CoinDCX

CoinDCX operates a centralized cryptocurrency exchange that generates revenue primarily through trading fees on spot and derivatives transactions. The fee structure follows a maker-taker model, with discounts often tied to the platform's native token utility. The firm also earns from margin trading interest and withdrawal fees, though it does not break out its financials publicly.

Okto is a separate self-custodial decentralized finance wallet and blockchain built by the same founding team that created the CoinDCX exchange. While the exchange holds user funds in a custodial, regulated environment and provides fiat on-ramps, Okto is a non-custodial product that abstracts private-key management and cross-chain transactions for users. The two products target different stages of a retail investor's crypto journey, with Okto designed as a gateway to DeFi and Web3 applications.

CoinDCX has raised capital from a mix of global crypto-native funds and traditional venture firms. Known lead investors include B Capital, which anchored the Series C round in 2021, and Coinbase Ventures, Pantera Capital, Polychain Capital, and Block.one participated in earlier funding rounds (per TechCrunch, 2021). The presence of Coinbase Ventures marked one of the first direct equity investments by the US exchange into an Indian crypto business.

CoinDCX is registered as a reporting entity with India's Financial Intelligence Unit (FIU-IND), which imposes anti-money laundering and counter-financing of terrorism obligations. The Indian crypto regulatory framework remains under development, with the sector subjected to a 1% tax deducted at source on transactions and a 30% tax on gains since 2022. CoinDCX has publicly advocated for a progressive regulatory regime through its role in the Bharat Web3 Association.

In May 2024, CoinDCX expanded internationally by acquiring BitOasis, a cryptocurrency exchange based in Dubai and licensed by the Virtual Assets Regulatory Authority (VARA), per Bloomberg. The acquisition gives CoinDCX an operational foothold in the Middle East and North Africa region. The firm has not announced additional geographic expansion beyond India and the UAE.

Unlike global platforms that prioritize a self-custodial wallet, CoinDCX built its centralized exchange first to serve India's regulatory and banking environment, then launched Okto as a companion DeFi chain rather than replacing the exchange model. The Okto wallet abstracts key management and gas fees to reduce entry barriers for first-time DeFi users, which is distinct from the globally common approach of pushing users directly to a standalone self-custody wallet.

Co-founder Sumit Gupta serves as CEO and drives overall corporate strategy, including the BitOasis acquisition and Okto's development roadmap. Co-founder Neeraj Khandelwal is the Chief Technology Officer and leads the engineering organization behind both the centralized exchange infrastructure and the Okto decentralized wallet chain. No separate chief investment officer role is publicly designated.