Indian Investments In Crypto Grow Rapidly As $40 Billion Milestone Is Reached

Indian crypto exchange WazirX reported a significant growth in its user base and trading volume over the year. They claimed the platform’s user base grew to 10 million during 2021, which represents a tenfold increase. WazirX’s 2021 trading volume to date has been around $38 billion, CoinDesk reported, with a month-over-month increase of 44%. They had an important surge of 2,648% in users who registered to the platform from some of India’s largest cities, Mumbai, Delhi, Kolkata, Chennai, Bengaluru, and Hyderabad (Tier II and Tier III), where crypto trading already had....

Indian Bitcoin wallet service provider Zebpay is set to secure a $5 mln funding round by October 2016 from prominent US-based venture capital firms. Zebpay co-founder Saurabh Agrawal stated in an interview that the company is pursuing major deals with leading investors to obtain a multi-million Series A funding round, which will raise the total investment in Zebpay to $6 mln. In early January, the Indian Bitcoin startup secured a $1 mln investment from angel investors including Jindal Worldwide managing director Amit Jindal, leading the round with personal investments. Rapidly Increasing....

Following the news of Bitcoin hitting its all-time high on Tuesday night, Bitcoin's market cap has hit yet another milestone. Three billion dollars, in fact. The news comes just about a week the after market cap reached $2.5 billion - signaling immense growth. No doubt, the influx has very much to do with the excitement over the price getting higher (i.e. more people throwing their money in with anticipation the price will get higher). Bitcoin's market cap has grown so very rapidly, making many question when we'll hit the $4 billion mark. By year's end, perhaps?

American entrepreneur and venture capitalist Tim Draper has invested in Indian cryptocurrency exchange Unocoin despite regulatory uncertainty and reports of a possible crypto ban in India. Unocoin has seen the number of new users grow 10-fold since the supreme court quashed the banking restriction by the central bank. Investments Flow Into Crypto Sector in India The cryptocurrency sector in India continues to attract global investors as the government continues to deliberate on how cryptocurrencies will be treated in the country. The latest round of investments went into Unocoin, one of....

Several major global cryptocurrency exchanges are reportedly exploring ways to enter the Indian crypto market. “The Indian market is huge and it is only starting to grow, if there was more policy certainty by now Indian consumers would have been spoilt for choice in terms of exchanges because everyone wants to be here,” said an executive of a crypto firm. Major Crypto Exchanges Want to Enter India Global crypto exchanges are exploring ways to enter the Indian cryptocurrency market, Reuters reported. Four sources told the publication that U.S.-based Kraken, Hong Kong-based....