CoinDCX hits a new milestone, celebrates 5 years of building the web3 ecosystem
CoinDCX, India’s leading and most valued crypto company, has marked its five-year anniversary in its journey of building for India’s web3 future. Established with the goal of making crypto and web3 accessible to Indians, the exchange now serves over 15 million customers, underpinned by superior user experience and security, as well as an innovative lineup of products and features.
Founded from an old flat with savings to sustain for only three months, Sumit Gupta, co-founder and CEO, and Neeraj Khandelwal, co-founder of CoinDCX, saw the potential of blockchain technology and the positive impact it could create for India. Combined with this, a course in cryptography and blockchain that they had pursued in college provided them with a strong understanding of the subject, laying the foundation for the idea. Since then, the company has navigated regulatory challenges, market volatility and a pandemic to scale new heights. In August 2021, CoinDCX became India’s first crypto unicorn, and even till date, it is India’s most valued crypto company.
The business is rooted in a passion for web3 and its limitless possibilities. As a testament to this, CoinDCX has launched several initiatives to empower the web3 ecosystem. It serves to boost innovation through CoinDCX Ventures, which invests in early-stage Web3 startups. Over the years, CoinDCX has also facilitated web3 awareness and education programmes through its content offering, DCX Learn, multi city roadshows, Namaste Web3, and its flagship industry event, Unfold. Recently, it also forayed into DeFi services to make it available to the masses through the Okto wallet app.
Commenting on this, Sumit Gupta said, “Since our inception in 2018, we have seen the crypto industry evolve. As a budding startup in this space, we are proud to be the drivers of some of this transformation that has led to widespread adoption. Our efforts and subsequent growth over the years has been fueled by the belief that web3 could significantly enrich the economy. But the motivation, courage, and the desire to be better each day comes only through the support we receive from our 600+ member team, our investors, business partners, regulators and most importantly, the crypto community. We have full faith and confidence that India can become a global Web3 hub in the next few years. We are working towards making this a reality and are excited about what the future holds for us.”
Neeraj Khandelwal said: “We are thrilled that we have come this far and while we reminisce about our journey to date, we have a razor sharp focus on the future. We want to take this opportunity to acknowledge and appreciate all the hard work, dedication, and team spirit that got us here. Despite the bear market, we have worked on identifying our strengths and remain committed towards India’s web3 dream. Our work is centered on the belief that the power of any technology is only as great as its accessibility. Going forward, we hope to make our platform more comprehensible and provide easy access so that more people can experience the power of Web3. We will continue to push the boundaries of innovation and technology in making India the web3 hub of the future.”
With the growing positive sentiments and favorable regulations from the government in the crypto space this year, CoinDCX aims to continue scaling its offerings. By 2025, about 1 billion Indians will be connected to the internet, and around 850 million are anticipated to utilize smart devices. Based on these adoption rates, it is likely that Web3 technology will reach at least 200 million people in India in the coming years. CoinDCX hopes to be at the cusp of this web3 revolution and harness its benefits for the masses. It envisions a thriving economy, powered by web3, with its advantages reaching even the remotest corners of the country. The newest offering from the “House of CoinDCX”, a self-custody wallet, Okto, is a step in this direction.
