CoinDCX plans to expand product portfolio

CoinDCX is all set to work with online communities to increase Crypto and Web 3.0 adoption in the county

By Shashank Bhardwaj

Image: Shutterstock

CoinDCX, a leading crypto exchange in India, is preparing to enter the Web 3.0 space. The exchange platform announced plans to develop new products. These new products will aim to increase crypto adoption. According to Mridul Gupta, Chief Operating Officer at CoinDCX,"The larger vision for us is to enable blockchain within crypto. With various use cases emerging, we will get the use cases that are good for the ecosystem, take it on the product and deliver it to the masses."

CoinDCX is said to be researching use cases for NFTs, futures, Metaverse, DAOs, and gaming in order to launch the products. The platform also intends to develop effective KYC tools, fund monitoring tools, and risk engines. The plan also includes developing compliance products and launching initiatives to raise awareness about crypto adoption.

Talking about the potential of Web3 to fundamentally change the internet, Mridul Gupta said, "The space has offerings that operate differently than centralised organisations do today. Better companies can be built and recreated to unlock greater value. Hence, we will keep on enabling the ecosystem for the users in a very simplistic manner."

The platform announced earlier this month that it would host a Web3 meet-up called 'UNFOLD 2022.' The meet-up is scheduled to take place in Bengaluru from August 26 to August 28. The event will bring together developers, investors, Web3 start-ups, and regulators to discuss how India can capitalise on its crypto talent. Talking about the event, Neeraj Khandelwal, co-founder of CoinDCX, said,"With UNFOLD 2022, we wish to emphasise on the role Web3 will play in people’s lives. Our flagship event will help shape conversations in making India a global hub in crypto, blockchain and Web3."

The event will provide a forum for industry leaders to discuss Web 3.0 trends and India's readiness, as well as challenges and opportunities for the Web 3.0 startup ecosystem.

CoinDCX has long been interested in Web3 technology. According to Neeraj Khandelwal,

"Technologies evolve for hundreds of years. And the internet is just 30 years old, where most benefits are yet to be built and harnessed. I believe Web 3.0, powered by blockchain technology, is the next Internet revolution that empowers the common man."

CoinDCX will focus on customer support, compliance, and security as it expands its product portfolio into the Web 3.0 space. These steps will result in increased platform strength. The exchange would also work with online communities to increase crypto and Web3 adoption in the country.

Shashank is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash

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