Bitcoin Forum

I don't know why google has started sending me notifications about things I browse. But one of those notifications landed this post here.
I received a notification this morning from Google where it lead me to an article with the title "India gets its first cryptocurrency unicorn".
I thought for a moment and was wondering that India already has so many cryptocurrencies yet these guys are claiming to be the number one.
As I read the article I came to know about the term unicorn venture links to a startup company with more than $1 billion valuation.
So I thought of sharing this post here and see how you guys react.

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CoinDCX has started raising funds for to increase it's workforce and attract more Indian users into the crypto community.
It raised $90 million in series C with investors from Facebook, Coincase, Polychain etc...

What do you guys think will be the future of CoinDCX in India ?
I have noticed, it has even started paying more attention on advertising through TV and social media recently.

Source : https://qz.com/india/2045269/indian-crypto-unicorn-coindcx-gets-funds-from-facebooks-saverin/

Wow! Now that justifies why we have started seeing television commercials of CoinDCX. But that's good because the current government is very skeptical about cryptocurrencies and its related businesses. But if they see that crypto has created a robust ecosystem in India and also generating jobs and tax revenues, they might change their mind. Who knows! So it's a great news for the crypto community in India. I hope few more companies from this field joins the billionaires club to make the lobby stronger!

In case anyone is interested, here is the List of CoinDCX's 5 Funding Rounds from 18 Investors (https://www.crunchbase.com/search/funding_rounds/field/organizations/num_funding_rounds/coindcx).

Here is more about the organization - https://www.crunchbase.com/organization/coindcx

CoinDCX will launch an IPO after the appearance of certainty from the regulator, its co-founder Niraja Khandelwal told Bloomberg. The co-founder of the first crypto unicorn in India believes that the sale of shares will be a vote of confidence for the digital asset industry in the country.
Khandelwal says the firm will decide on the timing of the IPO depending on government regulations.
https://www.bloomberg.com/news/articles/2021-11-29/saverin-backed-indian-crypto-unicorn-plans-ipo-when-permitted

The cryptocurrency exchange space in India is hotting up. We will hear more such news in the future too. Still, I would stay away from CoinDCX because of what they had done in the past. They are trying their level best to improve their reputation. Let see how successful they will become. Just a fyi Coinswitch Kuber is the 30th Indian unicorn with $260 mn funding.

Even I heard of this news today and was surprised to see CoinDCX planning to stay ahead in the race. I would say it's a good move to make more people aware of the crypto space.
The crypto community in India is active and a crypto exchange launching an IPO will create a crazy hype about it in the financial market.
If they launch an IPO I will apply for it and and get some listing gains. I won't hold it for the long term but will try to take profits from it in the short term.