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Coinswitch is an Indian cryptocurrency exchange and trading platform headquartered in Bangalore, Karnataka. [1] Founded in 2017, the platform enables users to trade Virtual Digital Assets (VDAs) with Indian Rupees. In October 2021, Coinswitch secured $260 million in Series C funding, valuing the company at $1.9 billion. [2] [3] [4]
In this article, we discuss the 10 best cryptocurrency startups to watch. If you want to skip our detailed analysis of these startups, go directly to the 5 Best Cryptocurrency Startups to Watch.
All wallet details - including the amounts collected under each cryptocurrency - are available to view publicly. [5] In August 2021, the fund signed a deal with UNICEF India to procure 160 million syringes. [6] By mid-October 2021, the fund had "disbursed $36.28 million out of the $429.59 million collected till now in 10 different ...
It made its first investment in the cryptocurrency startup SFOX in 2018. [7] In 2021 [1] Tribe had a special-purpose acquisition company [8] go public on the Nasdaq with funds of $240 million. [5] In July 2021, Institutional Investor reported that Tribe Capital's assets under management were $1.5 billion. [1]
In May, the crypto startup Auradine announced it had raised $81 million, an attention-grabbing sum for a firm’s first fundraise, especially in a crypto bear market and especially for a company ...
On 29 January 2021, Government of India proposed a bill to ban trading and investments in cryptocurrencies while giving legal power to the RBI for developing CBDC. [39] [40] During the announcement of the 2022 Union budget of India, Nirmala Sitharaman from Ministry of Finance announced the roll out of the Digital Rupee from 2023. [41]
The number of newly founded startups has increased from 733 in 2016–17 to over 14000 in 2021–22, making India the third largest startup ecosystem in the world after the US and China. [3] Among them, around 6600 startups have been in the FinTech industry, evaluating a market value of US$31 billion in 2021. [4]
It is estimated that India could save approximately ₹ 40,000,000,000 (equivalent to ₹ 42 billion or US$490 million in 2023) by reducing the need for physical currency production. [78] The Digital Rupee also aims to lower transaction costs, making both domestic and international money transfers more efficient and accessible.