India

So far this year, the Indian blockchain industry has closed 16 deals to raise a total of more than $627 million, 14.25 times more than last year. This compares to 10 local deals last year for a total of just $44 million.

Industry experts analyzed to Blockchain Daily that the easing of policies has boosted India's crypto economy, with the landmark event being the Supreme Court of India's ruling that the Reserve Bank of India's (or RBI) ban on the country's banks providing services to cryptocurrency companies was indeed unconstitutional. In addition, the bitcoin bull market has further attracted more Indian people to participate.

India's crypto trading market is hot

CoinSwitch Kuber raised $260 million at a valuation of $1.9 billion, according to Bloomberg on Oct. 6. Investors including Sequoia Capital, Tiger Global Management and Ribbit Capital also participated.