Following the March 2020 Central Bank of India (RBI) announcement lifting the banking ban on cryptocurrency, opening up one of the world's biggest markets and in response to a vast demand for ETN in that country, Electroneum announces its listing on CoinDCX, one of the nation's largest and most secure crypto exchanges.
The ETN/BTC and ETN/ETH pairs on CoinDCX are now live, and shortly after, the crypto exchange will announce the listing of the ETN/INR (Indian rupee) pair. Tomorrow, 11 June, CoinDCX and Electroneum kick-off a three-day ETN/BTC trading competition.
"We are very excited about expanding our presence onto a crypto exchange based in India," said Electroneum CEO Richard Ells. "Many crypto enthusiasts in India have expressed their wish to see Electroneum listed on CoinDCX, saying it is the most popular and trustworthy crypto exchange in the country. "
The listing on CoinDCX is part of Electroneum's objective for further adoption of ETN in India, where the award-winning cryptocurrency already has almost 120,000 active app users.
"At a time when we are witnessing unprecedented growth in the use of cryptocurrencies in India, we are excited to introduce users to great projects like Electroneum," said CoinDCX CEO Sumit Gupta. "Electroneum provides users with an easy way to integrate crypto into their daily lives. Similar to CoinDCX and our #TryCrypto initiative, Electroneum focuses on cryptocurrency adoption across the world, and we are happy to support them in their vision."
CoinDCX is India’s largest and safest cryptocurrency exchange by trading volume. Built with user experience and security in mind, CoinDCX provides instant fiat to crypto conversions with zero fees, so that users can have access to a diverse suite of financial products and services that are backed by industry-leading security processes and insurance protection.
Its proprietary liquidity aggregation model provides its users with access to liquidity from leading global crypto exchanges, including Binance, HitBTC, and Huobi Global. Recognised and awarded for its contribution to the Indian emerging tech space, CoinDCX is backed by investors such as Coinbase Ventures, Polychain Capital, Bain Capital Ventures, and HDR Group, operator of BitMEX. CoinDCX offers users an integrated suite of products, including DCXTrade, allowing users to trade in more than 500 markets.
Earlier this year, CoinDCX committed US$1.3 million to its ambitious initiative called #TryCrypto, which aims to bring about mass adoption of cryptocurrencies and to introduce 50 million Indian users to the cryptocurrency sector.