CoinDCX Offers to Let Indians Earn Yield on Crypto Holdings

CoinDCX, the Indian cryptocurrency exchange operator, said in a statement that it is collaborating with primary institutional borrowers, third-party lending partners, and staking platforms to create yield on cryptocurrencies and digital assets. CoinDCX’s yield programme has no lock-in periods or withdrawal restrictions. According to CoinDCX’s chief executive officer and co-founder, Sumit Gupta, the initiative will give a “reliable and accessible alternative for individuals to earn income on their crypto assets while maintaining exposure to the new asset class.” CoinDCX recently created an investing plan that allows investors to buy cryptocurrency at predetermined intervals. CoinDCX did not immediately respond to a question about margin call provisions for crypto investors. The Indian government is likely to tax the yields earned through such programmes by its stance on interest income received on all assets. Web3 Startups will Get a US$13 Million Investment from CoinDCX’s Investment arm Exchange of cryptocurrencies CoinDCX, India’s first crypto unicorn, is backed by Pantera, Steadview Capital, Kingsway, Polychain Capital, B Capital Group, Bain Capital Ventures, Cadenza, Draper Dragon, Republic, Kindred, and Coinbase and has invested in at least US$258,000 in blockchain and Web 3.0 startups through its investment arm. CoinDCX, India’s first crypto unicorn, holds up to 90% of the fund in its trove.The post CoinDCX Offers to Let ...