Last week, we celebrated a milestone—our 7th anniversary. Every year this time is very nostalgic for both of us – it is one of reflection, immense gratitude, and boundless excitement.
First and foremost, a heartfelt thank you to you all—our investors for your unwavering belief and trust, our users for your continued support, and our incredible employees for turning our vision into reality. When CoinDCX was born in 2018, we started working out of a small apartment with a team of five, driven by the unshakable belief that crypto could revolutionize India’s investment landscape. We have witnessed the evolution of this industry firsthand, and with each step, we have evolved alongside it. We have now grown into a team of 500+ people, with a global presence powered by Okto and our acquisition of BitOasis in the MENA region.
Last week, as part of our 7th anniversary celebration, we took our employees on a cruise from Mumbai to Goa—symbolizing the incredible journey we’ve all been on together. We called it ‘PlugOut’25’—a 3-day event filled with laughter, bonding, inspiration, and moments we’ll hold onto for a long time.
Just as the tides have shaped the course of our path, CoinDCX’s voyage has been driven by resilience, passion, belief, and innovation. Every wave we’ve faced has only made us stronger.
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The Crypto Industry has evolved and matured in the right direction
Crypto adoption had been moving at a slow pace. We knew there would come a moment when everything would suddenly shift into high gear. This year, that moment finally arrived. Sparked by developments in the U.S., particularly with President Donald Trump’s pro-crypto stance, Bitcoin reached new price highs.
With growing institutional support from the likes of BlackRock, Bitcoin is now being recognized as a serious asset. This year, Bitcoin crossed the INR 1 Crore milestone—and this is just the beginning.
Our journey – CoinDCX continues to be at the forefront of India’s crypto revolution.
A few months ago, we experienced a truly humbling moment: our app was ranked among the top 3 finance apps on the Play Store in India, surpassing industry giants like Binance and Groww. To see our platform resonate with over 1.6 crore users is the proof of your trust and belief.
When we first started, we knew that the safety and security of our users’ funds would always be our top priority. This commitment has been the foundation of everything we’ve built. It’s what has truly set us apart. We were the first crypto exchange in India to register with the Financial Intelligence Unit (FIU-IND), ISO certifications and Proof of Reserves (PoR). But we didn’t stop there. In 2024, we introduced the INR 50 Crore Crypto Investors Protection Fund (CIPF) to ensure that in the rare event of a security breach or unforeseen circumstances, our users are protected. The CIPF is our way of raising the bar on trust and safety in the Indian crypto ecosystem, setting a new standard that the entire market can look to.
We will continue to push the boundaries of what’s possible, we remain focused on our mission: to empower millions of users and shape the future of crypto trading in India.
Continue our focus to educating and empowering the next generation of crypto users
One of our proudest achievements has been our CoinDCX’s dedication to education. We firmly believe that building a sustainable crypto ecosystem starts with educating users. This belief led to the creation of the ‘Namaste Web3’ initiative, which has already engaged over 1 million people across India. We’ve seen growing interest from equity traders diversifying into crypto, and we’ve stepped up as the ‘India ka Crypto Coach,’ aiming to educate 160 million investors and prioritize consumer confidence through our ‘Learn Karo. Crypto Karo.’ campaign.
This year, we were especially proud to see CoinDCX on TV screens through our advertisement campaign, particularly during the cricket match series. We have roped in esteemed cricketer and coach Gautam Gambhir as our new brand ambassador. It was a reminder of our 2021 achievement when CoinDCX became the official title sponsor of the T20I series between India and Sri Lanka.
Growing interest of equity traders in crypto traders, Indian crypto market is maturing – 85% of our traders are from equity
As the Indian crypto market matures, we are seeing an exciting shift: 85% of our traders now coming from the equity investment space. This growing interest from equity traders reflects a broader trend of diversification. Imagine if we had told you a few years ago that such a large number of equity investors would embrace crypto—many might have found it hard to believe.
As the tides of the market shift with these new investors and traders, CoinDCX is charting a bold new course to meet their demands. Just as a ship adjusts its direction to the changing winds, we’ve evolved by introducing crypto futures trading to cater to these traders, we now offer margin trading, leverage of up to 100x on top assets like BTC and ETH, and over 300 trading pairs. Plus, with INR trading, we’ve made it easier by removing the need for complex currency conversions.
To those equity investors now stepping into the world of crypto, I would like to remind: Crypto is a distinct asset class. While there are similarities with equity markets, the risks and market behavior are different. That’s why our advice is simple but crucial: learn first, trade later.
From BitOasis in the MENA Region, our cruise sails towards more progressive crypto destinations
Our journey, which began in Mumbai, reached a significant milestone in mid 2024 with the acquisition of BitOasis, marking the first time an Indian exchange ventured into the MENA region. BitOasis, like us, has always been dedicated to offering a safe, secure, and fully regulated crypto trading experience. In December 2024, BitOasis earned a full Virtual Asset Service Provider (VASP) License from Dubai’s Virtual Assets Regulatory Authority (VARA), fulfilling all necessary regulatory conditions.
As a cornerstone of the Middle East and North Africa’s crypto landscape, BitOasis has processed over $7.4B in transactions since inception, has approximately $252M in assets under custody, received more than 840k sign-ups – the numbers truly speak for themselves. In terms of business, since our acquisition, BitOasis has seen stellar growth, with a 30% growth in trades, a 40% rise in volume, and a 50% surge in revenue. But beyond these metrics, what truly sets BitOasis apart is the customer satisfaction and trust it has earned. A big shout-out to Ola Doudin, CEO of BitOasis, and the entire team for the success.
It was heartening to see some of the BitOasis team joining us for our 7th-year celebration on the cruise, where they had the opportunity to connect with our team over three memorable days. Our gratitude goes out to them for being part of this journey.
As our cruise continues to sail, we are focused on reaching new destinations—only in regions with progressive crypto regulations, ready to create new opportunities and lead the way. Watch this space for more information soon.
Our DeFi Okto Wallet: The Bridge of Web3 Cruise
When we set out to build Okto Wallet, we wanted it to be the bridge that connect multiple chains and protocols and change the way people experience the crypto world. Today, with over 12 million users and growing, it’s a powerful bridge to the future of Web3. In 2024, we integrated Okto with Hyperliquid, making Okto the mobile frontend for HyperLiquid. By doing so, we have enabled traders to access a high-performance, seamless platform directly from their mobile devices for Futures and Spot trading.
With Hyperliquid’s advanced trading features, Okto makes it easy to execute transactions and manage positions with precision. Users get a clear view of both spot and futures wallets in one place, one-click deposits to Hyperliquid Spot, and seamless cross-chain trading powered by the Okto Layer—all designed to make trading experience smoother and more efficient.
Seeing Okto resonate so strongly with international markets, especially in matured markets like Korea and Japan, fills us with pride. This is only the beginning—we’re just getting started, and we couldn’t be more excited for what’s to come.
Our team – the captain of our cruise -—makes the impossible possible every single day
Behind every milestone, every success, is our incredible 500+ strong team. For any growing company, talent is its greatest asset. At CoinDCX, we call our talent the ‘Changemakers’ because their commitment to the mission is the driving force behind everything we do. The culture we’ve built at CoinDCX is rooted in innovation, trust, and resilience. We’re proud to have been recognized as a ‘Great Place to Work’ five times in a row.
Our offices are now in three cities Bengaluru, Mumbai and Delhi. The recent cruise was an opportunity for us to spend quality time with our Changemakers. Over the three days in the cruise, we got to witness their talents beyond the office—whether it was singing, dancing, skits, or stand-up comedy. It was truly heartwarming to see the team bond, and we couldn’t be prouder of the amazing individuals who make CoinDCX what it is today.
Gratitude for our Journey, looking ahead to the future
We’ve come a long way, but we’re just getting started. As we look ahead, we know that the journey to widespread crypto adoption is not without its challenges. India’s regulatory landscape is still evolving, and we are hopeful the government will implement investor-friendly taxation policies to support the growth of the industry.
There was a global space race in the 1960s to be the first on the moon. Today, every country is racing to be the first to take crypto to the moon, and India and CoinDCX must lead in this global race.
The world of crypto is full of opportunity, and together, we’re going to continue building the future.
Thank you to everyone who has been part of our voyage. The best is yet to come.
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