Bitget, an exchange of cryptocurrency with 100 million users, announced a partnership with Avalanche to support community initiatives across India, one of the fastest fields for Crypto and Web3 developers.
The partnership will see at least 10 million dollars distributed in mini-subventions, scholarships, hackathons and workshops to the country’s web3 community. The initial objective will be in Delhi and Bangalore. Delhi is the most populous city in India, and Bangalore is known as the local Silicon Valley.
The activity of cryptocurrencies in India has jumped in the past two years. According to Coinswitch, a local exchange, cryptographic investments across the country accelerated in 2024, with the highest concentrations in Delhi (20.1%), Bengaluru (9.6%) and Mumbai (6.5%). Young people aged 18 to 35 now represent nearly 75% of cryptographic investors in the country. While Bitcoin (BTC) and ether (ETH) have remained popular choices, Dogecoin (Doge) attracted the most investment in 2024, with other mecoins like Shiba Inu (Shib) and Pepe (PEPE) who also gain in significant traction.
In relation: India does not intend to regulate the sales and purchases of Crypto
India technological market
The growth of the cryptography ecosystem of India coincides with a wave of world exchanges, either reinstating the market, or actively exploring a yield. In February 2025, Bybit registered with local authorities and restored the services in the country. The same month, Coinbase began discussions with regulators looking for a return to the Indian market.
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India should be among the first countries to finalize a bilateral trade agreement with the United States, aimed at avoiding the taxation of President Donald Trump’s reciprocal rates. In addition, the country would seek a pact with the United States to access certain technologies and exports.
According to the venture capital company Web3, Hashed Emergent, India already represents 12% of web3 developers worldwide and has contributed 17% of all new developers entering the cryptographic space in 2024.
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