On May 25, CoinDCX announced that it would be using the funds to encourage mass adoption of cryptocurrency in India through its “TryCrypto” campaign.
One of TryCrypto’s initiatives will be a cryptocurrency and blockchain educational program aimed toward new traders.
The Indian crypto exchange states that its goal is to have 50 million crypto users in the country.
Sumit Gupta, Co-founder and CEO of CoinDCX, said the crypto industry in India from global corporations like Coinbase and Polychain.
Gupta adds that this recent investment, coupled with the $3 million secured in March, would provide:
“a shot of confidence in our roadmap toward bringing the crypto asset class to a largely untapped Indian market.”