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A16z, Coinbase Back CoinSwitch Kuber in $260M Funding Round

The Indian exchange is valued at $1.9 billion, making it India’s second crypto “unicorn.”

Автор Jamie Crawley
Обновлено 11 мая 2023 г., 7:08 p.m. Опубликовано 6 окт. 2021 г., 8:14 a.m. Переведено ИИ
Left to right: Vimal Sagar, co-founder and chief operating officer; Govind Soni, co-founder and chief technology officer; and Ashish Singhal, co-founder and CEO (CoinSwitch Kuber)
Left to right: Vimal Sagar, co-founder and chief operating officer; Govind Soni, co-founder and chief technology officer; and Ashish Singhal, co-founder and CEO (CoinSwitch Kuber)

India has its second cryptocurrency unicorn (a startup with a market value of at least $1 billion) after Andreessen Horowitz (a16z) and Coinbase Ventures backed CoinSwitch Kuber in a $260 million funding round that valued the exchange at $1.9 billion.

  • Also participating in the round were existing investors Paradigm, Ribbit Capital, Sequoia Capital and Tiger Global, CoinSwitch Kuber announced Wednesday.
  • The exchange has set a goal of onboarding 50 million Indians with the launch of new crypto products and services such as lending and staking.
  • CoinSwitch Kuber has demonstrated that it can “deliver an investment platform for the masses in India,” according to David George, a general partner at a16z.
  • The exchange’s unicorn status follows the $1 billion valuation attained by rival crypto exchange CoinDCX in August in a $90 million funding round that also included contribution from Coinbase.
  • CoinSwitch Kuber was valued at $500 million in a $25 million Series B funding round in April, which came three months after a $15 million Series A round.

Read more: Crypto Industry Could Add $184B of Economic Value to India by 2030: NASSCOM

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IndiaAndreessen HorowitzCoinbase Ventures

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Illicit networks accounted for $141 billion of the trillions of stablecoin volume in 2025

Автор Olivier Acuna|Відредаговано Jamie Crawley
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Cyber crime (satheeshsankaran/Pixabay, modified by CoinDesk)

Sanctions-related activity accounted for 86% of illicit crypto flows last year, with most of those flows routed through stablecoin platforms, according to TRM Labs.

Що варто знати:

  • Illicit entities received $141 billion in stablecoins in 2025, more than half of it linked to the ruble-pegged A7A5 token, whose executives dispute claims that their operations are illegal.
  • Stablecoins made up 86% of all illicit crypto flows in 2025, with sanctions-related networks such as the A7 ecosystem evolving into large, centralized cross-border financial systems.
  • A745's director for Regulatory and Overseas Affairs disputed the findings.
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