India's crypto exchange CoinDCX partners with Mesh to advance digital asset transfers in India

Indian crypto exchange CoinDCX has joined forces with Mesh, a US-based embedded finance solution firm.

The integration will transform how digital assets are transferred and managed on the CoinDCX platform. Users will be able to transfer assets with a single click without ever leaving the platform, the release notes. 

Making the digital asset management process seamless

"The Indian market holds a very significant position within the crypto industry, and we are excited to be able to enter that market alongside a leader like CoinDCX," said Bam Azizi, Co-Founder and CEO of Mesh. 

"This partnership represents a massive opportunity to make the digital asset management process as seamless and efficient as possible, and we are excited for how this new partnership will impact one of the  most dynamic and important markets."

What did CoinDCX say about the partnership?

"The integration with Mesh will be a game-changer for CoinDCX and our users," said Sumit Gupta, Co-Founder & CEO of CoinDCX. "Solutions like Mesh are very essential to counter the fragmentation and complexities of the crypto industry, and this partnership definitely helps us multiply the usability factor for our platform."

CoinDCX parent Neblio Technologies achieved a significant financial turnaround in FY23. From a net loss of Rs 41 crore in the previous fiscal year, the company reported a net profit of Rs 28 crore.

Despite a decrease in total revenue from Rs 588 crore in FY22 to Rs 456 crore in FY23, Neblio Technologies reduced its total expenses. According to media report, The expenses dropped from Rs 630 crore in FY22 to Rs 429 crore in FY23. The reduction in expenses played a crucial role in the company's journey to profitability.

What does Mesho do?

Founded in 2020, Mesh aims to build an open, connected, and secure financial ecosystem. As a modern financial operating system, Mesh enables digital asset transfers, crypto payments, account aggregation, and trading within a unified platform.

With over 300 integrations, Mesh is pioneering the creation of an embedded financial ecosystem that benefits both businesses and users.