Amid all the Bitcoin hype, another Indian cryptocurrency startup CoinSwitch Kuber gets $15 million in funding – Business Insider India

  • The startup has raised $15 million from global fintech and crypto investor Ribbit Capital and San-Francisco based crypto-focused investment firm, Paradigm, which is founded by Coinbase founders.
  • It has been a very interesting year for Bitcoin enthusiasts, with the cryptocurrency asset clocking in a massive 300% rally in 12 months to scale $42,000 on January 8, before crashing again.
  • CoinSwitch Kuber’s funding joins the list of Indian crypto firms, Vauld and CoinDCX, which have recently raised funding.

It has been a very interesting year for Bitcoin enthusiasts, with the cryptocurrency asset clocking in a massive 300% rally in 12 months to scale $42,000 on January 8, before crashing to its current value of $33,159. But despite its volatile ride, the largest cryptocurrency continues to garner interest.

And that has meant cryptocurrency startups too have caught investors’ attention. CoinSwitch Kuber, a cryptocurrency investment platform, is the latest startup to raise $15 million from Ribbit Capital and San-Francisco based crypto-focused investment firm Paradigm.

This marks Ribbit Capital’s first investment in a cryptocurrency firm in India.

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Meanwhile, Paradigm, founded by Matt Huang and Fred Ehrsam, co-founder of Coinbase, the largest cryptocurrency exchange in the U.S, too has its eyes set on the Indian market.

“While the crypto landscape in India remains nascent, it has been an exciting past 12 months and over time we believe India could be one of the largest global crypto markets. Ashish and the CoinSwitch team have shown tremendous resilience and strong execution in a
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Author: Pitching Startup on Review