India's Crypto and blockchain industries continue to be favored by overseas venture capitalists. According to a report released in the third quarter by Vccedge, a local private investment analysis platform in India, as of August this year, India’s Crypto and blockchain industry had concluded 16 transactions through overseas venture capital companies, with a total amount of more than 627 million U.S. dollars. That is 14.25 times that of last year. Last year, the total value of the industry was only US$44 million.

It is worth noting that the US$90 million raised in August by the Indian Crypto currency exchange CoinDCX has almost become a landmark event. The platform is regarded as India’s first company in the industry to achieve the “unicorn” title, and its C round The financing includes a number of Crypto head institutions such as Capital Ground, Block.one, Polychain, Coinbase Ventures, etc.

The soaring investment scale may be related to the changes in the country's market environment in the Crypto field. Although the Indian government has long held a negative attitude towards the use of Crypto currency, the country has given up its previous related bans. In the third quarter of this year, the country is proposing a series of related proposals to classify Crypto currencies as alternative assets or commodities for supervision, and it is possible to classify digital currencies based on some cases.

Looking back at October, CoinSwitch in India completed its $260 million Series C financing, and its valuation rose to $1.9 billion. This is also the first investment of the head institution a16z in India. It has far-reaching significance and also attracted Coinbase. Ventures, Tiger Global, Sequoia Capital India. After that, CoinSwitch became the second Indian Crypto unicorn.

In addition, Galaxy Digital, Solana Capital, etc. participated in the Indian short video social platform Chingari, and began to deploy in the Indian short video, blockchain social, NFT creation and other directions.

Media commented that, in the context of institutional investment and DeFi activities, India has the world's sixth largest economy, and young people account for a high proportion of the total population. Once the Indian government has a clear policy, the region may become a key area for Crypto development in Central Asia, South Asia, and Oceania.

India's Crypto and blockchain industries continue to be favored by overseas venture capitalists. According to a report released in the third quarter by Vccedge, a local private investment analysis platform in India, as of August this year, India’s Crypto and blockchain industry had concluded 16 transactions through overseas venture capital companies, with a total amount of more than 627 million U.S. dollars. That is 14.25 times that of last year. Last year, the total value of the industry was only US$44 million.

It is worth noting that the US$90 million raised in August by the Indian Crypto currency exchange CoinDCX has almost become a landmark event. The platform is regarded as India’s first company in the industry to achieve the “unicorn” title, and its C round The financing includes a number of Crypto head institutions such as Capital Ground, Block.one, Polychain, Coinbase Ventures, etc.

The soaring investment scale may be related to the changes in the country's market environment in the Crypto field. Although the Indian government has long held a negative attitude towards the use of Crypto currency, the country has given up its previous related bans. In the third quarter of this year, the country is proposing a series of related proposals to classify Crypto currencies as alternative assets or commodities for supervision, and it is possible to classify digital currencies based on some cases.

Looking back at October, CoinSwitch in India completed its $260 million Series C financing, and its valuation rose to $1.9 billion. This is also the first investment of the head institution a16z in India. It has far-reaching significance and also attracted Coinbase. Ventures, Tiger Global, Sequoia Capital India. After that, CoinSwitch became the second Indian Crypto unicorn.

In addition, Galaxy Digital, Solana Capital, etc. participated in the Indian short video social platform Chingari, and began to deploy in the Indian short video, blockchain social, NFT creation and other directions.

Media commented that, in the context of institutional investment and DeFi activities, India has the world's sixth largest economy, and young people account for a high proportion of the total population. Once the Indian government has a clear policy, the region may become a key area for Crypto development in Central Asia, South Asia, and Oceania.