CoinDCX has announced a new crypto literacy project in Mumbai, that will attempt to kickstart discussions on crypto and digital assets at a popular meeting place in the city — tea stalls. Dubbed ‘Bitcoin Chai Cafe’, the Indian crypto exchange’s latest initiative is designed to promote crypto-related conversations at tea stalls, which are frequented by office goers, students, and others from varied age groups. The firm is looking to expand crypto awareness beyond the usual Web3 circles to mainstream financial communities and students.
The crypto firm says it will introduce ‘chai cafés’ on wheels into financial hotspots and tech parks across the city, as part of the campaign. In addition, local tea stalls have also been provided with crypto-branded cups that feature Bitcoin-related references, which the exchange expects will spark discussions amongst people at the tea stalls.
“Just as equity investors have traditionally connected over chai to discuss market trends, we envision a similar culture emerging around the emerging asset class crypto. This inspired us to develop an initiative that would resonate with the Indian public and organically foster conversations around crypto,” Chief Growth and Marketing Officer Prashant Verma said in a prepared statement.
In recent years, the crypto sector in India has shown signs of expansion despite the lack of a regulatory framework to govern the sector. In November 2024, the Bharat Web3 Association claimed in a report that India’s Web3 ecosystem, comprises over 400 firms. The states of Karnataka, Maharashtra, Telangana, Haryana, and Uttar Pradesh, the report said, were becoming hotspots for crypto-related businesses. Last year, the country also topped Chainalysis’ index of countries that are leading in crypto adoption for the second consecutive year.
Crypto assets are volatile in nature, and engaging with these digital assets mindlessly can lead to heavy losses. During the India Blockchain Week that was held in Bengaluru in December 2024, stakeholders of the Web3 industry repeatedly asked the community members to create crypto awareness and open dialogue amongst investors and enthusiasts.
Last year, crypto firms like CoinDCX and Mudrex released similar campaigns to create awareness amongst the investor community on safe ways to engage with these volatile crypto assets.