From Apartment Startup to National Crypto Leader
On April 7, CoinDCX celebrated a milestone that few in India’s early crypto scene could have predicted. The company, which started in 2018 from a modest apartment with just five team members, has grown into one of the largest cryptocurrency exchanges in India, now serving over 15 million users. CEO Sumit Gupta, reflecting on the journey, said, “While we believed in the transformative potential of blockchain, the scale and speed at which India’s crypto ecosystem has evolved have been truly remarkable.”
Gupta recalled the early days when crypto awareness in India was minimal and adoption was slow. But the vision was clear. “We anticipated that a tipping point would come when awareness and innovation would accelerate adoption,” he said, pointing to Bitcoin’s recent milestone of INR 1 crore and growing institutional interest as signs of how far the space has come.
Rising Through Challenges and Innovations
The growth of CoinDCX hasn’t come without hurdles. Gupta acknowledged that the path was “both challenging and rewarding.” Over the years, the company became India’s first crypto unicorn and rolled out pioneering features such as staking options, automated Know Your Customer (KYC) processes, and educational resources through DCX Learn.
In the face of volatile markets and regulatory fog, CoinDCX doubled down on making crypto safer and more accessible. These efforts played a major role in building India’s crypto infrastructure and creating trust among users, especially newcomers navigating the complexities of digital assets.
India Tops Global Adoption Rankings
CoinDCX’s success reflects a larger trend: India’s emergence as the world leader in grassroots crypto adoption. For two consecutive years, 2023 and 2024, India ranked first in the Global Crypto Adoption Index by Chainalysis. Gupta credited this to widespread use among everyday citizens, despite challenges like steep taxation and strict trading rules.
He also highlighted a generational shift. “Seventy-five percent of Indian crypto investors are under 35,” he said, indicating strong interest from younger populations. Even with persistent regulatory hurdles, India’s expanding user base and homegrown innovation cement its role as a global crypto powerhouse.
Changing Perceptions in Media and Regulation
While crypto adoption is growing, Gupta acknowledged that the industry still struggles with an image problem. “Crypto still faces an image problem in regulatory and media spaces, but the perception is gradually shifting,” he said. He pointed to global developments, such as clearer policies from the U.S. and EU, which now aim to strike a balance between innovation and financial security.
Public trust is recovering, with crypto ownership in the U.S. nearly doubling since 2021. However, Gupta admitted that “40% of crypto owners still lack confidence in the technology’s safety,” showing there’s work to be done. Issues like compliance and concerns over misuse continue to cloud how crypto is viewed in some circles.
Rebuilding Trust After Security Setbacks
Security remains a top priority for CoinDCX, especially after high-profile incidents like the WazirX hack. In response, the company launched the Crypto Investors Protection Fund (CIPF), seeded with ₹50 crore (around $6 million) to protect users from losses in the event of future breaches.
The fund is supported by 2% of CoinDCX’s brokerage income and monitored through regular audits. As of March 2025, CoinDCX holds over 507 million USDT across several well-known exchanges and wallets. Transparency reports and third-party verified proof of reserves offer users added reassurance about where their money is held.
Setting Standards for Security and Compliance
CoinDCX has taken several steps to ensure its platform operates under global best practices. It complies fully with KYC and Anti-Money Laundering regulations and trains its employees regularly on emerging compliance threats. Its systems are backed by internationally recognized certifications, including ISO/IEC 27001:2022 for security and Privacy ISO/IEC 27701:2019.
These achievements make CoinDCX one of the few Indian crypto exchanges to meet such high benchmarks, a move Gupta believes is crucial for long-term industry credibility. “Our commitment to safeguarding assets and user trust remains stronger than ever,” he said.
Looking Ahead to a Digital Future
As CoinDCX enters its eighth year, Gupta remains optimistic about the road ahead. With stronger infrastructure, growing investor confidence, and increasing regulatory clarity, he sees India as poised to remain at the forefront of global crypto innovation.
“India now leads the world in grassroots crypto adoption,” Gupta proudly noted, and with CoinDCX at the center of that momentum, the company is gearing up for even greater influence in shaping the digital economy of the future.
