Boost for cryptocurrency in India, CoinDCX onboards Amitabh Bachchan

Cryptocurrency in India: In what will be a massive boost for crypto companies, CoinDCX has onboarded iconic Bollywood actor Amitabh Bachchan as its first-ever ambassador.

Cryptocurrency in India: Amitabh Bachchan will educate, inform and reassure cryptocurrency investors about the safe and secure way to invest. (HT_PRINT)

Cryptocurrency exchange CoinDCX last Thursday launched a specially designed learning module on blockchain and cryptocurrency for the hearing-impaired community. Today, CoinDCX has unveiled iconic Bollywood actor Amitabh Bachchan as its first-ever brand ambassador. Even though a cryptocurrency craze of sorts is raging in the country, there is not enough knowledge about the medium and CoinDCX intends to use the services of Bachchan for educational and promotion purposes in India. The idea is to provide a glimpse into the working of the cryptocurrency world to prospective crypto investors and thereby reassure them about risk as well as ensure its popularisation. Amitabh Bachchan himself is into alternate forms of crypto having rolled out his NFT (non-fungible token), which represents real-life things like photos, digital artwork, etc.

With most people shunning cryptocurrency investment due to its inherent risk as well as many central banks, including India's Reserve Bank of India warning about it repeatedly, Amitabh Bachchan will find it tough going. Bachchan is expected to explain exactly how investors can stay safe and reassure them about the credentials of CoinDCX too.

Sumit Gupta, co-founder and CEO, CoinDCX said, “We are honoured to have Bachchan as our brand ambassador. Being a crypto investor himself and having launched his own NFT (non-fungible token) recently, Bachchan is well-versed with the crypto space. His knowledge will prove valuable in building trust and credibility amongst new users. We are certain that his association with CoinDCX will help bring greater visibility to the world of crypto and develop a strong brand recall for us."

CoinDCX itself has taken a few steps to reassure clients and prospective customers when it joined the Advertising Standards Council of India (ASCI) in August, which is a voluntary self-regulatory organization of the advertising industry.

CoinDCX has also received a thumbs up from some pre-eminent people including Facebook co-founder Eduardo Saverin's B Capital Group, along with other investors who participated in the company's Series C funding round that raised as much as $90 mn. CoinDCX has thereby also become India's first cryptocurrency unicorn.

Apart from securing the services of Amitabh Bachchan, CoinDCX has been actively exploring other ways to keep the world outside engaged. On the occasion of International Sign Language Day, it had launched a specially designed learning module on blockchain and cryptocurrency for the hearing-impaired community. The module, which is in sign language and free for all, is available at the company's education learning portal - DCX Learn.