Indian digital currency exchange Coinsecure has revealed today that it has raised $1.2 million so far in an ongoing Series A funding round that began in January of this year.
Coinsecure is one of India’s largest bitcoin exchanges by volume – doing around 3000 BTC in trade volume on a monthly basis – and is currently an industry member of the Bitcoin Foundation as well as a Silver Founding Donor for the BitGive Foundation, the first 501(c)(3) Nonprofit bitcoin charity in the US.
Coinsecure first launched its bitcoin trading platform in January of this year and has quickly become a leader in India’s rapidly growing digital currency ecosystem. Founders Mohit Kalra and Benson Samuel envision a future where digital currencies and blockchain-based payment systems become an integral part of India’s financial system, “The coming years are all about improving our products, building new ones, and providing enterprise Blockchain solutions, to address some key pain points in the crypto space.” said Benson Samuel, CTO of Coinsecure.
In the press release, Coinsecure CEO Mohit Kalra explained that the new infusion of funds will allow his company to grab a bigger slice of India’s bitcoin market and to begin introducing alternative blockchain products.
“The funds raised by the company will be used to expand the company’s reach in both domestic and international markets. Coinsecure will also be using these funds to further explore global markets and to introduce Ethereum and other Blockchain innovations.”
According to today’s announcement, Coinsecure has plans to enter the enterprise solutions market with various blockchain-based innovations.
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