sumit gupta

CoinDCX offers to let Indians earn yield on crypto holdings

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The operator of the Indian cryptocurrency exchange is working with large institutional borrowers, third-party lending partners and staking platforms to generate yield on cryptocurrency and digital assets, CoinDCX said in a statement.

See related article: CoinDCX investment arm to invest US$13 mln in Web3 startups

Fast facts

  • The yield program doesn’t come with lock-in periods or restrictions on withdrawals, CoinDCX said.
  • The program will provide a “trusted and accessible way for individuals to earn yield on their crypto holdings while continuing to keep exposure to the nascent asset class,” CoinDCX’s chief executive officer and cofounder Sumit Gupta said in a release.
  • The company’s latest offering comes after CoinDCX launched an investment plan that allows investors to buy crypto at regular intervals.
  • CoinDCX didn’t immediately clarify about protections to crypto investors from margin calls.
  • The Indian government is likely to tax the yields earned through such programs, in line with its stance on interest income earned on all assets.  

See related article: CoinDCX double downs as the going gets tough in India



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