Indian crypto exchange CoinDCX to go global in 2022, executive says

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Persistent uncertainty over cryptocurrency regulation in India is not preventing domestic crypto firms from launching global offerings.

Indian cryptocurrency exchange CoinDCX is preparing to move forward with its global crypto-to-crypto trading platform – dubbed Cosmex – in 2022, according to a senior executive at the company.

Ramalingam Subramanian, head of branding, marketing and communications at CoinDCX, told Cointelegraph that CoinDCX has significant ambitions regarding the exchange’s global expansion, as its next platform will target a global audience.

The company initially announced the development of Cosmex in February 2021, planning to expand CoinDCX’s footprint in global markets amid growing global demand and acceptance for cryptocurrencies.

According to Subramanian, the launch of Cosmex will take place “most likely next year” and will initially launch in Western Europe and Southeast Asia.

Cosmex “has nothing to do specifically with what’s going on in India,” Subramanian pointed out, adding that the platform instead seeks to meet the “huge demand” for crypto services outside of India. He added that CoinDCX is unwilling to add to speculation over regulatory uncertainty in India by discussing scenarios in which Indian regulators take a tougher stance on the industry.

Related: Indian Crypto Unicorn CoinDCX Has No Immediate Plans For IPO

Subramanian noted that CoinDCX’s main platform is “focused on India in general” and has restrictions for certain countries.

After lifting a major ban on crypto services in 2020, Indian authorities have reportedly considered further restrictions for the industry. However, experts are convinced that the Indian government would most likely choose to regulate rather than ban its growing crypto economy.

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