Crypto Exchange CoinDCX Investing $1.3M USD In Indian Crypto Education

Crypto exchange CoinDCX has announced that it will allocate $1.3 million towards increasing awareness and adoption of cryptocurrencies in India.

The funds will reportedly go towards a campaign called Try Crypto that will operate as a long-term project and will aim to introduce 50 million Indian consumers to cryptocurrency markets. The campaign will include several webinars, online courses and events for the community in a bid to increase awareness of blockchain and cryptocurrency.

“Only 5 million people in India currently hold cryptocurrencies — less than 0.5% of the population,” said Sumit Gupta, CEO and co-founder at CoinDCX. “We believe, however, that by educating consumers and combating negative preconceptions of the industry, we can boost the number from 5 million to 50 million so that everyone can unlock the benefits of digital assets. In order to achieve this seachange, we are working with a host of industry partners and implore all like-minded businesses to help us work with consumers to — Try Crypto.”

The announcement came after the Supreme Court of India lifted a central bank-imposed ban that prevented crypto businesses from accessing financial services. A bench of three justices ruled that the Reserve Bank of India’s (RBI) crypto ban was unconstitutional.