Indian crypto exchange CoinSwitch Kuber raises $260M

Indian crypto exchange CoinSwitch Kuber raises $260M

Valued at $1.9 billion, CoinSwitch Kuber has become the largest crypto company in India, CEO Ashish Singhal said. Major Indian cryptocurrency exchange CoinSwitch Kuber is joining the unicorn club by raising $260 million in a Series C funding round.According to an official announcement on Oct. 6, the new funding has propelled CoinSwitch Kuber to the “very top” of Indian unicorns as the firm became “India’s most valued crypto company” at $1.91 billion.The funding round was led by Coinbase’s venture capital arm Coinbase Ventures and Andreessen Horowitz. Previous investors like Sequoia,....


Related News

CoinSwitch Kuber becomes crypto unicorn, Bitcoin returns to a $1T market cap,...

Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link.Top Stories This WeekIndian crypto exchange CoinSwitch Kuber raises $260M Indian crypto exchange CoinSwitch Kuber closed a $260 million Series C funding round this week at a valuation of $1.91 billion, adding itself to the prestigious unicorn club.The funding round was led by Coinbase Ventures and Andreessen Horowitz, the latter of....

Report: CoinSwitch Kuber poised to become India's second crypto unicorn

Following crypto exchange CoinDCX’s breakthrough to unicorn status this summer, CoinSwitch Kuber is rumored to be next in line – at a valuation close to twice that of its forerunner. India’s recent past has been tumultuous on the cryptocurrency front, yet the local industry is nonetheless rumored to be on the verge of producing another crypto unicorn. According to an unconfirmed report published today, sources allegedly familiar with the matter have claimed that crypto exchange CoinSwitch Kuber is in the “advanced stages of talks” for a fresh financing round that would see the platform....

Reports Show 45% Surge In Stock And Cryptocurrency Sign-Ups Across Rural Area...

The high jump in new registrations is on 45% increase, equivalent to 70 million compared to the previous year. The BSE stock exchange revealed this information was in their data. There had been an increasing number of users, mostly young investors in remote locations across India last year. According to the Economic Times report, these investors seek to buy and trade stocks and cryptocurrencies. Related Reading | Total Cryptocurrency Market Cap Value Surges Across $1.9 Trillion Setting A New Record The Times report states that Wealth management and Cryptocurrency platforms attract new....

Indian state government to accredit Web2 and Web3 blockchain startups

Telangana will launch the blockchain accelerator program in partnership with CoinSwitch Kuber and Lumos Labs. The state government of Telangana announced the launch of the India Blockchain Accelerator program to foster early-stage Web2 and Web3 startups and blockchain developers aimed at solving real-world challenges. The program will be launched in partnership with unicorn crypto exchange CoinSwitch Kuber and Lumos Labs, a technology innovation management firm. In a dialogue with Cointelegraph, Rama Devi Lanka, Director Emerging Technology and Officer on Special Duty (OSD), ITE&C....

India to reduce GST paid on cryptocurrency exchanges from 18% to 1% through r...

Despite the growing popularity of cryptocurrencies in India, lawmakers remain deeply divided on implementing a proper regulatory framework. According to a report from CNBC TV18 India, the nation's government plans to reclassify cryptocurrency exchanges as e-commerce platforms, which will reduce the Goods and Services Taxes (GST) users must pay per transaction, or per trade, to 1%. Currently, the Indian Government levies an 18% GST on transactions conducted on registered cryptocurrency exchanges, which is passed to users as trading fees. The process is similar to the tax protocol of India's....