CoinSwitch Kuber has become India’s second crypto unicorn, having raised over $260 million in Series C funding round, led by American venture capital firm a16z and Coinbase Ventures, at a valuation of $1.9 billion.
“The tonality of the finance minister and other folks who regulate crypto has really changed. They’re sending clear statements right now, saying they won’t shut down crypto. We have also seen policy makers ask experts about how to go about regulating the crypto space. This funding, because it involves investors like a16z, who have never really invested in India before will also build confidence amongst regulators,” he said.
Hiring and new asset classes aside, CoinSwitch Kuber will also launch a new ecosystem fund, meant to invest in other crypto and blockchain companies in the country.[Via]