Indian crypto exchange CoinDCX told Business Insider that it has no ‘immediate’ plans to launch an initial public offering (IPO).- According to the company’s spokesperson, CoinDCX has aspirations to one day go public — just like any other startup.
- “As an official clarification, we would like to reiterate that there is no immediate plan in the foreseeable future to announce an IPO,” said the company’s spokesperson.
“As an official clarification, we would like to reiterate that there is no immediate plan in the foreseeable future to announce an IPO,” the company’s spokesperson told Business Insider.
The Indian government is scheduled to discuss regulating cryptocurrencies in the country during the ongoing Winter Session of Parliament. According to experts, it is unclear whether or not India will $4 or put rules and regulations in place to legitimise the ecosystem. The suspense will remain until there is an $4 of proposed laws in the public domain.
CoinDCX was the $4 in India to gain ‘unicorn’ status in August. It raised $90 million during its Series C round of funding, led by Facebook’s co-founder Eduardo Saverin, giving it a valuation of over $1 billion.
According to CoinDCX’s co-founder Neeraj Khadelwal, an IPO from the company would add legitimacy to the industry. “Just like the Coinbase IPO gave a lot of confidence in the crypto market, similarly, we want to instill a similar level of confidence with an IPO of CoinDCX,” he told the Economic Times.
But, for now, there are no concrete plans. Once the regulations around the industry are finalised in India, will the company even consider going public.
According to the Finance Minister, Nirmala Sitharaman, India currently has $4 to recognise Bitcoin as currency. However, that does not rule out the possibility of it being treated as an asset akin to how $4 have regulated the space.
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