Indian crypto exchange CoinDCX reveals its proof of reserves with Shiba Inu as its 3rd largest holding

The cryptocurrency exchange in India, CoinDCX, published its proof of reserves on November 24, with Shiba Inu as its third-largest holding.

With a comprehensive list of wallet addresses, the public can now access CoinDCX’s on-chain and off-chain assets, according to a company publication on portfolio.nansen.ai/dashboard/APE-P42HYH.

CoinDCX holds Ethereum (ETH) as its largest holding followed by Bitcoin (BTC) as its second largest holding. Surprisingly, Shiba Inu, the second popular memecoin comes third on the list of the crypto exchange.

On top of that, the Indian crypto exchange intends to publish monthly updates on the ratio of its reserves to liabilities.

Sumit Gupta, co-founder of CoinDCX, said in the statement that the exchange has maintained a user liability to asset ratio greater than 1:1.

Following a funding round in April, investors including Pantera Capital, Steadview Capital, Kingsway, Polychain Capital, B Capital Group, Bain Capital Ventures, Cadenza, Draper Dragon, Republic, Kindred, and Coinbase Ventures supported CoinDCX, which is now valued at US$2.15 billion.