India’s ICICI, Axis and HDFC Bank Take Stakes in Blockchain Startup IBBIC: Report
All three have holdings in excess of 5% in the company, which develops distributed ledger technology products for Indian financial services.
The uptick in new user registrations is a 45% increase to 70 million when compared to the year prior, according to BSE stock exchange data.
Funding will be used to double the exchange's staff to 400 employees.
The move marks a significant step for the use case of blockchain technology within India's financial ecosystem.
The Enforcement Directorate is investigating Chinese-operated betting apps that have collected more than $134 million over the last 10 months.
The funding round would accord the Indian company unicorn status, with a valuation of more than $1 billion.