India’s CoinDCX crypto exchange publishes proof of reserves

Cryptocurrency exchange CoinDCX, India’s first crypto unicorn, published its proof of reserves on Thursday.

See related article: Indian crypto exchange CoinSwitch says proof of reserves shows sufficient reserves to match clients’ stake

Fast facts

• CoinDCX’s on-chain and off-chain assets are now accessible to the public with a complete list of wallet addresses, the company said in a statement emailed to Forkast.
• CoinDCX plans to post monthly updates on its reserves-to-liability ratio.
• The exchange has maintained a user-liability to assets ratio greater than 1:1, Sumit Gupta, co-founder of CoinDCX, said in the statement.
• CoinDCX, valued at US$2.15 billion after a funding round in April, is backed by investors including Pantera Capital, Steadview Capital, Kingsway, Polychain Capital, B Capital Group, Bain Capital Ventures, Cadenza, Draper Dragon, Republic, Kindred, and Coinbase Ventures.
• See related article: CoinMarketCap launches proof-of-reserve tracker for crypto exchanges