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Mumbai: DeFi Alliance, an international trade association for decentralized finance, has announced its Indian chapter, at a time of regulatory flow for the crypto industry in India.
The development also comes at a time when Indian developers in the blockchain and crypto space are gaining global attention after the success of Polygon and Instadapp.
The DeFi Alliances India Chapter is led by
Joel John, investor at Digital Asset VC Prime Ledger Siddharth Jain, co-founder at Defi Dollar Saurabh Sharma, general partner at Jump Capital Krishna Sriram, co-founder at Quantstamp Its inaugural members include Vishal Kankani, principal at Multicoin Capital Ashwath Balakrishnan, partner at Delphi Digital Sowmay Jain, co-founder at Instadapp Ajit Tripathi, head of institutional affairs, Aave regulatory advice, operational support and recruitment.
Traditional venture capitalists are still trying to find their feet and Western funds are finding the right gateways to break in, John said in a Medium article. The alliance will also provide the founders with assistance in talent acquisition and strategy development in preferred markets, among others.
With a developer base sending talent to nearly every major tech company, there has never been any doubt about India’s ability to produce tech talent, John said in the Medium post. Today, a significant number of these developers are looking to develop decentralized applications, thanks to education awareness and a great hackathon culture shaped by ecosystem enablers like Devfolios ETHIndia.
Despite a lack of regulatory clarity, India’s strong payments infrastructure and the country’s large user base make it ripe for the DeFi industry, John continued. The nation has been symbolic of everything DeFi stands for.
DeFi Alliance is a member-based international trade association created for decentralized financial market professionals to connect and collaborate. He says his mission is to drive global adoption of DeFi technology and co-create a transparent, inexpensive and reliable decentralized financial system.
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