Tim Draper Leads Targeted $5M Series A for India Crypto Exchange Unocoin

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....

Unocoin, a trading platform in India, has reportedly been at the center of an intensifying debate in India over the legality and regulation of Bitcoin. The trading platform portends to be India's Bitcoin Exchange, and has shut down once before due to uncertainties over Bitcoin in the country. According to a BitcoinTalk Bitcoin Forum Hero Member, Dashingriddler (OP), who claims to be affiliated with the Unocoin team, the company's directors were asked to visit their local authorities this week. As OP writes, The officer is bothered about bitcoins coming to India bypassing the regulated....

Bangalore-based startup UnoCoin has raised an impressive $1.5 million in a pre-series A funding round. Bangalore-based startup UnoCoin has raised an impressive $1.5 million in a pre-series A funding round, the largest sum ever comprised for a digital currency company in India’s history. Among the investors were Blume Ventures, Mumbai Angels, Bank to the Future, Bitcoin Capital, FundersClub, and Digital Currency Group and Boost VC, headed by Barry Silbert and Adam Draper respectively. Expressing his enthusiasm, Silbert believes the company will do great things in the future: “Since making....

Bitcoin in India is a huge opportunity for players to come in and reap rewards, but tread carefully, this market is full of risk. One company in particular is blazing trails in the Indian bitcoin market with little to zero competition. Bringing Bitcoin to Billions. Unocoin is positioning itself as the “Coinbase of India” for many reasons. They are fully compliant with standing regulations. This is imperative as bitcoin in India enters a murky grey area. UnoCoin currently operates across all of India with most of their clients and traffic coming out of Mumbai – the financial capital of....

Indian bitcoin exchange Unocoin is ramping up its fervent push for bitcoin adoption in India. A new partnership with San Francisco-based bitcoin payments company Bitwage will see Unocoin integrated into the payments platform, enabling India-based workers, employees and businesses to receive wages from foreign businesses faster and at better rates. “For instance, an employee receiving $1,000 USD sent to India could receive 70250.00 INR with Bitwage, far more than an estimated 64481.60 INR through Paypal or approximately 65660.00 INR via Citibank India,” claim Bitwage and Unocoin. Bitwage....