According to co-founder, Neeraj Khandelwal, India’s first crypto unicorn, CoinDCX, wishes to work towards an initial public offering as soon as government regulations permit it.
Khandelwal said that akin to Coinbase Global Inc.’s U.S. listing earlier this year, the share sale would be a key vote of confidence for the country’s digital asset industry. He added that as soon as the situations or the government permit them, they will pursue an IPO. He continued that an IPO offers legitimacy to the industry, akin to the Coinbase IPO that offered a lot of confidence in the crypto markets. Akin to that, they plan to instill the same level of confidence with CoinDCX’s IPO.
Khandelwal also said that the company will decide on a ‘precise timeline’ subject to upcoming government regulations. He added that they certainly will look at that in order to flourish the industry further.
Expansion plans of CoinDCX came at an important time for the industry’s scope in the country as the government of PM Narendra Modi is all set to present a bill to regulate cryptos. The central bank determined that it wishes all private cryptos get prohibited while it creates an official virtual currency. However, the government is open to exceptions to support blockchain technology.