Pantera leads CoinDCX funding round at $2.2 billion valuation

Pantera leads CoinDCX funding round at $2.2 billion valuation

Bloomberg: India’s crypto unicorn CoinDCX is raising $135 million from venture capital funds led by Pantera Capital and Steadview Capital Management LLC., according to a company statement.

The latest round values the company at $2.15 billion, making the Coinbase Ventures-backed exchange the highest valued crypto firm in India, said co-founder and Chief Executive Officer Sumit Gupta. Other investors in the financing include Kingsway, DraperDragon, Republic, and Kindred along with existing backers B Capital Group, Coinbase, Polychain and Cadenza, it said in the statement.

The funding comes even as Indian payment service providers have stopped processing crypto transactions via the Unified Payments Interface, the country’s biggest online retail payments platform, leading to a plunge in trading volumes.