As the first step towards supporting crypto startups in India, two leading players in the cryptocurrency space in India, Ajeet Khurana and Pareen Lathia, have launched “Genezis Network” – a consortium of crypto experts to fund startups. They are investing in early-stage crypto startups working on problems with use cases. The cryptocurrency industry has a market capitalization of $550 billion with NYSE’s parent company starting a cryptocurrency exchange to PayPal adopting Bitcoin to funds like Blackrock considering Bitcoin’s potential over gold. With this launch, Indian crypto startups may get some help, as India’s prominent crypto names have formed a consortium to fund them. Until now, most startup investors and VC funds have stayed away from cryptocurrency startups, as a result of which several crypto founders and startups have moved out of India.
“We want to support crypto startups and help India grow its technological strength. We’re investing in these startups at an early stage. Looking forward to working with some great projects,” said Khurana.
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