CoinTracker launches cryptocurrency platform in India

The platform CoinTracker is a platform for tax compliance and portfolio tracking in the Indian market.

The move comes against the government mandating a 30 per cent tax on transactions with effect from April 1.

The products will be available to all users of India starting today, while the country is announcing the launch of its product.

Users in India can deal in cryptocurrencies without having to worry about the challenges associated with reconciliation, accounting and compliance, according to CoinTracker.

It can be difficult to navigate the complexity of buying, holding and transacting withcryptocurrencies and nearly impossible to comply with taxes without the right tool. We built CoinTracker to solve this problem and we are excited to deliver our offering in India.

In the coming months, we plan to expand our partnerships with all the popular exchanges and tax products in India and to enable mainstream adoption ofcryptocurrencies in India, Jon Lerner, CEO of CoinTracker, said.

The company has received $100 million Series A funding and is using it to build products and expand into regions like India.

Lerner said the company will expand its employee base in India. With 65 employees globally, Lerner said that CoinTracker will recruit over 200 people in a year's time, of which 10 per cent will be from India.

The ecosystem has grown from zero to $2 trillion in the first decade and is on a trajectory to surpass $10 trillion in the next decade, according to CoinTracker.