Share this article
VC Tim Draper Eyes India Investments as Nation Enters Crypto 'Renaissance'
Tim Draper plans to back local startups now the Indian supreme court has overturned a ban on financial services for crypto companies.
Updated May 9, 2023, 3:07 a.m. Published Mar 23, 2020, 12:16 p.m.
Billionaire venture capitalist Tim Draper plans to invest in India now the central bank's ban on financial services for cryptocurrency companies has been overturned.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
On March 22, Draper tweeted that the recent decision by the nation's Supreme Court in favor of crypto firms represented "a renaissance for India," underscoring a change in sentiment for investors who can now begin investing in the local blockchain industry.
In an interview with Inc42 on March 21, Draper said he had "met several bitcoin and crypto startups" during a trip to India in mid March, adding that he hoped to fund a number of them.
"The Supreme Court of India and the Indian government have shown that the best ideas ultimately prevail, and just in time because the benefits of bitcoin and crypto over current systems will become apparent during this crisis," Draper said.
In April 2018, a Reserve Bank of India order barred domestic financial institutions from providing banking services to crypto exchanges severely hamstringing the domestic crypto market as it sought to impose strict regulations.
The local crypto scene struggled in legal limbo until, after two years, a March 4 court ruling overturned the ban, arguing the central bank had not been balanced in its decision to cut off crypto firms' banking services.
Soon after the ban was lifted, bank transfers once more began flowing into crypto exchanges, some of which said they anticipated high demand for cryptocurrency and related financial projects in the newly opened market.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Turkey's Paribu Buys CoinMENA in $240M Deal, Expanding Into High-Growth Crypto Markets
With the acquisition, Paribu gains regulatory foothold in Bahrain and Dubai and access to the region's fast-growing crypto user base.
What to know:
- Paribu acquires Bahrain- and Dubai-based CoinMENA for up to $240 million.
- Deal marks Turkey’s biggest fintech acquisition and first international crypto M&A, the firm said.
- The move taps into the MENA region’s fast-growing crypto user base and supportive regulatory hubs.
Top Stories
