March 24, 2020 CoinDCX, an Indian cryptoasset exchange has raised $3 million in Series A funding.

The Indian cryptoasset exchange, CoinDCX, has completed a $3 million Series A funding round with participation from the owners of BitMEX, HDR Group as well as Polychain Capital and Bain Capital Ventures among other undisclosed investors. The announcement is especially significant in light of the recent overturning by India’s Supreme Court of the nation’s central bank’s ban on exchanges using domestic banking services. CoinDCX now plans to use the new financial resources to expand its workforce, services, and products with a focus on fiat gateways, algorithmic trading, and additional trading pairs. The exchange was founded in 2018 and has apparently seen “exponential” user growth since the banking ban was overturned.