Orbs Pushes Deeper Into India’s Crypto Market, Listing Its Native $ORBS Token On CoinDCX

The layer-3 blockchain infrastructure network Orbs has announced a significant coup, with its native $ORBS token being officially listed on India's biggest cryptocurrency exchange, CoinDCX. The listing opens access to $ORBS for millions of Indian crypto users, enabling them to explore the wide range of decentralized applications that leverage the Orbs network.

Orbs is emerging as a key player in the decentralized finance space thanks to the popularity of its dLIMIT and dTWAP protocols, which bring enhanced trading functionality to decentralized exchange platforms on EVM-based blockchains. With dLIMIT and dTWAP, DEXs can offer their users the ability to conduct more sophisticated trades, such as limit orders.

India Is A Promising Market

Listing on India's biggest crypto exchange is a big deal for Orbs, as the country is home to millions of digital asset fans and boasts a strong domestic technology industry. Data shows that around 97.5 million Indians, or 7.1% of its population, currently hold cryptocurrency, making it one of the most enthusiastic markets for crypto. '

CoinDCX was founded in 2018 and has grown to become one of the top exchange platforms in India, with support for more than 500 different tokens. By listing on CoinDCX, the $ORBS token will gain visibility in one of the world's most promising markets for blockchain-based innovation.

The dominant position of CoinDCX in India has been enhanced by the Indian government's recent move to block numerous top international exchange platforms. Last month, India's Financial Intelligence Unit said it had issued compliance notices to nine offshore crypto exchanges, ordering them to comply with its Prevention of Money Laundering Act. In addition, FIU also said it has taken steps to block the URLs of the exchanges in question – Binance, KuCoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global and Bitfinex – for "operating illegally without complying with the provisions of the PMLA".

With so many global exchanges now blocked, Indian crypto holders have flocked to CoinDCX. Earlier this month, the platform announced an incredible 2,000% surge in crypto deposits as users shifted their funds from those non-compliant exchanges.

Besides making life difficult for the affected exchanges, India's move means that crypto projects looking to tap Indian audiences are now obliged to list their native tokens on one of the few accredited exchange platforms in that country. That makes CoinDCX an obvious choice for Orbs, and it wasted little time in doing so. By successfully listing $ORBS on CoinDCX, Orbs makes it much easier for Indians to participate in its growing economy.

CoinDCX is also notable as one of the few platforms to pair digital assets with the Indian rupee, which means its users can buy and sell their favorite tokens using their local currency.

Orbs' Growing Ecosystem

Orbs has identified India as a key market to support its growth ambitions. Last month, Orbs vice president of business development Ran Hammer spoke at the annual India Blockchain Week event in Bangalore, where he talked about the project's innovations in staking and underscored its commitment to India's crypto market.

The ambitions of Orbs extend well beyond India, though, as the $ORBS token has also recently secured listings on other top-tier exchanges, such as Binance, Bybit and OKX. The $ORBS token is an essential element of the Orbs network, used to validate transactions and secure its underlying Proof-of-Stake blockchain.

Orbs has been focused on enhancing the staking experience for $ORBS users in order to encourage greater participation. For instance, it recently partnered with StakingRewards to create a dedicated portal for $ORBS staking. StakingRewards simplifies the staking experience, while providing access to key metrics such as the expected ROI, and the total volume of $ORBS tokens being staked.

In a second key partnership announced last month, Orbs said it's investing $600,000 into THENA, the next-generation liquidity layer on the BNB Chain. THENA has already integrated Orbs' dLIMIT and dTWAP protocols, providing its users with the ability to perform limit order-based trades and implement algorithmic trading strategies.

Orbs believes demand for $ORBS will explode as more protocols take advantage of its L3 network capabilities.