CoinDCX (portfolio) where I originally invested $250K at $2.5M post is now the largest crypto exchange in India and just acquired Dubai-based BitOasis, not only the leading exchange in UAE, but also with presence in 15 countries across the MENA region, and taking a regulator-friendly and compliant approach to business, just as CoinDCX does. My thesis at the time was that the larger international exchanges such as Coinbase and Binance would find it difficult to address the Indian market, because India has capital controls, and is hostile towards crypto. The British taught Indians bureaucracy, but Indians perfected it. Only an Indian company working closely with regulators would be successful. https://lnkd.in/gnCrfa7C
2.5M post... jeebuz
Sir I am trying to raise fund for bitcoin mining project in bhutan where we can generate 4to6 returns per month minimum because of cheap electricity and suitable weather and government regulations, please help me
You meant to say 'Only an Indian company working closely (offering favors/connections/payments/etc) with regulators would be successful?
Salil, it's been a pleasure working with you while building CoinDCX and truly appreciate all the the help and guidance that you've given us over the years! Thank you!
Congratulations for your investment to grow and belive in coindcx
Your thesis was spot on Salil Deshpande. Congratulations! 👏🏻 Blockchain, DLT, Web3, Tokenization, and RWA investments continue to show promise. Deal Box Ventures recently launched a $100mm Fund to capitalize on this market and we have great deal flow. Excited to create value and launch Fund 2.
Salil you rock. Love it
That's impressive! I hope that's Uncorrelated 3 :)
This is incredible news. Congrats Rohit Jain and the whole team of CoinDCX
Builder @ CoinDCX || Building for Indian Crypto and Web3 Ecosystem || Forbes 30 under 30 || Angel investor || Hiring For Leadership Roles @CoinDCX
3wSalil Deshpande absolutely agree, even more so imp in financial services sector. I fundamentally believe that exchanges/brokerages that are compliant with local laws and regulations and plugged into the local banking ecosystem will have a key advantage over international players over time. As regulations evolve and get matured, it will be the regional players who will continue to gain market share from global C2C exchanges like Binance and win eventually. also loved the last line - "The British taught Indians bureaucracy, but Indians perfected it" :)