menuIcon
$ 104,602.7
BTC
$ 104,602.7
0.18 %
$ 2,531.87
ETH
$ 2,531.87
-0.49 %
$ 0.8153
ADA
$ 0.8153
-0.85 %
$ 655.03
BNB
$ 655.03
-1.31 %
$ 174.58
SOL
$ 174.58
-2.54 %
Gungun Bhatia
Dec 19, 2022
by Gungun Bhatia

CoinDCX Launches Proof of Reserves With Legal Auditor's Certificate

CoinDCX Proof of Reserves

Table of contents

  1. CoinDCX Launches Proof of Reserves
  2. Launch of On-Chain and Off-Chain Reserves
CoinDCX, the first unicorn cryptocurrency exchange in India, presented a detailed Proof of Reserves (PoR) today outlining its USDT obligations and reserves. As of December 15, CoinDCX has liabilities in USDT of roughly US$155 million and total reserves in USDT of more than US$157 million.

CoinDCX Launches Proof of Reserves

Today, CoinDCX published its complete proof of reserves along with an audited report as part of its ongoing efforts to make its proof of reserves public. This improved the confidence and transparency among its users.

In collaboration with Coingabbar, a cryptocurrency research company, the report provides both sides of its reserve balance, or assets and liabilities. Additionally, in accordance with the format established by the Institute of Chartered Accountants of India, the balance has been formally recognized by the statutory auditor, SGCO &Co. LLP, Chartered Accountants.

Launch of On-Chain and Off-Chain Reserves

CoinDCX is in the midst of developing a live dashboard that will display its reserves and liabilities in real-time. CoinDCX intends to disclose its PoR on a quarterly basis.

In conjunction with Nansen, CoinDCX published its on-chain and off-chain asset balances along with its reserves-to-liability (R2L) ratio for the top 10 assets in November. In response to FTX's abrupt collapse, a number of cryptocurrency exchanges, including Binance and CoinSwitch, have made their PoR public to reassure users.

Follow us on: News
Cryptocurrency CoinDCX Proof-of-Reserves reserves-to-liability (R2L) Coingabbar
CoinDCX Launches Proof of Reserves With Legal Auditor's Certificate
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

Top Picks