CoinDCX, the Indian crypto exchange platform, has decided to let its users integrate DeFi wallets from within its platform. The aim is to ease the connectivity between centralised exchanges and DeFi wallets. To do so, the exchange has announced a partnership with a US-based fintech firm Mesh. With this, the exchange could be attempting to have app visitors spend more time on the platform. Indian investors have been flocking to Indian exchanges after the government levied compliance mandates on foreign investors.
CoinDCX claims to be catering to a userbase of 16 million users. The exchange recently declared its compliance with India’s Financial Intelligence Unit the (FIU) certifying its business safe to engage with in India.
Sumit Gupta, the co-founder of CoinDCX, commenting on this matter, called it a ‘game changer’ for CoinDCX. Mesh offers an advanced API integration that could simplify the process of digital asset management for the exchange’s users.
“Solutions like Mesh streamline the complexities of the crypto industry, significantly enhancing the usability factor for our platform,” Gupta said.
Meanwhile, as far as Mesh is concerned, the US-based platform is taking this opportunity to mark its entry into India’s crypto sector.
“We are thrilled about the impact this collaboration will have on one of the most dynamic and important markets. We are thrilled about the impact this collaboration will have on one of the most dynamic and important markets,” said Bam Azizi, co-founder and CEO of Mesh as commenting on the development.
CoinDCX has been taking several steps to establish itself as an investor-popular crypto exchange in India’s evolving landscape. In February, CoinDCX began allowing users of the now defunct KoinX, to access funds that were left locked on the exchange.
The exchange has also initiated its new crypto awareness campaign called KnowBitcoin that aims to provide a detailed overview about the world’s first and most expensive cryptocurrency.
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