CoinDCX, a prominent cryptocurrency exchange in India, has joined forces with Mesh, a finance solutions company based in the US, with the goal of enhancing the transfer and management of digital assets for its users.
This partnership brings a more streamlined process for transferring assets between centralized exchange accounts and decentralized finance (defi) wallets directly on the CoinDCX platform. By simplifying digital asset deposits, users can now engage in secure and hassle-free transactions without having to leave the CoinDCX ecosystem.
Mesh’s co-founder and CEO, Bam Azizi, expressed his enthusiasm for venturing into the Indian market through this collaboration. He highlighted the potential of this partnership to streamline digital asset management, acknowledging India’s importance as a vibrant and pivotal market.
Founded in 2020, Mesh is a pioneer in developing a secure and interconnected financial ecosystem. Through its platform, Mesh aims to facilitate digital asset transfers, crypto payments, account aggregation, and trading, creating an embedded financial ecosystem that benefits both businesses and consumers.
In January, Paypal’s venture arm invested $5 million of its PYUSD stablecoin into Mesh, further solidifying its position in the industry.
Mesh serves as a convenient way to transfer funds between various platforms, including crypto exchanges, wallets, and financial apps that support cryptocurrencies. Azizi emphasized that the service eliminates the need for users to manually enter long strings of characters, a common practice in crypto transfers that poses security risks. Instead, Mesh users can easily navigate transactions through an in-app menu.
The recent collaboration between CoinDCX and Mesh may be a response to the growing demand for cryptocurrency exchanges and the significant increase in trading volumes in India. CoinDCX witnessed a fivefold surge in trading volumes within a month, starting from $5 million in February and reaching approximately $25 million by the end of the month. Sumit Gupta, the co-founder of CoinDCX, attributed this remarkable growth to the rising prices of Bitcoin.
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