Unicorn CoinDCX Plans IPO: India’s first cryptocurrency unicorn, CoinDCX, plans to pursue an initial public offering as soon as government regulations allow it, according to its co-founder Neeraj Khandelwal.
The share sale would be a key vote of confidence for India’s digital asset industry similar to Coinbase Global Inc.’s U.S. listing earlier this year, Khandelwal said in an interview with Bloomberg Television Monday.
The firm will decide on a “precise timeline” depending on incoming government regulations, Khandelwal said. “We certainly will look at that in order to grow the industry further,” he said.
CoinDCX’s expansion plans come at a critical time for the industry’s future in India as the government of Prime Minister Narendra Modi prepares a bill to regulate cryptocurrencies. The central bank is clear that it wants all private cryptocurrencies banned while it creates an official digital currency.