Indian crypto exchange, CoinDCX announced its plans to hire more staff this year to prepare for demand for decentralised finance (DeFi) products.
CoinDCX launched a mobile wallet app called Okto last week, that the company said allows access to more than 100 decentralised applications.
In a recent interview, Neeraj Khandelwal, the co-founder of the exchange said that traditional assets such as gold, stocks, and bonds will likely trade on DeFi platforms over the next two to four years and the company needs to be ready.
Recently, CoinDCX hit a $2 billion valuation with the funds it raised in April, which will now be used to launch DeFi products and services and invest in compliance and risk management, besides hiring.
Khandelwal said that the platform is looking to hire around 300 people by the end of the year and add people across various teams to build the brand, add products and strengthen security.
“In DeFi, security can never be overdone. So we will be hiring” he said.
Khandelwal also pointed out that how DeFi developments will depend on governments and regulators properly understanding how it works. He believes that ‘only then movement of real world assets onto DeFi is possible.’
He also mentions that even though crypto is taxed very highly in India, it in some ways ‘legitimises the industry.’
