Neeraj Khandelwal is one of the reasons behind India’s biggest cryptocurrency exchange, which has a current value of $2.15 billion. Khandelwal obtained a degree in Electrical Engineering from IIT Bombay and used his skills to develop CoinDCX, which now provides services to over 15 million users and earned its status as India’s first crypto unicorn in 2021. The company’s efforts encourage more people to utilize blockchain, such as with the MyEtherWallet DeFi wallet and the Okto Web3 SDK. Since he owns 14.36% of CoinDCX and his stake is worth about $308 million, Khandelwal is a leader in India’s crypto space. In this piece, we look at his contribution to CoinDCX, how he has positioned the business financially, and his Web3 vision for May 2025.
Setting Up CoinDCX and Meeting Difficulties
Late in 2017, Inderpreet Khandelwal and Sumit Gupta, friends from IIT Bombay, believed blockchain could change the world of finance. In 2018, the two founders introduced CoinDCX, wanting to give India’s masses an easy way to work with cryptocurrencies, as noted in the 2021 The Hindu BusinessLine interview. Not long before they were set to start, the Reserve Bank of India (RBI) stopped banks from servicing crypto exchanges, so the brothers relied on their own savings, according to Livemint in 2021. Because the Supreme Court overturned the RBI ban in 2020, an influx of investors helped CoinDCX raise $90 million in 2021, valuing the company at $1.1 billion, with B Capital Group leading the investment, as reported by Rediff.com.
Under Khandelwal’s leadership, the platform was built to be strong and secure, ready for growth. In 2022, according to Scroll.CoinDCX had 3.5 million users, and by 2024, according to The Economic Times, the number increased to 15 million. Complying with the rules, such as registering with FIU-IND in 2020, gave consumers trust in him, as noted in the publication titled Business Today in 2025. Khandelwal stressed in his 2023 Cryptonews.com interview that strong regulation support is needed, since India’s new tax rule for crypto led many traders to use international crypto exchanges, which he hopes can be tackled by policymakers.
Linking Okto and Web3 Together
You can see how he views the industry by looking at Okto, the ecosystem CoinDCX debuted in 2023. In six months, the self-managed Okto DeFi wallet welcomed over 200,000 users and aspires to reach 500,000 by 2025, according to Outlook Business in 2023. In 2025, Okto makes it simple to use decentralized applications, including through HyperLiquid for quick and easy trading reported by The Economic Times. In May 2025, Khandelwal introduced the Okto Web3 SDK, so developers could add blockchain technology to apps like Zomato and BookMyShow, as reported by Fortune India and X posts from @coinfomania. This matches his belief that implementing blockchain into existing apps will encourage many to use them.
In the same year, Khandelwal launched CoinDCX Prime, a platform for high-net-worth people and businesses, to offer more crypto services. Managing $100 million in assets by 2025 is the goal for this firm, as they serve more than 2,500 HNI clients and 25 family offices after investing INR 50 lakh. During a 2022 conversation with KrASIA, Khandelwal emphasized teaching both the public and regulators, which allowed his exchange to handle unstable regulations like the 30% tax on crypto profits that significantly reduced trading volume, according to Outlook Business.
Net Worth and Ownership at the Company
Khandelwal’s wealth largely depends on what he has invested in CoinDCX together with Sumit Gupta. As of March 2022, Tracxn reports that collectively, the 3 founders had a 28.7% stake in their business, which was valued as INR 590 million then. According to Tracxn and Forbes, Khandelwal earned around $308 million because his 14.36% stake was now worth $2.15 billion. According to The Economic Times, he earned INR 36.07 lakh as CTO in FY21. While other traders look for quick profits, Khandelwal concentrates on the long-term benefits, as demonstrated by his support of blockchain being used in India’s digital economy.
Even though Khandelwal does not share his personal crypto portfolio, the company’s investment in wallets, cross-chain bridges, and Web3 protocols via CoinDCX Ventures suggests they hold several blockchain assets, as mentioned in The Economic Times. Outlook Business highlighted that CoinDCX remains unscathed from regulatory issues, thanks to careful compliance and openness by Sumit Gupta. Just like CoinDCX, Khandelwal’s income increased rapidly, with revenues of INR 38.91 crore in FY21, representing a staggering 524% boost from the previous year.
Influencing the development of cryptocurrencies in India
His contributions can be seen outside of CoinDCX and the crypto space. Reducing the 1% TDS, which Kumbhani discussed in his interview with Cryptonews.com, is meant to encourage Indian traders to remain in the cryptocurrency space. According to him, regulation will happen eventually, pointing out, “It’s not whether or not, but when they come,” and points out that the government is paying closer attention to blockchain, Cryptonews.com indicates. Influenced by Khandelwal’s suggestion to join forces, cryptocurrency exchanges have come together, allowing India to be named the highest in global crypto adoption for 2024, as revealed by Chainalysis to The Economic Times.
Steps taken by Neha, such as creating layer 2 solutions for fast processing of thousands of transactions, have made the platform accessible to a wide audience. According to a recent X post by @coinfomania, BitOasis’ expansion to Bahrain next year, pushed by CoinDCX and led by Khandelwal, is part of the brand’s international push. Being recognized by Fortune India’s 40 Under 40 list confirms his success in lifting up the Indian crypto scene, despite the RBI’s 2018 ban that he handled with perseverance.
Outlining What’s Ahead for Khandelwal’s Crypto Schemes
By May 2025, according to Forkast News 2021, Khandelwal keeps coming up with new ideas, with CoinDCX planning an IPO whenever regulations allow it. According to the Economic Times 2025, the Okto Chain and Token Generation Event are planned to increase the number of people who can participate in Web3. His previous statement on Bitcoin, which included hopes for a rise after 2023, was right since crypto reached new highs later in 2023 and 2024, as seen on Cryptonews and Yahoo. The success of his work will be seen if CoinDCX continues to grow in spite of new regulations and competition, striking a balance between advancements and following the rules.
FAQs
1. What duties does Neeraj Khandelwal have at CoinDCX?
He plays a role as co-founder and is responsible for the tech development of CoinDCX’s exchange, Okto wallet, and Web3 SD, K, which assist 15 million users.
2. How much wealth does Khandelwal have?
Moov, with a 14.36% share of CoinDCX’s $2.15 billion value as of 2025, has a net worth of around $308 million.
3. Explain how CoinDCX earned the title of India’s first ever crypto unicorn.
After it was established in 2018, it managed to overcome the RBI’s ban on crypto and received $90 million in capital in 2021, reflecting a valuation of $1.1 billion.
4. What is the Okto Web3 SDK used for?
In 2023, the platform empowers developers to use blockchain in apps, lowering the barrier to Web3, and now has more than 12 million worldwide users.
5. How does Khandelwal suggest the introduction of crypto in India?
He tries to clear up regulations, provides knowledge through DCXLearn, and associates with exchanges to raise awareness of Web3 in India.
