CoinSwitch, India’s leading crypto investing app, today unveiled ‘Web3 for India’ — an initiative to highlight how India’s vibrant startup ecosystem can create the next big opportunity using blockchain for the nation — at T-Hub, a Hyderabad-based startup incubator.
The Crypto Unicorn, which is backed by blue-chip investors, including a16z, Sequoia Capital, and Tiger Global, aims to create awareness about real-world use cases of blockchain and crypto through this initiative.
Jayesh Ranjan, Principal Secretary of the Industries & Commerce (I&C) and Information Technology (IT) Departments of the Telangana government; Srinivas Rao Mahankali (MSR), CEO, T-Hub; and Ashish Singhal, Co-founder, and CEO, CoinSwitch, launched the first edition of ‘India’s Next Big Frontier: Web3’, a handbook featuring early-stage Indian startups solving real-world problems spanning agriculture, agri-finance, transport, and record management.
“India is home to over 12,000 blockchain developers, one of the highest in the world. Web3 companies raised forty-nine new rounds of funding in 2021, and the momentum of deals continues to be strong this year too. In line with our vision to become India’s blockchain capital, Telangana wants to play a key role in shaping India’s Web3 story. We welcome CoinSwitch’s ‘Web3 for India’ initiative and are pleased to launch this futuristic initiative in our state,” said Jayesh Ranjan, Principal Secretary — I&C and IT, Departments of the Telangana government.