On Wall Street, technology startups that reach a valuation of a billion dollars are called "unicorns." SpaceX and Instacart are notable examples of unicorns, and this designation can be easily extended to the cryptocurrency and blockchain development world. One of the most famous crypto unicorns is Bitmain, which reached its billionaire valuation in 2018. The newest member of this club is an India-based fintech company that goes by the name of CoinSwitch Kuber.
The pace of blockchain development in India has greatly accelerated over the last two years, and one of the reasons that explains this business trend has to do with China. Despite being a leader in the development of blockchain development, China is not a jurisdiction where cryptocurrency transactions are welcome. Chinese financial regulators have pretty much prohibited all types of crypto activity that can tangentially compete against the digital yuan project; this gives Indian financial technology startups a competitive edge because of the more flexible regulatory climate.
CoinSwitch Kuber is essentially a cryptocurrency exchange platform that is currently valued at $1.9 billion. The strength of this unicorn is that it is geared exclusively to the Indian market, which happens to be quite large and potentially lucrative. Crypto market analysts have praised CoinSwitch Kuber for its user-friendly interface and functionality. Furthermore, it is widely regarded as one of the best exchanges for making money on the decentralized, unregulated crypto market, as it is the only exchange that provides a market share to all types of cryptocurrency.
With its modest and unassuming name, CoinSwitch Kuber has managed to achieve so much. This platform is regarded as one of the best cryptocurrency exchange in the world, and they don't even claim to be a cryptocurrency exchange. They don't seem to care about the fact that their name is not easily pronounceable for the majority of English speakers, as they simply aim to serve the Indian market. This also implies that CoinSwitch Kuber is willing to take a massive risk by allowing Indian traders to participate in all types of decentralized cryptocurrency, such as Ethereum, Bitcoin, and Litecoin; nonetheless, this is bound to change in the future as venture capital investors have been pushing the management team to expand to other Asian markets.