India’s first crypto exchange, CoinDCX is set to expand its reach by 2022 with a global presence. With a focus on the region and potentially becoming one of the largest exchanges in Asia-Pacific, it will also be able to offer services such as trading tools and investment advice.
CoinDCX is an Indian crypto exchange that plans to go global in 2022. The company’s CEO, Mr. Kishore Thota, says the company will be able to reach a global audience with its upcoming platform.
The ongoing ambiguity surrounding cryptocurrency legislation in India isn’t deterring Indian crypto firms from expanding globally.
According to a top official at CoinDCX, the Indian cryptocurrency exchange is planning to launch its worldwide crypto-to-crypto trading platform, named Cosmex, in 2022.
CoinDCX’s head of brand, marketing, and communications, Ramalingam Subramanian, told Cointelegraph that the exchange has big plans for worldwide growth since its next platform would cater to a global audience.
Cosmex was first launched in February 2021, with the intention of expanding CoinDCX’s presence to worldwide markets in response to rising global demand and acceptance for cryptocurrencies.
Cosmex will be launched “most likely next year,” according to Subramanian, with a focus on Western Europe and Southeast Asia at first.
Cosmex “has nothing to do with what’s going on in India,” according to Subramanian, who added that the platform aims to meet the “great demand” for crypto services outside of India. He went on to say that CoinDCX would not contribute to the regulatory uncertainties in India by addressing scenarios in which Indian authorities adopt a harder stance on the business.
CoinDCX, India’s crypto unicorn, has no imminent plans to go public.
CoinDCX’s primary platform, according to Subramanian, is “centered on India generally” and has limits for particular nations.
Following the removal of a significant prohibition on cryptocurrency services in 2020, Indian authorities are allegedly mulling new regulations for the sector. Experts, on the other hand, believe that the Indian government would choose to regulate rather than restrict the country’s burgeoning crypto economy.
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