CoinDCX, India’s most valuable crypto trading platform, has secured $135.9 million (about Rs 1,000 crore) from investors led by Pantera Capital and Steadview Capital, more than doubling its valuation to $2.15 billion in less than a year.
The money comes as cryptocurrency exchanges in India are subjected to new taxation restrictions. Due to limited access to depositing money for consumers, CoinDCX and its contemporaries, such as WazirX and Coinswitch Kuber, have seen their volumes plunge to new lows this month.
Existing investors B Capital, Coinbase Ventures, Polychain Capital, and Cadenza Capital Management all increased their stakes in the crypto exchange as part of the round.