Just after CoinDCX managed to acquire the crypto unicorn of India status this summer, there are <a href="https://techcrunch.com/2021/09/06/indian-crypto-exchange-coinswitch-kuber-in-talks-to-raise-funds-at-unicorn-valuation/" target="_blank" rel="nofollow noopener">rumors</a> that CoinSwitch Kuber crypto exchange is the next in line. Even though the past of India has been deafening on the cryptocurrency front, the local industry is nonetheless rumored to be on the verge of giving out yet another crypto unicorn.
<h2>CoinSwitch Kuber to Acquire the Crypto Unicorn of India Status</h2>
In accordance with an unconfirmed report published today, it has been claimed by the sources, that possess the knowledge on the matter, that crypto exchange CoinSwitch Kuber is in the pro stages of discussions for fresh financing round that would see the platform valued at $2 billion. 

The valuation of CoinSwitch Kuber is close to twice the valuation of CoinDCX, the <a href="https://www.cryptoknowmics.com/news/coindcx-becomes-indias-first-crypto-unicorn-after-90-million-raise/">first unicorn</a> of the country, which raised $90 million in a Series C funding round at a valuation of $1.1 billion.

In addition to this, it should be noted that reports are suggesting that CoinSwitch Kuber has been in discussion with Andreessen Horowitz and Coinbase.

Back in the month of April, the number of active users on CoinSwitch Kuber was around 4 million and as calculated in the month of August, the total number of active users surged to more than 7 million. 
<h2>Crypto Regulatory Landscape of Decentralized Cryptocurrencies Continue to Dissuade Businesses</h2>
Amid the rise of some crypto-based projects in India, the <a href="https://www.cryptoknowmics.com/news/despite-regulatory-uncertainties-cryptocurrency-exchange-crosstower-approaches-india/">crypto regulatory</a> and legal landscape for decentralized cryptocurrencies has continued to dissuade some high-profile businesses from taking an entry into this sector.

Moreover, in accordance with the data released, retail investors are more interested and enthusiastic about the idea of making investments in cryptocurrencies. Some experts believe it is important to allocate a part of investment in crypto as well to diversify their portfolio.

Along with this, the data revealed that the investments in the Indian crypto sector have surged around 600% between mid-2020 and the month of June of this year.

CoinSwitch Kuber Crypto Exchange Assured to Become the Second Crypto Unicorn of India

Just after CoinDCX acquired the crypto unicorn of India status this summer, there are rumours that CoinSwitch Kuber crypto exchange is the next in the line.

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.

CoinSwitch Kuber Crypto Exchange Assured to Become the Second Crypto Unicorn of India

Top Picks