Indian Crypto Unicorn CoinDCX Plans to IPO Once Regulations Permit: Report

CoinDCX, India’s first crypto unicorn, plans to go for a listing, once regulations permit it do so, co-founder Neeraj Khandelwal said in an interview with Bloomberg Television on Monday.

India’s crypto industry is facing serious regulatory uncertainty, thanks to a proposed bill that plans to ban most forms of private cryptocurrencies.The proposed bill dampened expectations that the government’s legislative proposal would support a more friendly stance towards crypto, in light of growing adoption in the country.However, CoinDCX remains hopeful about its initial public offering (IPO) plans and thinks such a move would grant legitimacy to the industry. “As soon as the government or the situations allow us, we will try for an IPO,” Khandelwal said.The exchange wants to instill confidence in the industry through its IPO, the same way Coinbase did with its listing, Khandelwal added.The timeline of the IPO will be determined based on incoming government regulation, the co-founder said. CoinDCX did not respond to a request for comment.The crypto exchange became a unicorn , a privately held company with over $1 billion valuation, after a $90 million funding round in August this year. The company received funding from Facebook co-founder Eduardo Saverin’s B Capital Group, Coinbase, Polychain Capital, and Jump Capital.

Read more: Indian Government Submits Bill to Ban Most Cryptocurrencies, Dashing Hopes for Friendlier Measure

Share your thoughts