CoinDCX partners with Koinex to support 1 lakh customer migration

Good news for Koinex users: CoinDCX, a virtual digital asset (VDA) exchange, has recently announced a collaboration with Koinex, a crypto exchange which ceased operations in 2019 due to various business and regulatory challenges and had left many users with assets on their platform. Under this agreement, CoinDCX offers more than 1 lakh Koinex users to transition to CoinDCX's platform.

In 2019, Koinex faced denials in payment services from payment gateways, bank account closures and blocking of transactions for trading of digital assets.

On this agreement, Sumit Gupta, Co-founder, CoinDCX, said, "This partnership aligns with CoinDCX's vision of fostering a secure and transparent VDA ecosystem in India. Our commitment extends beyond this partnership, as we continue to support the Web3 community and strive towards empowering our users."

Aditya Naik, Founder of Koinex, said, "For those users unable to withdraw their assets during the shutdown process, this partnership provides an opportunity to associate with a reputable and compliant exchange like CoinDCX."

According to the official statement, the integration process has been communicated to Koinex users, with CoinDCX ensuring personalised assistance through a dedicated customer desk. 

This partnership is crucial for Koinex users as it will enable them to continue their trading operations as well as give them the option to liquidate their assets.