Republic Day Boost: CoinDCX Announces Rs. 25 Crore Grant Program for Indian Web3 Developers

Indian cryptocurrency exchange CoinDCX has unveiled a grant program in partnership with the Solana Foundation ahead of India's 75th Republic Day. Valued at Rs. 25 crore, the grant is designed to support bootstrapped Indian Web3 developers working on projects within the Solana blockchain ecosystem. CoinDCX plans to allocate this capital to launch advanced blockchain education initiatives and hackathons for Web3 developers, with investments planned for the most promising teams arising from these events. Sumit Gupta, Co-Founder of CoinDCX, emphasised the need to nurture talent for India's sustained leadership in blockchain software development, aligning it with the nation's booming IT industry. CoinDCX aims to work closely with Solana Foundation to explore real-world use cases for public blockchains, such as loyalty programs and tokenization of assets like stocks and real estate. This move comes as CoinDCX intensifies its presence in India's Web3 market, competing with other platforms while navigating evolving government regulations in the cryptocurrency space.