crypto company which valuation hit $1.1 billion.