Broadus is a crypto entrepreneur and the owner of Camp Medici, a Bored Ape NFT. 

The fund aims to invest in founders building blockchain and crypto companies pushing to a future in Web3. It will also provide equal opportunities for Asian founders based outside of America.

The details of the fund were not disclosed.

Gushcloud and Champ Medici will also provide opportunities for Asian brands to move into Web3. 

“As partners now with Gushcloud, we will also be releasing a Web3 investment fund targeted towards investing in founders building blockchain and crypto companies to push forward our combined future in Web3,” said Broadus. 

April this year, Broadus and Gushcloud collaborated to create and throw two pop-up events. According to Gushcloud, both the events caught the attention of key crypto investors and sponsors such as Klaytn, CLV, Bixin Ventures, NSMG, and Ethsign. Celebrities and influencers comprising G-Eazy, Steve Aoki, Russell Simmons, Aoki Lee Simmons, Nicole Scherzinger, Bia and Bretman Rock also turned up for them.

Althea Lim, co-founder and group CEO Of Gushcloud, said: “Partnering up with Cordell Broadus and his team has given us key insights to what the future of Web3 looks like as they are at the forefront in the industry.”

She further explained that Gushcloud wants to develop more branded opportunities and marketing solutions for creators and brands wishing to enter the Web3 world. The decision to partner with Broadus was its first step toward that. 

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We talked to a few crypto experts in Asia for advice on crypto investments at a time when the global economy is undergoing a rough patch.

Below are their responses and comments:

Bobby OngCo-founder & COO, CoinGecko

Not just crypto, but financial markets are in a period of significant uncertainty, owing to global geopolitical and macroeconomic turmoil. We anticipate that these adverse conditions may well continue, which will wreak havoc across all asset classes.

The crypto market is certainly not detached from this challenging environment. While the market has dipped significantly in the last six months, investors should make sure that if they’re planning to take a long position, they’ve also taken the necessary risk management measures such as diversification and hedging.

Kenrick Drijkoningen, General Partner at LuneX Ventures & Play Future Fund

It is up to individual risk appetite. I believe many tech stocks are down worse than what bitcoin has been to date, so there’s risk everywhere.

Chris Sirise, Partner at Saison Capital 

Proper risk management is important. Events like these serve as a reminder that building an understanding of cryptocurrency fundamentals is a constant and ongoing process. The pace at which investor education develops must match the evolution of the technology. 

Eddie Thai, General Partner, Ascend Vietnam Ventures

Don’t believe anybody who says they can return 30 per cent regularly and risk-free, and ensure that projects that reach a certain scale have sufficient safeguards in place. Also, diversify your investments; in crypto specifically, only invest what you can afford to lose.

Photo by Dash Cryptocurrency on Unsplash

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The collaboration is part of ADIO’s $545 million innovation programme to drive innovation and growth for global businesses.

ADIO will provide the companies with financial and non-financial incentives to support their growth in Abu Dhabi. ANSR and Talent500 will set up regional headquarters and innovation centres in Abu Dhabi aimed at developing technological solutions to support global workforce transformation.

In addition, Talent500’s global workforce solution aims to attract global ready-to-hire talent and manage the end-to-end setup of high-impact product and technology teams 60 per cent faster.

The UAE has emerged as a leading destination for Indian businesses, including India’s crypto ecosystem, 80 per cent of which have moved to the UAE in the last three months.

In addition, Talent500, a global workforce builder, will establish its regional HQ in Abu Dhabi to provide fast-growth businesses in the Middle East access to top global talent. Aimed at transforming global hiring using artificial intelligence, Talent500 will connect leading technology professionals in product engineering, mobile, cloud and AI/ML with some of the most exciting enterprises in the region.

Talent500 will also partner with local academic institutions to develop training, upskilling and internship programmes in relevant areas.

Vikram Ahuja, CEO of Talent500 and MD at ANSR, said: “Abu Dhabi’s attractiveness as a safe and stable location ranked high for ease of doing business, makes it an ideal global technology hub. We believe that this one-of-a-kind partnership between ADIO and ANSR-Talent500 will result in giant strides for Indian businesses looking to go and create a vibrant deep tech ecosystem in Abu Dhabi.”

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This round doubled the Mumbai-based company’s valuation to $2.15 billion. 

On the backdrop of this massive funding, Startagist talked to CoinCDX co-founder and CEO Sumit Gupta.

Edited excerpts from the interview: 

With the Series D funding round, you have hit the unicorn status. How has been your journey so far?

CoinDCX achieved unicorn status in August 2021, when we concluded our Series C funding round, and the experience was that although it was a fulfilling journey, it was also filled with challenges. 

When we first started CoinDCX, we recall the Reserve Bank of India ordering banks to stop trading with crypto companies. This was especially challenging for us, as it led to an outflow of investors, leaving us without the funds critical to sustaining the company. With a team we could count at our fingertips, we preserved and worked tirelessly to keep the company operational. Our investors eventually came back after the reversal of the ban.

Today, we are an over 400 people-strong team who supported our journey to bring 12.5 million users to the CoinDCX platform and accelerate our growth at breakneck speed to reach unicorn status. 

In India, governments and even individuals have always frowned upon cryptocurrency. Because of these, many early comers could not survive, with some winding up. How did you successfully address challenges, including unfavourable regulations, to grow into a billion-dollar business?

In fronting the country’s pivot towards a digital-first economy, policymakers in India have increasingly demonstrated their receptiveness to crypto-based solutions and willingness to lead stakeholder discussions involving key industry actors and participants. 

As a crypto-focused company in India, we have been proactive in our engagements with regulators, holding frequent conversations with the relevant stakeholders to advance crypto regulations in India.

We are also relentless in our push for crypto education, developing comprehensive training programmes and certifications courses and partnering with multiple universities and higher education institutions to support knowledge building and interdisciplinary learning.

You started in 2018. What was the motivation to start CoinCDX? What is the story behind it?

Neeraj and I have been friends since our college days. Our first achievement was materialising our long-held aspiration of moving to Mumbai and attending the prestigious Indian Institute of Technology, Bombay. Together, we had cryptography classes and immersed ourselves in other new-age technologies. While we always had a keen interest in exploring emerging technologies, our passion grew further in university, and we aspired to establish our startup to reach an untapped and underserved market in India. That led to us co-founding CoinDCX to bring crypto to the masses.

How do you work with the central government to allay the concerns around crypto? Do you think the government will legalise cryptocurrency in the near future?

Governmental support is key for digital assets to reach their full potential and impact India’s digital economy. The first step in any regulatory regime is to accept and acknowledge the emergence of a new asset class. We had seen that happening in India when the government classified crypto as Virtual Digital Assets. To us, we believe that this is a step in the right direction. 

Furthermore, digital assets were given greater legitimacy when included in the government’s overall taxation framework – this is an important milestone in recognition of crypto. As one of India’s largest crypto exchanges, we continuously look for opportunities to strengthen policy conversations through public discourse and foster continued collaboration with the government to introduce favourable regulations and education support programmes. We are confident that they are working rigorously to bring greater regulatory clarity to the space.

How do you create awareness among the people of India?

Driving understanding, education and adoption of crypto and blockchain has always been a core part of CoinDCX’s business. That’s why we launched DCXLearn, a full-fledged crypto learning platform with courses on crypto and blockchain, so that more people can understand the importance of digital assets and their position in the future of finance. We have now brought this education to our app as well.

Through continuously addressing misinformation and driving public awareness of emerging technologies, more people in India would also be able to make informed decisions about trading crypto and find confidence in dipping their toes into digital finance. Especially with the growing ubiquity of digital assets in today’s financial landscape, it is vital to have a gasp on crypto or risk losing relevance in the rapidly evolving digital asset ecosystem. 

You claim to have 1,000 users so far and plan to hit a 1 million user base in 18 months? How do you plan to achieve this ambitious goal?

Currently, CoinDCX has over 12.5 million users on its platform. Only earlier in February this year did we announce our milestone of crossing more than 10 million users. In just a few months, we onboarded nearly three million more — setting us on an unusual upward trajectory. As we continue to grow our business, ensuring that we provide a trusted and safe crypto experience has been and will continue to be the impetus to furthering our user base.

What are the other major challenges faced by India’s cryptocurrency sector? How do you currently operate in a challenging atmosphere?

The regulatory hurdles have often been a major challenge for crypto companies in India. From threats of crypto bans to stringent regulations such as the hefty crypto tax and the onerous tax deductible at source, India’s crypto sector’s resilience has been tested time and time again. However, through all these, CoinDCX has remained steadfast, growing and thriving even in the face of regulatory uncertainties and adversities. Being cognizant of the changing policies, strengthening discussions with policymakers and encouraging a greater understanding of digital finance and emerging technologies such as crypto and blockchain has been essential to overcoming the challenges. 

Do you think India has favourable factors to become a fast-growing crypto market?

Yes, definitely. Asia is a fascinating place to be for digital assets right now. It has all the makings to become a hotbed for crypto and mobile-first societies, a growing middle class, and an ambitious young population that is open-minded and willing to be early adopters of innovative technologies.

India, in particular, has greatly surprised market watchers with the rapid adoption of digital assets in recent years. Despite the regulatory back-and-forths happening in the market, India still ranked second on the 2021 Global Crypto Adoption Index. This speaks to the strength of the market – its demographics, strength in technology and a general willingness by the Indian population to explore crypto. 

At CoinDCX, we are passionate about how crypto education can raise awareness and unlock the potential of digital assets. We believe that once people understand blockchain technology and how it can revolutionise the finance industry (and others), mainstream crypto adoption will be inevitable. CoinDCX, as India’s first crypto unicorn and the nation’s safest cryptocurrency exchange, will be leading India in this charge towards the new Web3 economy, and a future where crypto is more prominent and easily accessible. 

Why do you need a huge amount of capital of $135M? What are your plans with the capital raised?

With the latest successful Series D funding round, CoinDCX is on track to become India’s first decacorn – a testament to how far we have come since the inception of CoinDCX in 2018. With the latest capital raised, we want to grow our existing business/platforms and focus on nurturing India’s crypto and Web3 industry. Education, Innovation and Compliance remain key cornerstones of CoinDCX’s strategy, and we will continue building on these strengths.

In addition, CoinDCX remains committed to crypto education and spreading awareness amongst Indian investors on crypto and blockchain. We have already launched several educational initiatives and campaigns working closely with universities, and will continue to expand DCXLearn, our educational platform that works towards fostering greater understanding and trust for this emerging asset class. We also have plans to launch an Innovation Center to further Web3 and Blockchain adoption in India.

To help support CoinDCX’s vision, we seek to triple our talent pool to over 1000 employees by the end of the year. We aim to nurture local talent through our various outreach programs, research initiatives, and strategic investments. As we continue to expand both our team and outreach, our goals remain the same – to make crypto accessible to all and lead India into the new digital economy.

The web3 industry has not even kicked off in India. How do you plan to make a change here and popularise web3?

We recently announced the launch of CoinDCX Ventures – with a mission to do just that. CoinDCX recognises the importance of leveraging this space and the unlimited opportunities and potential it brings. We are passionate and serious about enabling the growth of the Web3 ecosystem in India. CoinDCX Ventures will have resources to invest in early-stage crypto and blockchain startups, both in India and globally. The CoinDCX Ventures’s mandate is to nurture the crypto and Web3 industry in India and beyond, hoping to serve as India’s gateway to the broader international crypto ecosystem that has already been established. 

Do you plan to enter web3 and metaverse gaming in the future?

We are continuously seeing an influx of unique, creative and innovative collaborations between the worlds of business, technology, fashion, sport and art — particularly as lines between physical and digital worlds become increasingly blurred.

While we have no concrete plans to enter the gaming market for now, it is something we might consider in the future. The crypto and blockchain industry is moving at such a rapid pace with new innovations disrupting the space every day. CoinDCX wants to be at the forefront of it, spearheading the charge towards a new digital future where finance is increasingly decentralised. 

The post There’s general willingness by the Indian population to explore crypto: CoinDCX CEO appeared first on Startagist.

Founded in 2020, Kassio is the brainchild of the three co-founders Sachin Singh, Anuj Yadav and Bharat Vivek, who altogether come with 10+ years of experience of successfully building technology and product-based ventures and strong expertise in crypto solutions and products. Kassio offers a strong proprietary crypto architecture powered by best-in-class wallet security, AML mechanisms and exchange partners. It provides a unified solution for all crypto needs of users where users can Earn, Borrow, Shop, or Trade. 

Speaking at the launch, Bharat Vivek, co-founder and COO, Kassio, said, “We are very excited to launch Kassio as it will be instrumental in providing quality and wholesome crypto offerings esp. in Web3 space. Kassio is an all-season crypto solution – starting from trading to managing digital assets in all market conditions. Our earn product allows users to earn compounding growth on their assets even in the current market crash while our borrow product allows users to create liquidity without losing their price positions. Kassio is a unique one-stop product for new and existing crypto holders.”

With its beta version gone live in the beginning of April, Kassio has received a great traction in the market and registered 30000+ applications on its platform in a short time. More than 60% of these applicants have already registered and verified on the platform and are currently using different Kassio products.

Commenting on the launch, Anuj Yadav, co- founder & CTO, Kassio, said, “We are excited to introduce a proposition that reimagines the way digital-first users perceive and interact with crypto. Kassio aims to be a meaningful partner in their crypto aspiration journey, enabling them to earn, borrow, shop and trade. Our platform leverages cutting-edge technology, enhanced security protocols, and deep-rooted relationships in the industry to prevent AML activities and manage overall liquidity.”

Commenting on the launch, Sachin Singh, co-founder & CEO, Kassio said, “The global crypto industry is projected to reach $4.94 billion by 2030. With our vision to be the pioneers in managing the complete bouquet of crypto financial solutions with crypto as an asset class, we are creating a safe & legally compliant platform. By empowering users to spend crypto in their daily lives, we aim to create a unified solution for all the crypto needs of our users.”

Kassio is a comprehensive crypto platform which allows consumers to perform much more with their Crypto assets. Kassio looks to bring the integration of crypto finance and crypto utility together on a single application. Following are the key features of Kassio:

• Trade – Buy/Sell cryptos with 50+pairs
• Borrow – Crypto backed loans on flexible terms
• Earn – Interest on your crypto holdings upto 13% APY
• Cards – utilize your cryptos to make your next purchase
• Multi fiat wallet – Fund your wallet with INR, EUR, DKK based on your country of residence

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• 50% surveyed women say they save between 25-50% of their monthly income. 
• Mutual funds and equities also emerge as best investment picks by women 
• 80% of respondents have set goal-oriented financial goals for 2022
• Savings, safe investments, retirement, and budgeting are among the top personal finance topics that interest women
• 46% say they prefer EMIs/Buy Now Pay Later to shop online over debit cards/UPI and credit cards 

ZestMoney, India’s largest and fastest-growing Buy Now, Pay Later platform today revealed the findings from a customer survey conducted to understand how women are taking to personal finance and investment decisions. The survey was conducted with a sample of 1900 respondents across key metros and Tier II/III cities in India, majority of whom were Gen Z and Millennials.

According to the survey, 59% of the respondents prefer to invest in gold and fixed deposits and 31% choose Mutual funds and equities as their preferred investment choice. Recurring deposits, real estate and cryptocurrency were some other go-to options. 

While many studies and surveys look at how men manage their money and investments, this exhaustive survey documents the approach women take to their personal finances. According to the survey, women not only prefer low-risk options but also invest for the long term. About 93% of the respondents in the survey were either full-time employees or self-employed. 

Around 80% of the respondents said that they have set goal-oriented investment targets for 2022, indicating increased awareness among women to take greater control of their personal finance

Long-term investment goals remained a top priority for women with buying a house (25%), securing their kids’ future (23%) and retirement savings (15%) figuring top in the list. Purchasing a car, traveling, and wedding were among the other goals. 

Commenting on the survey, Lizzie Chapman, CEO & Co-founder at ZestMoney said, “It is interesting to note the survey findings that many digitally-savvy Gen Z and Millennial women are choosing to save and invest in safe and less risky investments such as gold and FDs. They are also open to investing in mutual funds and equity indicating a larger awareness about financial products. This growing trend of women taking charge of their personal finance will pave the way for their financial independence and inclusion of women in wealth creation. We strongly believe that access to the right information on personal finance can immensely benefit women. We have doubled our efforts over the last year in creating simple, engaging content on personal finances and making it available in vernacular languages too. These are very healthy signs.” 

“Globally we are seeing a trend of the majority of women choosing BNPL over credit cards for simplicity and transparency of pricing. In India, the trend is fast catching up as an increasing number of women choose BNPL to access credit and manage their finances better. Our data indicate that we saw a 143% YoY increase in female customers on our platform last year. This is only expected to grow in the coming years.”, added Chapman. 

As per the survey, 50% of the respondents said they save between 25-50% of their monthly income. 

When asked which is their preferred mode of payment for online shopping, 46% of the female respondents choose EMI/Buy Now Pay Later (BNPL) for flexibility and transparency. Credit and debit cards, cash on delivery were other popular options. 

ZestMoney said the company saw Bangalore, Mumbai, Hyderabad, Pune, and Chennai emerge as the top metros with the highest number of BNPL transactions by female customers last year. Surat, Visakhapatnam, Gurgaon, Kanchipuram, and Tiruvallur figured in the top tier-II cities’ list. 

Electronics, fashion, and lifestyle were the top categories that women spend on in Tier 1 cities, whereas women in Tier 2 markets spent on EdTech courses and upskilling.

According to the survey, fashion, home decor, smartphones, and travel are the top categories from which the respondents plan to make purchases in the next 6 to 12 months.

When quizzed on their understanding of personal finance, 55% of them said they have a good understanding of personal finances. 

57% of the respondents said they get guidance on personal finance from the internet and newspapers while 26% relied on family to make investment decisions. The respondents also said they hope to learn more about savings, investment, retirement plans, and budgeting. Other topics on which they wanted more information included insurance, personal and education loans, and credit options available in the market. 

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Below are 5 platforms with varying approaches to monetization using the blockchain industry.

Gather Network : Reggie Raghav Jerath, CEO and Founder of Gather Network, established the platform with a primary goal in mind ,that is to fix the internet’s broken economic paradigm. Gather Network is a layer 1 blockchain with its own cryptocurrency, GTH. It builds an ecosystem by establishing a new monetisation strategy for content providers, allowing them to harness the idle processing power of their visitors with their explicit agreement to be supplied to corporations and businesses via Gather Cloud. Working towards an ad free internet with better user experience and much more satisfying & fair content monetization model for publishers,  the platform is a unique marketplace model that brings digital publishers and businesses together. All types of spare processing power goes into the system and are re-distributed & recalibrated according to the market’s need. Gather’s expertise in cloud computing and blockchain technology along with their specialty in combining new and existing technologies together are unlocking new revenue and cost saving opportunities for everyone.

Rooba Finance : Rooba is India’s first Institutional grade Crypto and Digital Asset management platform that provides military-grade security. Founded by Srinivas and Arjun Khazanchi, the company helps shorten the learning curve for the traditional financial operators. This helps them design, strategize, back test, and invest in multiple crypto assets across chains, defi protocols, otcs, and exchanges. Through their platform, institutions would be able to connect to any exchange in the world, any lending platform, De-fi or Ce-fi.  They enable a mechanism where large funds can be deployed safely and securely through our military grade wallet and secure network. This will allow institutions to participate in this growing space without any worries. Thereby, allowing investors to safely access returns which would be unheard of in the traditional finance world.

Unocoin : Unocoin: Founded by Sathvik Vishwanath Unocoin is a Bangalore based technology startup and the largest BTC-INR trading platform which enables Indians to sell, buy, store, use and accept bitcoin in a safe and secure set-up.It has been leading the industry since 2013 and allows freedom to gain access to real-time market data. This exchange is the most trusted crypto for trading in India. They offer the potential to business a variety of digital assets on safe and intuitive trading platforms and enables over-the-counter trade for bulk transactions. The Bitcoin trading platform has rolled out many initiatives starting with accessing a dozen gifting options across food, travel and lifestyle. The tech platform has been a major pioneer in securing the essential Fastag implementation along with introducing asset uniformity options with Crypto Basket. Unocoin offers people feasibility in making transactions through a simple app for Android and iOS, website and API.Unocoin continues to serve the crypto industry with higher volume trading on more than 50 assets.

Hyperlink Infosystem: Ahmedabad-based startup Hyperlink Infosystem was founded in 2011 by Harnil Oza. Started as a mobile app development company, Hyperlink Infosystem ventured into the blockchain, AI, and IoT space in 2019. Today, this B2B startup caters to the blockchain requirements of businesses by offering solutions such as cryptocurrency wallet, hyperledger blockchain development, private blockchain, Ethereum cryptocurrency and smart contracts. Over the years, Hyperlink Infosystem has expanded its footprints to the USA, UK, UAE, France and Canada regions. 

KrypC: Bengaluru-based KrypC was founded in 2016 by Ravi Jagannathan and Karthik Balasubramanian. The B2B company helps enterprises build, deploy and manage blockchain solutions. KrypC’s products include KrypCore Studio and V-Board Framework. KrypCore Studio is a low-code blockchain application development studio that helps enterprises translate their innovative use-cases into a blockchain solution. It accelerates their innovation by eliminating time-consuming, complicated and resource-intensive development processes and with minimal code.

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There is an overarching theme of boosting digitization & entrepreneurship via tax incentives for another year and by earmarked capital expenditure & promoting startups in sector such as defense, agriculture, drone, digital currency, data centers, animation etc.

 There is no doubt it will lead to an accelerated trend of global investments and growth for the Indian start ups.

Rajat Singhania, Founder of HyLyt by SocioRAC said, I welcome this budget, which is:- keeping up with the need of the times (Data centers now counted as infrastructure, Crypto holding accepted as legal, e passports, National Digital Health system),
– leverages India’s strength (Push to agro startups, using Drones to solve India specific problems)
– progressive (Job creation, Economic growth at more than 9%)
and
– innovative (PM Gati shakti, EV battery swapping policy)

Key Updates; Union Budget 2022:-
-Economic growth in FY22 to be pegged at 9.2%
-Introduction of a central bank digital currency (RBI Crypto)
-Creation of 60 lakh jobs announced: Creation of 60 lakh jobs
-Seven engines of PM gati shakti – roads, rail, airways, ports, waterways, mass transport, logistics.
-FM’s mega push for infrastructure development under PM Gati shakti
-Start-ups in agriculture sector encouraged with commitment to provide support for FPOs, technology including IT based support.
-Start-ups to be promoted to create Drone-shakti. Government to promote Drone-as-a-service: Drones to be used for crop assessment, digitization of land records, spraying of insecticides.
-E-passports to be rolled out
-An open platform for the National Digital Health Ecosystem will be rolled out.
-A push for Electric Vehicles: A battery-swapping policy to be brought out with interoperability standards to boost EV eco system
-Data centers to get Infra Status.
-The government will tax income from digital asset transfers at 30% giving it a legal status in India
-Period of incorporation for eligible start-ups to claim the tax benefit is extended by 1 year.
Lots has been done, more needs to be done for sure but this is surely a step in that direction.

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Nearly 438 bitcoins worth over INR 20 crore (US$3.1 million) were stolen from a leading crypto currency exchange in India, according to reports.

According to the police investigating the case, this is the biggest ever cryptocurrency theft in the country so far.

The police have seized the servers of Delhi-based Coinsecure to ascertain the extent of the system breach. The investigation will also look into whether the wallets of the users have been compromised.

Coinsecure has filed an FIR with the cyber cell accusing its CSO, Amitabh Saxena, of siphoning of the money from the firm’s wallet. The exchange has urged the government to seize Saxena’s passport, fearing that he may leave the country.

A case has registered under IPC sections and Section 66 of the IT Act.

In a message on its website, the company said:

“Dear Users, We regret to inform you that our Bitcoin funds have been exposed and seem to have been siphoned out to an address that is outside our control. Our system itself has never been compromised or hacked, and the current issue points towards losses caused during an exercise to extract BTG to distribute to our customers. Our CSO, Dr. Amitabh Saxena, was extracting BTG and he claims that funds have been lost in the process during the extraction of the private keys.

An FIR has been lodged with the Cyber Cell, Delhi (copy of the complaint enclosed), and we have expert investigators already on the case.

We are working round the clock to restore services and to try and recover all of the lost funds, and we shall keep all our users posted on the outcome of the details to ensure utmost transparency.

Coinsecure has always been a progressive company, and we have proven our commitment towards that. Our Android and iOS apps were recently launched, and we were at the cusp of moving into a multi-coin architecture before this incident.

We are hoping that as users of Coinsecure, you will stand by us in this hour of need by providing us with your help and support as we diligently work to ensure that all of our customers’ funds are recovered and to leave no stone unturned. Irrespective of funds being recovered, we re-assure all our customers that you will be indemnified from our personal funds.

We again take this opportunity to thank you for your continued support and cooperation.
Warm Regards, Team Coinsecure.

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