Coinsecure, the domestic Bitcoin trading platform, has raised $1.2 million as part of its ongoing 'Series A' investment round.
The company opened the fund-raising round earlier in January and expects to close the round soon, an official statement said.
Coinsecure, which was formed with the objective of creating a Bitcoin ecosystem in the country, offers an algorithmic trading Bitcoin exchange, a Blockchain explorer, full free API’s for all their products, a mock trading platform for users to trade without real money and On-Chain and Off-Chain wallet services. It has a number of integrations with global partners including Netki.
The platform was founded in July 2014 by Mohit Kalra and Benson Samuel and it launched its Bitcoin exchange on January 1, 2015. The company has been working on bringing legitimacy to the concept of cryptocurrency.
The statement quoting Benson Samuel, the CTO and Co-Founder of Coinsecure, said: “The coming years are all about improving our products, building new ones, and providing enterprise Blockchain solutions, to address some key pain points in the crypto space.” Samuel has a clear vision for further innovation involving Blockchain technology in various industries, including the banking and manufacturing sectors, apart from others.
Coinsecure has robust practices aimed at user security and compliance and constantly evolves its platform. Several of Coinsecure's outreach programmes across India have enabled numerous schools, colleges and IT/ ITeS departments to understand this technology, implement and use.
According to Mohit Kalra, the Founder and CEO of Coinsecure, “India needs a strong case to start using Bitcoin. And Coinsecure is on the verge of delivering a solution for Indian merchants and users to engage with Bitcoin, and its experience, without any volatility or conversion risks.”
Coinsecure has the highest liquidity and volumes compared to all the other Bitcoin exchanges and brokerages in India. It has maintained fully transparent and open order books, with records starting from the very first trade back in January 2015. The company now consistently handles over 3000 BTCs a month in terms of volume and has shown increasing volumes every month since they started operations, the statement said.