Sumit Gupta is co-founder and chief executive officer at CoinDCX, a cryptocurrency exchange platform in India. The country has witnessed growth in crypto activity since the Supreme Court reversed a ban from the Reserve Bank of India on banking services to crypto companies in March. Previously, Gupta told Forkast.News that the reversal would be a “game changer” for startups, and a recent survey by the company found that a majority of its Indian respondents believe that “crypto is a good asset class to invest in.” Earlier this month, CoinDCX announced that it raised US$13.9 million in a Series B funding round.
Prior to establishing CoinDCX, Gupta was a software engineer for Sony in Tokyo. He also co-founded ListUp, a location-based online marketplace mobile app.
“CBDCs and the so-called future of money — how government would want to convert their traditional fiat currency and would want to move that on blockchain — will get more traction. We’ve also seen India highlighting that they [might] also want to come up with a digital rupee, and will use that for circulation, which will save billions of dollars for the government.”