BENGALURU, Oct 6 (Reuters) – Indian cryptocurrency exchange CoinSwitch Kuber stated on Wednesday it had actually increased greater than $260 million from existing and also brand-new financiers consisting of Coinbase Ventures and also Andreessen Horowitz, valuing it at $1.9 billion.
The brand-new financing round consisted of existing financiers such as Standard, Ribbit Resources, Sequoia Resources India and also Tiger Global, CoinSwitch Kuber stated in a declaration.
Equity capital large Andreessen Horowitz, that makes this financial investment its very first in India, stated in June it was introducing a brand-new $2.2 billion fund to spend even more cash in crypto networks. read more
CoinSwitch Kuber, which presently has greater than 10 million individuals, stated it would certainly make use of the funds to onboard 50 million Indians on its system and also present brand-new items.
The Indian federal government was readied to provide an expense to parliament by March that suggested a restriction on cryptocurrencies, making trading and also holding them prohibited, however the expense was not tabled in the session.
Coverage by Rama Venkat in Bengaluru; Modifying by Subhranshu Sahu and also Rashmi Aich
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