CoinDCX Partners with KoinX to Automate Crypto Taxation in India
Summary
CoinDCX, India’s leading crypto exchange, has announced a strategic partnership and investment in KoinX, a platform that automates crypto taxation for Indian investors. The partnership aims to provide a seamless and secure crypto trading experience for CoinDCX’s user base and includes co-development and marketing efforts. CoinDCX Ventures has already invested $10 million in over 15 web3 startups to bolster the sector in India. The partnership between CoinDCX and KoinX will streamline integration and provide accurate tax calculations for users.
Introduction
CoinDCX, one of India’s top crypto exchanges, has partnered with KoinX, an innovative platform that automates crypto taxation for Indian investors. This partnership comes at a crucial time as CoinDCX recently received a show cause notice from FIU India, prompting investors to return to the exchange. Through its investment arm, CoinDCX Ventures, the company is committed to supporting web3 startups and facilitating a seamless trading experience for its growing user base.
Main Points
- The strategic partnership between CoinDCX and KoinX involves co-development and aligned marketing efforts to enhance visibility for KoinX.
- CoinDCX Ventures has invested $10 million in over 15 web3 startups, including Spheron, Syndr, and Liminal, to strengthen the web3 sector in India.
- KoinX offers a one-click solution within the app for calculating and filing taxes, simplifying the compliance process for users.
- The partnership benefits users by providing streamlined integration, integration with multiple exchanges and wallets, and accurate and efficient tax calculations.
Conclusion
CoinDCX’s partnership with KoinX demonstrates its commitment to supporting startups and contributing to the development of the web3 ecosystem in India. The collaboration will provide users with a seamless and secure crypto trading experience, streamlined integration, and accurate tax calculations. CoinDCX continues to be a key player in India’s web3 revolution, driving innovation and offering user-centric solutions.