India CoinDCX Ambitious To Expand Cosmex Crypto Exchange Globally

Comsex crypto exchange will soon go international. (photo: picbay)

JAKARTA - The ongoing uncertainty surrounding the regulation of https://voi.id/tag/1208/mata-uang-kripto in India has not stopped domestic crypto companies from launching global offerings.

Indian cryptocurrency exchange CoinDCX is preparing to move forward with its global crypto-to-crypto trading platform – dubbed Cosmex – in 2022, according to a senior executive at the company as quoted by Cointelegraph.

Ramalingam Subramanian, head of branding, marketing and communications at CoinDCX, told Cointelegraph that CoinDCX has significant ambitions regarding the exchange's global expansion as the upcoming platform will target a global audience.

The company initially announced the development of Cosmex in February 2021, planning to expand CoinDCX's footprint to global markets amid growing global demand and acceptance for the cryptocurrency.

According to Subramanian, Cosmex's launch will come "most likely next year" and will initially launch in Western Europe and Southeast Asia.

Cosmex “has nothing to do specifically with what is happening in India,” Subramanian emphasized, adding that the platform is making more of an effort to respond to the “huge demand” for crypto services outside India.

He added that CoinDCX did not want to add to the speculation surrounding regulatory uncertainty in the country

India by discussing a scenario where Indian regulators take a tougher stance on the industry.

Subramanian noted that CoinDCX's main platform is “focused on India in general” and has restrictions for certain countries.

After lifting a major ban on crypto services in 2020, Indian authorities have reportedly considered other restrictions for the industry.

However, experts believe that the Indian government will most likely choose to regulate rather than ban the growing crypto economy.