Did you know that India is home to over 450 blockchain startups, making it one of the fastest growing centers for blockchain innovation? As the digital landscape evolves, these pioneering companies are redefining industries and paving the way for a decentralized future.
In this article, we highlight the top 10 blockchain startups in India and shed light on their innovative solutions and contributions to the economy. By understanding their impact, you will gain insights into the transformative power of blockchain technology and its relevance in today’s business environment.
India’s technology scene is booming, and blockchain technology is at the forefront of this revolution. From revolutionizing supply chains to reshaping financial services, Indian blockchain startups are making waves globally. If you’re looking for the most promising players in this space, here are 10 Indian blockchain startups you should definitely keep an eye on in 2024:
| No. | Startup Name | Focus Area | Key Strength |
|---|---|---|---|
| 1 | Polygon (MATIC) | Layer-2 scaling for Ethereum | High transaction speed, low cost |
| 2 | CoinDCX | Cryptocurrency exchange | Wide range of cryptocurrencies, user-friendly platform |
| 3 | CoinSwitch Kuber | Cryptocurrency investment platform | Simplified crypto investing for beginners |
| 4 | WazirX | Cryptocurrency exchange | Robust trading platform, Binance acquisition |
| 5 | Celo | Mobile-first blockchain for financial inclusion | Focus on accessibility in underserved communities |
| 6 | Tata Consultancy Services (TCS) | Enterprise blockchain solutions | Expertise, reach across various industries |
| 7 | Tech Mahindra | Blockchain development services | Strong industry partnerships, diverse applications |
| 8 | Stacks (formerly Blockstack) | Decentralized internet, user-owned data | Focus on user data ownership and control |
| 9 | Signzy | AI-powered digital onboarding and KYC | Enhanced security and efficiency for KYC processes |
| 10 | Primechain Technologies | Enterprise blockchain for supply chain, finance | Improved transparency and traceability |
Now, let’s delve deeper into each of these promising startups:
The 10 Best Blockchain Startups
1. Polygon (MATIC)
Polygon’s roots may be in India, but its impact is global. It tackles Ethereum’s scalability issues head on and acts as a layer 2 solution. This means faster and cheaper transactions and makes decentralized applications (dApps) more usable and accessible. Polygon’s success has undeniably inspired and paved the way for other Indian blockchain companies.
Polygon is a leading platform for Ethereum scaling and infrastructure development. It addresses the limitations of Ethereum, such as high gas fees and slow transaction speeds, by offering a range of scaling solutions.
Its core component, the Polygon SDK, enables developers to create various types of decentralized applications (dApps), including standalone blockchains and secure layer 2 solutions. Polygon’s various offerings, such as the PoS chain and the newer zkEVM, cover a wide range of developer needs.
This versatility has led to numerous projects utilizing Polygon’s technology. Its focus on interoperability and ease of use makes Polygon a key player in expanding the Ethereum ecosystem and driving wider blockchain adoption.
Polygon’s MATIC token plays a critical role in the management and operation of the network. Its innovative approach to scaling and commitment to developer experience make it a standout in the Indian blockchain landscape.
2. CoinDCX
CoinDCX is one of India’s largest and most popular cryptocurrency exchanges, offering a user-friendly platform for buying, selling and trading a variety of cryptocurrencies. Targeting both novice and experienced traders, CoinDCX offers a range of products including CoinDCX Pro for advanced trading and CoinDCX Learn for educational resources.
They have focused on simplifying the complexities of cryptocurrency trading and making it accessible to a wider audience in India. CoinDCX has also advocated for clear regulation and actively engaged with policy makers.
Their focus on user experience, diverse product offering and commitment to regulatory compliance has positioned them as a leading player in the Indian cryptocurrency market, making them an important factor in the growth of the blockchain ecosystem in the country. They have secured significant funding, demonstrating investor confidence in their vision and execution.
3. CoinSwitch Kuber
CoinSwitch Kuber is a leading cryptocurrency exchange platform in India, simplifying crypto trading for millions. It offers a user-friendly interface for buying, selling and managing a wide range of cryptocurrencies. CoinSwitch Kuber caters to retail investors and focuses on ease of use to make cryptocurrencies accessible to beginners.
While CoinSwitch Kuber is not a pure blockchain startup in the sense of building a blockchain infrastructure, it plays an important role in expanding the Indian crypto ecosystem by providing users with an entry point into blockchain technology.
Its platform facilitates wider adoption and contributes to the growth of the overall blockchain market in India. The company has raised significant funding, demonstrating investor confidence in its business model.
CoinSwitch Kuber’s focus on usability and regulatory compliance has made the company a major player in the Indian cryptocurrency landscape. CoinSwitch Kuber is listed here for its pivotal role in driving cryptocurrency adoption and consequently supporting the growth of the broader blockchain sector in India.
4. WazirX
WazirX is one of the largest cryptocurrency exchanges in India and provides a platform for buying, selling and trading various cryptocurrencies. It offers a user-friendly interface for both beginners and experienced traders, with features such as spot trading, margin trading and peer-to-peer (P2P) trading.
WazirX aims to make cryptocurrencies accessible to a wider audience in India by supporting a wide range of digital assets. They have focused on simplifying the trading process and providing a mobile experience.
WazirX is a major player in the Indian crypto market and has helped increase awareness and adoption of digital currencies. They have struggled with regulatory challenges but continue to be a major force in the Indian blockchain ecosystem. I have chosen them for this list because they are an important part of the blockchain ecosystem – the entry ramp for users to access and interact with cryptocurrencies.
5. Celo
Although Celo has a global reach, the company maintains a strong presence and community in India. The company is committed to building a mobile blockchain platform with the aim of making financial instruments accessible to everyone, especially people in underserved communities. Their focus on financial inclusion makes them a particularly noteworthy project.
Celo is a blockchain ecosystem focused on providing access to cryptocurrencies to smartphone users around the world, including those without bank accounts. By using phone numbers as public keys, Celo simplifies crypto transactions and opens up financial opportunities for billions of people.
Celo’s platform enables the development of decentralized applications (dApps) and smart contracts, fostering innovation in decentralized finance (DeFi). The mobile-first approach combined with low transaction fees and high speeds makes the platform particularly relevant for emerging markets such as India.
Celo’s commitment to financial inclusion and its user-friendly design position the company as a key player in driving blockchain adoption in India and beyond.
6. Tata Consultancy Services (TCS)
TCS, a global IT services giant, is a major player in the Indian blockchain landscape, though not a startup in the traditional sense. The company offers a wide range of blockchain services, from consulting and development to implementation and maintenance. TCS leverages its extensive industry expertise to develop blockchain solutions for various sectors, including finance, supply chain, healthcare and government.
Focus areas include digital identity, supply chain traceability and tokenization. TCS has invested in the development of its own blockchain platform and frameworks, enabling it to offer customized solutions to its clients. The company’s extensive resources, global reach and commitment to innovation make it a key driver of blockchain adoption in India and beyond.
Although not a startup, their influence and contributions to the ecosystem are undeniable, which has earned them a place in this overview of significant players.
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7. Tech Mahindra
Tech Mahindra, a global IT giant, has its own blockchain practice, demonstrating its commitment to the potential of this technology. The company offers a range of blockchain services, including consulting, development and implementation, targeting various industries such as finance, supply chain and healthcare.
Their expertise lies in developing blockchain solutions for businesses, often based on platforms such as Hyperledger Fabric and Corda. Tech Mahindra is characterized by its scale, established client base and integration of blockchain with other technologies such as AI and IoT.
Their focus on real-world applications and enterprise adoption makes them a key player in the Indian blockchain ecosystem. Although not a startup in the traditional sense, its active engagement and investment in blockchain innovation warrants inclusion in a list of influential companies shaping the Indian blockchain landscape.
8. Stacks (formerly Blockstack)
Stacks is focused on building a decentralized internet and giving users control over their data. With a growing community in India, Stacks provides developers with the tools and resources to create decentralized applications and promote a secure and user-centric online experience.
Stacks is a blockchain platform designed to bring decentralized applications and smart contracts to Bitcoin. It aims to unlock the potential of Bitcoin beyond just a store of value and enable it to power a new internet of decentralized applications (dApps).
Stacks achieves this without altering Bitcoin itself by using a separate layer that interacts with the Bitcoin blockchain. Key offerings include the Stacks blockchain, the Clarity smart contract language (for security and predictability) and tools for developers building on top of the platform.
Stacks is aimed at developers and entrepreneurs and provides the infrastructure for creating dApps with the security and stability of Bitcoin. The company has received funding from various investors.
Stacks stands out for its unique approach to leveraging the security of Bitcoin for smart contracts and dApps, potentially adding more functionality to the world’s most popular cryptocurrency. Visit their website at to learn more. Why I have included them in my top 10 due to their innovative approach to expanding Bitcoin’s capabilities.
9. Signzy
Signzy revolutionizes digital onboarding and KYC (Know Your Customer) processes using AI and blockchain. The company offers a range of API-driven solutions that automate customer onboarding, identity verification and background checks, making these processes faster, more secure and compliant.
The product range includes digital KYC, video KYC and risk intelligence tools. Signzy is aimed at banks, financial institutions and other organizations that require robust and efficient KYC/AML (anti-money laundering) compliance.
The company has received significant funding and is recognized for its innovative approach to simplifying complex regulatory processes. Signzy’s use of blockchain increases the security and immutability of identity data and offers a significant advantage over traditional methods.
I selected the company for this list because it fills a critical need in the market with an innovative solution and demonstrates the practical applications of blockchain technology in the financial sector. Their focus on regulatory compliance and automation makes them a key player in the Indian fintech landscape
10. Primechain Technologies
Primechain Technologies is a leading Indian blockchain startup specializing in enterprise solutions. The company focuses on developing and deploying secure, scalable blockchain platforms for enterprises across industries.
The company’s key offerings include supply chain management solutions, digital identity platforms and tokenization services. Primechain is aimed at companies looking to improve security, transparency and efficiency.
The company is characterized by its ability to develop customized blockchain solutions tailored to the specific needs of each client, ensuring seamless integration with existing systems. Primechain’s expertise in providing robust, innovative solutions to various industries makes it a key player in the Indian blockchain ecosystem.
The Future is Bright
This is just a glimpse into the dynamic world of Indian blockchain startups. The ecosystem is dynamic and expanding rapidly, driven by talented entrepreneurs and increasing adoption of the technology.
As blockchain technology continues to mature, we can expect to see even more groundbreaking solutions from India in the coming years. Keep an eye on these companies and the Indian blockchain space – it’s an area with huge potential.
Disclaimer: The blockchain landscape is constantly evolving. This list represents some of the major players at the time of writing and the ranking is subjective and for informational purposes only. Conduct further research before making an investment decision.
