CoinDCX partners with Mesh to streamline crypto transactions for users

CoinDCX, a leading crypto exchange in India, has partnered up with Mesh, a US company specializing in finance solutions, aiming to streamline digital asset transfers and management for its users.

The partnership introduces a streamlined process for transferring assets between centralized exchange accounts and decentralized finance (defi) wallets directly on the CoinDCX platform.

This feature simplifies the process of digital asset deposits, enabling secure and straightforward transactions without leaving the CoinDCX environment.

“The integration with Mesh is a game-changer for CoinDCX and our users. Solutions like Mesh streamline the complexities of the crypto industry, significantly enhancing the usability factor for our platform.”

Sumit Gupta, co-founder of CoinDCX

Bam Azizi, co-founder and CEO of Mesh, expressed excitement about entering the Indian market through this partnership. He also underlined the potential of the collaboration to streamline digital asset management, considering India’s significance as a dynamic and crucial market.

Established in 2020, Mesh is at the forefront of developing an interconnected and secure financial ecosystem.

By facilitating digital asset transfers, crypto payments, account aggregation, and trading through a single platform, Mesh aims to create an embedded financial ecosystem that benefits both businesses and consumers.

In January, Payments giant Paypal’s venture arm invested $5 million of its PYUSD stablecoin into Mesh.

You might also like: Indian Finance Minister: crypto isn’t currency, G20 must regulate

Mesh serves as a way to move funds between everything from crypto exchanges to wallets to financial apps that support crypto.

The advantage of the service, Azizi said, is that it doesn’t require users to cut and paste a long string of characters—common for crypto transfers—which he describes as a poor security practice. Instead, Mesh users just use an in-app menu.

The latest collaboration of CoinDCX with Mesh could be a response to the increased demand for cryptocurrency exchanges and substantial rises in trading volumes in India.

As earlier reported by crypto.news CoinDCX saw its trading volumes multiply fivefold within the past month, escalating from $5 million at the start of February to approximately $25 million by the end of the month.

Sumit Gupta, the co-founder of CoinDCX, attributed the remarkable growth to the upward trajectory of Bitcoin prices.

Read more: DePIN-powered initiative aims to expand internet access in India

Source