The Indian bitcoin industry is definitely making a lot of noise in the segment lately. In the latest news, one of the leading Bitcoin exchange and trading platform in the country, Coinsecure announced that it raised over a million dollars as part of its Series A fundraising round.
Coinsecure, the Delhi-based Bitcoin trading platform is one among the handful of bitcoin companies operating in India. According to the announcement, the company has so far raised $1.2 Million in an “ongoing Series A round”. The initial chunk of funds seems to have come from a group of angel investors and the company is expecting an inflow of more funds in the coming days as part of the on-going fundraising round.
Coinsecure is the only company in India that offers a full-fledged trading platform with transparent order books. Coinsecure also has a wide range of APIs made available to the developers to help them create and deploy bitcoin and blockchain-based applications in no time.
According to the founder, Mohit Kalra, the funds will be used by the company to increase its reach in both domestic and international markets. In addition, Coinsecure will also be introducing Ethereum and other Blockchain innovations in the near future.
With a robust technology platform, personally built by the company’s CTO, Benson Samuel, Coinsecure intends to be the company that not only connects India to bitcoin but also bring in the whole blockchain ecosystem.
In other news, a mobile bitcoin wallet and marketplace application, Zebpay announced an annual turnover of INR 100 Crore, which is a bit over $15.1 million for the financial year 2015-16.
These reports on the Indian bitcoin industry prove that the country is heading in the right direction when it comes to digital currency adoption and we can expect more industry changing news in the coming days.