CoinDCX picks Amitabh Bachchan as brand ambassador to aid crypto awareness

Crypto exchange CoinDCX on Monday roped in Amitabh Bachchan as brand ambassador to spread awareness about cryptocurrencies.

Through this collaboration CoinDCX wants to increase awareness around crypto and popularise it as an emerging asset class, the company said in a statement.

"Being a leading exchange, CoinDCX wants to ensure that crypto is accessible to everyone. The crypto industry in India is on an exponential climb, rising gradually over the previous few years, with millions of Indians emerging as early adopters of the crypto asset class," it said.

The celebrated actor and superstar of the millennium will be the face of the new campaign, which will focus on popularising crypto as an asset class, the company said.

The crypto market in India is worth more than USD 2 trillion and set to increase with more and more Indian investors exploring new investment opportunities and adopting crypto asset class as an option that is futurist and can provide good returns, it added.

Cryptocurrency in India is not a regulated security at present, and the government is in the process of framing a law around keeping in mind investor protection.

Cryptocurrencies are digital or virtual currencies in which encryption techniques are used to regulate the generation of their units and verify the transfer of funds, operating independently of a central bank.

"With this campaign, we aim to reach out to a wider audience and educate the masses about crypto as an asset class," it said.