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CoinDCX, an Indian cryptocurrency exchange platform, has decided to allow users to integrate DeFi wallets within the platform. The goal is to facilitate connectivity between centralized exchanges and DeFi wallets. To this end, the exchange announced a partnership with US-based fintech company Mesh. This allows exchanges to attempt to get app visitors to spend more time on the platform. Indian investors are flocking to Indian exchanges after the government imposed compliance obligations on foreign investors.

CoinDCX claims to cater to a user base of 16 million. Recently, the exchange declared compliance with the regulations of India’s Financial Intelligence Unit (FIU) and certified that it is a safe business to trade in India.

CoinDCX co-founder Sumit Gupta commented on the issue, calling it a ‘game changer’ for CoinDCX. Mesh offers advanced API integrations that can simplify the digital asset management process for exchange users.

“Solutions like Mesh simplify the complexity of the cryptocurrency industry, significantly improving the usability factor of our platform,” said Gupta.

Meanwhile, as far as Mesh is concerned, the US-based platform is using this opportunity to enter the cryptocurrency sector in India.

“We are very excited about the impact this collaboration will have on one of the most dynamic and important markets. We are very excited about the impact this collaboration will have on one of the most dynamic and important markets,” Bam Azizi, co-founder and CEO of Mesh, commented on the development.

CoinDCX has taken several steps to establish itself as a popular cryptocurrency exchange for investors in India’s evolving landscape. Last February, CoinDCX began allowing users of the now-defunct KoinX to access funds locked up on the exchange.

The exchange has also launched a new cryptocurrency awareness campaign called KnowBitcoin, which aims to provide a detailed overview of the world’s first and most expensive cryptocurrency.

Cryptocurrencies are unregulated digital currencies rather than legal tender and are subject to market risk. The information provided in the article is not intended and does not constitute financial advice, trading advice or any other advice or recommendation provided or endorsed by NDTV. NDTV is not liable for any loss arising from investments based on perceived recommendations, forecasts or other information contained in the article.

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