Jordan Mansfield/Getty ImagesCoinDCX, India’s largest crypto exchange, announced Tuesday a new valuation of $1.1 Billion. This is due to crypto's rapid growth in India, according Bloomberg.This valuation confirms that the company is India's first crypto unicorn. It also comes at a time when investment in India's digital-asset sector has increased sevenfold in the last year.Interview with Insider: Neeraj Khandelwal, co-founder, and CTO, stated that his company had global ambitions, having been founded in 2018.Subscribe to our daily newsletter 10 Things Before The Opening Bell.CoinDCX, an Indian cryptocurrency exchange, was announced Tuesday by Eduardo Saverin (Facebook co-founder) as a new valuation of $1.1 Billion. This is due to the fact that crypto has grown exponentially in India, according Bloomberg.Interview with Insider: Neeraj Khandelwal, co-founder, and CTO, stated that his company, which was founded in 2018, and is already the largest crypto firm in India had global ambitions.Khandelwal stated that "we have customers from over 65 countries, even though our company has never been marketed outside of India." "That's why we are investing as an organization in the launching of a global platform."The company's liquidity aggregation model pools orders from multiple exchanges through a single wallet on CoinDCX. Khandelwal stated that while other exchanges may have used such a system in the past, CoinDCX is unique because it offers standard features like margin trading and liquidity aggregation.According to Chainalysis data, Bloomberg has cited, CoinDCX's valuation confirms it as India's first crypto unicorn. It also comes at a time when investment in India's digital-asset sector has increased sevenfold in the last year according to Bloomberg.The Indian government, along with Russia and China, has been seen as being firmly in the crypto-skeptical group for years. The central bank of India had banned banks from dealing crypto companies in 2018. However, this ban was later overturned by the supreme Court. The current debate in Parliament centers on a complete ban on this asset class.Khandelwal, however, seemed more optimistic, telling Insider that, aside from the central banking, many government officials are now changing their mind on crypto. This is pointing to an increasing effort to replace bans by regulation.He said that bitcoin and cryptocurrencies were simply a new technology which India is obsessed about in the corridors of government. "India does not want to follow China's lead," he said.
