New funding from CoinFund will help Delta establish a further presence in the Indian market.
Crypto derivatives exchange Delta Exchange has announced a new injection of funding from blockchain investor CoinFund, aiming to provide strategic resources for both parties in their focus to expand in India.
According to the announcement, New York-based firm CoinFund looks forward to implementing its first venture investment in India following the recent lifting of the Reserve Bank of India’s ban on banks serving crypto-related firms.
Big opportunities in the Indian crypto derivatives market
Speaking to Cointelegraph, Alex Felix, managing partner of CoinFund, said:
“The crypto market opportunity in India is big! The combination of the Supreme Court’s decision to invalidate RBI’s ban on crypto, increasing local interest, and Bitcoin’s momentum have primed the market for imminent explosive growth.”
“India is a hotbed for innovation and there hasn’t been a domestic sandbox for crypto innovation until the supreme court invalidated the RBI ban earlier this year," Felix said.