CoinDCX became India’s first crypto-company unicorn in August 2021, when it raised $90 million in a Series C round at a $1.1 billion valuation. Founded in 2018 by IIT Bombay alumni Sumit Gupta and Neeraj Khandelwal, the company reached that milestone by expanding from crypto-to-crypto trading into INR access and products aimed at different kinds of users. The “first” refers to India’s crypto-company category at that time—not India’s first unicorn overall, and not CoinDCX’s current valuation.
Who founded CoinDCX, and when did it start?
CoinDCX identifies Sumit Gupta and Neeraj Khandelwal as its co-founders and says the company was established in 2018. Both founders are IIT Bombay alumni, according to the company’s about page. CoinDCX’s account of its early history dates its launch to April 2018.
The founders were building an exchange while the place of cryptocurrency in India’s financial system remained uncertain. CoinDCX’s retrospective says an RBI banking restriction was circulating around the time of its launch. That account is the company’s own framing of the period; contemporaneous reporting in 2021 still described debate among Indian policymakers over digital currencies.
How CoinDCX adapted its products
CoinDCX’s company-reported timeline shows a sequence of products and initiatives rather than one unchanged exchange. The early milestones suggest an effort to serve users with different entry points and levels of familiarity. They are historical descriptions, not confirmation that each product or feature remains available today.
#1 Best Overall
- ★REAL LEATHER: This wallet is MADE IN INDIA and comes in 2 leather qualities, namely Nappa and Crazy Horse. Nappa leather is conventional drum dyed leather which is finished with natural pigments to attain a smooth and buttery touch, while Crazy Horse is vegetable tanned and sprayed with oils and waxes to give a distressed look with warm and soft touch.
- ★ELITE FEATURES: ID windows allow for quick access when traveling or at the store /working place. With 5 card slots and 2 more slots behind them, it’s easy to carry all your important cards, meet all your daily needs.
- ★RFID BLOCKING ANTI THEFT SECURITY: Our wallets are anti theft, equipped with advanced RFID SECURE Technology, a unique metal composite, engineered specifically to block 13.56 MHz or higher RFID signals and protect the valuable information stored on RFID chips from unauthorised scans and make them anti theft.
- ★COMPACT DESIGN: Making this bifold superb for travel, and everyday use, keeping cards safe and organized! It holds 8+ cards, and lots of cash!
- ★GIFT BOX PACKING: It is one of the most special gifts for Groomsmen, Birthdays, Anniversaries, Father's Day, Christmas and other Special Occasions.
2018: crypto-to-crypto trading, then INR access
CoinDCX says its April 2018 launch was a crypto-to-crypto exchange using liquidity aggregation. In August, it introduced Insta, which the company described as an INR fiat on-ramp and off-ramp. Its retrospective said users could use INR to buy more than 80 cryptocurrencies through the product; that figure describes the historical launch period, not a current product count.
2020: expansion beyond basic trading
CoinDCX’s 2021 retrospective lists a $0.5 million seed round and a range of 2020 launches or partnerships. These included futures, the #TryCrypto initiative, DCX Learn, BitGo, Onfido and staking. The list reflects milestones reported by the company; it does not establish that any one product or partnership caused the company’s later valuation.
Rank #2
- Slim and Thin Wallet - This minimalist bifold wallet measures 4.3x3.2x0.6 inches and stores up to 15 cards. The bifold wallet perfectly fits in your pocket and is well-suited for everyday carry
- Elite Features - 2 ID windows (DL & Other ID Cards) and 2 quick slots allow for quick access during travel, shopping or work. With 15 card slots and 2 more slots behind them, it is easy to carry all your important cards,cash and bills, meet all your daily needs
- RFID Blocking- Our wallets are equipped with advanced RFID SECURE Technology, a unique metal composite, engineered specifically to block 13.56 MHz or higher RFID signals and protect the valuable information stored on RFID chips from unauthorized scans.License and ID cards will be protected effectively. No more worrying about unauthorized scans during travel, shopping, or daily commuting!
- Durable Surface - Our leather wallets are pressed with high quality 3 layers leather, which is more durable than 2 layers leather wallets. The surface of the leather is made more scratch-resistant by special treatment, which can effectively prevent small scratches caused by keys and buttons in life
- Gifts for him - The thin wallet comes in classy gift packaging. It is a perfect present for birthdays, anniversaries, Father's Day, Valentine's Day, Christmas and other special occasions, so you can easily gift it to someone you love
The company also says it joined IAMAI in a petition challenging the banking restriction. This places product expansion alongside an effort to contest barriers to banking access, rather than suggesting that policy uncertainty had disappeared.
2021: products for beginners and compliance work
CoinDCX’s timeline records the CoinDCX Go app launch in January 2021 and a Coinfirm anti-money-laundering collaboration in May. These illustrate two distinct priorities in the company’s account: onboarding users and developing compliance-related tools. Its timeline also reports user milestones, but those are dated company claims, not current user figures.
Do these 3 things before closing this tab:
1Clear out junk files and repair common Windows errors2Scan for outdated or missing drivers - takes under a minute3Repair Windows errors before they cause bigger problemsRank #3
- 💳 QUICK ACCESS & LARGE CAPACITY HOLD UP 1-12 CARDS: This mens wallet designed with enhanced enjection mechanism button to pop up cards quickly. The aluminum card holder holds 4-6, depends on the number of embossed cards, and the expandable metal backplate holds 5-6 additional cards. The actual capacity depends on the card thickness.
- 💳 ULTRA THIN PROFILE (SLIM WALLET FOR MEN): The minimalist tactical wallet is very thin and can be carried comfortably in a pocket. The aluminum cardholder size is 3.9*2.5*0.5in,weight only 2.6oz. And expandable backplate designed for additional storage. Ditch the bulk, less is more.
- 🔒 RFID & NFC BLOCKING: This smart wallet use advanced aluminium technology to protect your cards from unauthorized and contactless scanning. Stop thieves from cloning your bank cards and prevent data theft.
- 💳 KEEP CARD TIGHTLY: Our pop up wallet with inside silicone strip that keeps your cards to be held tightly compared with normal felt. No worry cards will fall out.
- 🎁 PERFECT PRESENT IDEA: Our minimalist wallets packed with a pretty box. Aluminum wallet for men is a great present for boyfriend, brother, son, husband, dad, or your male friends on christmas, birthdays, anniversaries, and father's Day.
What made CoinDCX a unicorn in 2021?
On 9 August 2021, CoinDCX announced a $90 million Series C led by B Capital Group, with returning investors Coinbase Ventures, Polychain Capital, Block.one and Jump Capital. The company put its valuation at $1.1 billion. CoinDCX’s funding announcement said it planned to use the investment for product development, global expansion and hiring.
Al Jazeera/Bloomberg’s contemporaneous report on the round also gave the financing as $90 million, or 6.70 billion rupees, and the valuation as $1.1 billion. In that context, “unicorn” meant a privately valued company reaching a valuation of at least $1 billion. The milestone made CoinDCX the first Indian crypto exchange or crypto startup reported to cross that threshold; it did not make it India’s first unicorn in every sector.
Rank #4
- STYLISHLY SMALL, SLIM & DISCREET: Measuring just 3 1/8" x 4 7/16", our RFID front pocket wallet is designed to be super thin and exceptionally slim. Its modern, minimalist profile fits perfectly in your pocket, purse, or travel pack without adding bulk.
- SURPRISINGLY SPACIOUS: Though slim, it features 8 slots to easily organize your essentials. Comfortably holds your driver's license, credit cards, debit cards, and membership cards, keeping everything you need right at your fingertips.
- ADVANCED RFID BLOCKING: Our slim wallets for men and women are outfitted with advanced RFID SECURE Technology. They block electronic signals to keep your identity protected while you travel, shop, or explore, safeguarding you from digital theft.
- DURABLE & STYLISH FAUX LEATHER: Crafted from premium synthetic leather, this minimalist wallet sleeve combines a luxurious look and feel with everyday functionality. Its durable construction is designed to withstand the rigors of daily use, travel, and shopping.
- THE PERFECT UNISEX GIFT: With its sleek design and practical security features, this wallet is a popular choice for both men and women. It arrives ready for gifting, making it an ideal present for the frequent traveler, minimalist, or anyone in your life!
The two figures describe different things: $90 million was the amount raised in that financing round, while $1.1 billion was the company’s stated valuation. A private-round valuation is not the same as cash raised, proof of profitability, or a current valuation.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the 2021 milestone does—and does not—say
The funding round arrived amid unresolved policy debate. In the 2021 Al Jazeera/Bloomberg interview, Sumit Gupta, then CoinDCX’s co-founder and CEO, said, “I am pretty sure the industry will be regulated at the right time.” He also said, “We have chosen to put at stake our money and career as we feel this is going to be a very good wealth generation opportunity for people.” Those comments record Gupta’s views at the time; they are not current regulatory guidance or an independent assessment of crypto-investment risk.
Best Value
- Slim & Bulk-free: This slim wallet for men measures 4.41 x 3.15 x0.75 inches can hold up to 12 cards/IDs and 10-15 bills. Its compact design is perfect for all-day comfort in your front or back pocket without bulk, offers great portability for travel, explore and everyday use
- Large Capacity & Smart Organization: Features dedicated slots for 10 credit/debit cards, 2 clear ID windows for DL & other ID cards, and a discreet compartment for cash or receipts, this card wallet for men is easy to carry all your important cards, meet all your daily needs
- RFID Anti-Theft Security: Equipped with built-in RFID shielding lining, which efficiently blocks RFID signals of 13.56 MHz or higher to protect your credit cards, IDs, and passports from unauthorized scanning, keeping your personal information secure on-the-go
- Durable Material, Built To Last: Crafted with premium carbon fiber for exceptional durability while remaining incredibly lightweight, this minimalist wallet stands out both in quality and style, it will be a good company for you in years to come
- Great Gift: Minimalist aesthetics meet practical functionality, this men’s wallet is one of the most decent gifts for men on Birthdays, Anniversaries, Father's Day, Christmas, Groomsmen, and other Special Occasions
CoinDCX’s current about page continues to describe the company as established in 2018 and lists products and services including the CoinDCX app, CoinDCX Pro, API, DCX Learn and ventures. Those company descriptions do not establish its present valuation, the risks of using a particular product, or its comparative market position. CoinDCX also carries this warning on its site: “Crypto products & NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.” That is the company’s stated warning, not a legal conclusion for every product or jurisdiction.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
