CoinDCX collaborates with Mesh to enhance efficiency of cryptocurrency transactions for users.
CoinDCX, a prominent cryptocurrency exchange in India, has joined forces with Mesh, a finance solutions company based in the US, with the goal of simplifying digital asset transfers and management for its users. This partnership introduces a streamlined process for transferring assets between centralized exchange accounts and decentralized finance wallets directly on the CoinDCX platform. By enabling digital asset deposits within the CoinDCX environment, this feature ensures secure and hassle-free transactions. Mesh’s co-founder and CEO, Bam Azizi, expressed enthusiasm about entering the Indian market through this collaboration. He also emphasized the potential of this partnership to streamline digital asset management, given India’s significance as a dynamic and crucial market.
Mesh, established in 2020, is at the forefront of developing a secure and interconnected financial ecosystem. The company aims to create an embedded financial ecosystem that benefits both businesses and consumers by facilitating digital asset transfers, crypto payments, account aggregation, and trading through a single platform. In January, Mesh received a $5 million investment from Paypal’s venture arm in its PYUSD stablecoin.
Mesh serves as a seamless solution for moving funds between various platforms, including crypto exchanges, wallets, and financial apps that support cryptocurrencies. The advantage of this service, according to Azizi, is that it eliminates the need for users to manually enter long strings of characters, which is a common security practice in crypto transfers. Instead, Mesh users can easily navigate the process through an in-app menu.
CoinDCX’s collaboration with Mesh can be seen as a response to the growing demand for cryptocurrency exchanges and the significant increase in trading volumes in India. CoinDCX witnessed a fivefold increase in trading volumes within the past month, soaring from $5 million at the beginning of February to approximately $25 million by the end of the month. Sumit Gupta, the co-founder of CoinDCX, attributed this remarkable growth to the rising trajectory of Bitcoin prices.
