Cryptocurrency Exchange Aggregator CoinDCX Raises Seed Funding

Cryptocurrency Exchange Aggregator CoinDCX Raises Seed Funding 1

CoinDCX, which is cryptocurrency trading platform has now secured an undisclosed amount of seed funding from the Bain Capital Ventures and a group of investors which includes the AngelList India Partner and Sanjay Mehta of Mehta Ventures.

Some other investors include the Fubo TV, Blockchain Investor Karn Nagpal, Jatin Aneja, Rafael Ugolini.

The company also has plans to use the funds to scale its technical infrastructure and introduce new products, according to the report which has been revealed.

The company which is run by the Neblio Technologies Pvt Ltd, it aggregates global liquidity and trading services into a single platform. It serves as a single point of access to the cryptocurrency industry, which otherwise has a multitude of the company which is having its specialization in different services such as forcing people to use multiple services and spot trading or margin trading.

“No single platform provides investors with a complete set of financial instruments to trade their digital assets. That’s why we created CoinDCX,” said co-founder Sumit Gupta. “You can margin trade in over 200 markets with leverage, buy crypto with fiat currencies and, starting soon, even trade in crypto derivatives – all on highly liquid markets.”

CoinDCX is now planning to launch a derivatives trading platform to blend traditional and digital financial services.

Report

Written by Udit Agarwal

Startup/Tech News Correspondent, Responsible for gathering information on the tech companies working on IOT, AI, ML, Cloud, Mobile Technologies,

Udit can be reached at [email protected]

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