News Update

Crypto unicorn CoinDCX aims to go public

• ByTejika Bajaj     |    November 30, 2021

The crypto unicorn CoinDCX announced that it wishes to go public as soon as the regulatory authorities permit them to do so. As the numbers of cryptocurrency transactions are seeing an upward trajectory, the investors and traders are still awaiting clarity with the government which sets to table the crypto bill in the parliament.

Commenting about the company’s plans to go public through an IPO, the co-founder of CoinDCX, Neerah Khandelwal stated, “As soon as the government or the situation allows us, we will try for an IPO. An IPO gives legitimacy to the industry, just like the Coinbase IPO gave a lot of confidence in the crypto markets. Similarly, we want to instil a similar level of confidence with an IPO of CoinDCX. The company will decide on a “precise timeline” depending on incoming government regulations. We certainly will look at that in order to grow the industry further.”

CoinDCX became a unicorn in the month of August after raising a funding of $90 million in its Series C round of funding led by Facebook co-founder Eduard Saverin’s B Capital Group as well as Coinbase Ventures.

A company statement later said that as any growing company aspires to take an IPO route in due course, CoinDCX also has similar aspirations.  “Having said that, there is no definitive route or clause as to when we would go ahead with this plan. Of course, a well-defined regulatory process will benefit not only us but the entire ecosystem in their growth strategy. As an official clarification, we would like to reiterate that there is no immediate plan in the foreseeable future to announce an IPO,” the statement said.

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