Let’s have a look at major Indian crypto startups making waves in crypto sector. With lifting of banking ban Indian crypto sector has got huge boost. Bangalore is the IT hub of India and most startups are based there though other cities are expected to pickup soon.
Major Crypto Exchanges
Wazirx is a centralised exchange recently acquired by Binance. it’s native token is WRX which is quite similar to Binance token BNB. It’s CEO is Nischal Shetty who was one of the main voice behind #indiawantscrypto campaign to lift the ban by RBI.
It came up with P2P solution to sirvive during banking ban. Wazirx also devised it’s P2P system during banking ban to survive.
Coindcx is another exchange . It was the first exchange to resume INR deposit after supreme court removed banking ban by RBI. It’s based in Mumbai.
Zebpay was first centralised exchange to provide bitcoin buying and selling in India but it lost touch after RBI banking ban . It moved overseas and has comeback after ban is removed.
Zebpay has changed its leadership. Even after getting the headstart in indian crypto market, it was unable to sustain it.
Unocoin is another exchange , it also stopped services after banking ban and has resumed services after ban lifted by Supreme Court.
Blockchain Scaling Solution
Matic network is a second layer scaling solution for Ethereum blockchain.
Marlin Protocol is an open protocol that provides a
high-performance programmable network infrastructure for Web 3.0.
It’s founded by graduates of IIT Mumbai and Matic network and binance labs are its partners.
Decentralised Social Media
Murmur is a decentralised micro-blogging social media using Telos blockchain which is a sidechain of EOS blockchain.
The company says it’s a new-age, blockchain-based, decentralized microblogging platform. It’s open, transparent, and allows users to monetize their content.
Due to congestion problems in EOS main chain it shifted to Telos sidechain.
Ncash is using blockchain technology to provide advanced solutions for retail market.
Instadapp is a defi(decentralised finance) dapp. It helps in switching different defi protocols to give you best interest.
It’s a Smart Wallet to Decentralised Finance where you can perform complex financial activities like borrow, lend, leverage, swap etc in a very simpler manner.
It’s based in hyderabad, it’s cofounder and CEO Sowamay jain is just 21 year old, quite a achievement at young age.
There are many Indian crypto startups trying to innovate in blockchain sector. With lifting of banking ban it’s expected that more investments and new startups will be seen in near future.
Many indian crypto startups didn’t survive the bear market and shut down. Some may revive which were doing great before banking ban like koinex.
It will be great to see which of these startups will reach heights in next couple of years.
Crypto market is very volatile , always risk the money you are willing to loose. It’s an unregulated market and nascent technology for now, so hacks ,manipulation are common. With time the technology will mature but you should be very careful before investing in any crypto.
If you are owner of a crypto startup based in India or have knowledge of any new startups just message me, i will add it after doing research.