MEXCJust-In: CoinDCX and Koinex Merge to Propel Crypto Adoption in India
Highlights
- CoinDCX and Koinex collaborate to resolve asset withdrawal issues for users affected by Koinex's closure in 2019, restoring trust in web3 sector
- Seamless transition process ensures hassle-free access to assets via CoinDCX for existing Koinex users.
- CoinDCX reaffirms commitment to the Web3 community and remains open to further partnerships for ecosystem growth.
In 2019, Koinex ceased operations due to business and regulatory challenges. CoinDCX has stepped in to facilitate access to assets for 1 lakh users. This partnership seeks to enhance crypto adoption and trust in India’s web3 landscape.
CoinDCX has entered into an agreement with Koinex to address the concerns of Koinex users following its closure. This partnership ensures a smooth transition for one lakh existing Koinex users to access their assets through the CoinDCX platform. The move is geared towards providing a secure and transparent Virtual Digital Asset (VDA) ecosystem in India.
As India’s leading and FIU-compliant exchange, CoinDCX is committed to fostering a secure and transparent VDA ecosystem in the country. The merger with Koinex underscores CoinDCX’s dedication to providing a robust platform for crypto enthusiasts while navigating regulatory challenges.
Seamless Transition Promised for Existing Koinex Users to Access Assets via CoinDCX
Existing Koinex users can expect a seamless transition process to access their assets through CoinDCX. The merger ensures a hassle-free experience for users as they navigate the transition from one platform to another.
For users with existing CoinDCX accounts and matching KYC details, assets will be automatically transferred to the CoinDCX platform. However, for those requiring KYC verification or without matching details, a straightforward onboarding process is in place to facilitate access to their assets.
To provide personalized assistance and support, CoinDCX has established a dedicated customer support desk for Koinex users. This initiative aims to ensure a smooth and reassuring experience for users throughout the integration process.
Also Read: WazirX CEO Urges India’s CBDC Integration On Public Blockchains To Curb Stablecoin Risks
CoinDCX Co-founder Emphasizes Support for Web3 Community and Empowerment of Users
Sumit Gupta, Co-founder of CoinDCX, underscores the company’s commitment to supporting the Web3 community and empowering users. Through initiatives like the merger with Koinex, CoinDCX aims to contribute to the growth and development of the crypto ecosystem in India.
The merger between CoinDCX and Koinex holds significant importance in fostering crypto adoption in India. By providing solutions for Koinex users and navigating regulatory challenges, the merger paves the way for broader acceptance and usage of cryptocurrencies in the country.
CoinDCX remains open to further partnerships that enhance value for users and contribute to ecosystem growth. The company’s willingness to collaborate with other players in the industry reflects its commitment to driving innovation and expansion within the crypto landscape in India.
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