CoinDCX Ventures will allocate $6 million next year, focusing on investments in the DeFi sector

2022-12-26 20:25:47

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ChainCatcher news, India's cryptocurrency exchange CoinDCX's investment arm CoinDCX Ventures announced that it will deploy 500 million rupees (approximately 6.05 million USD) in 2023 to invest in scalable platforms, developer tools, and DeFi and other cryptocurrency verticals, aiming to drive Web3 adoption and innovation.

CoinDCX Ventures Managing Director Rohit Jain expressed strong optimism about the DeFi sector, believing that there is still significant room for innovation in DeFi. Additionally, CoinDCX Ventures will seek to invest in startups that provide a simpler user experience on Web3 platforms, similar to Web2 platforms.

Previously, ChainCatcher reported in May this year that India's cryptocurrency exchange CoinDCX launched its investment arm CoinDCX Ventures, which will invest 1 billion rupees (approximately 13 million USD) in early-stage cryptocurrency and blockchain startups over the next 12 months. (source link)

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