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Cryptotech Industry in India- Decentralized Systems at the Center stage of Digital Evolution

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NASSCOM conducted a research on the Cryptotech Industry in India. Through secondary research and interactions with stakeholders and industry participants, insights were gathered to identify how the CryptoTech market in India is shaping up. The report further analyzes the emerging trends in the CryptoTech industry, and its potential in the Indian context. The report looks into the economic value addition, employment generation, and other benefits as presented in this insights compendium.

Key Findings

CryptoTech Industry is a fast growing Industry globally
  • CryptoTech applications in trading accounts for 70% of market, followed by P2P payments, and remittances.
  • The market is expected to reach a size of USD 2.3 billion by 2026 globally, up from an estimated size of USD 1.6 billion in 2021
Bitcoin, DeFi, Crypto Capital and CBDCs are driving the growth of crypto market
  • Over the last one year, decentralized finance market has registered a jump of 100x, and lending on DeFi platforms has increased by over 650%. Bitcoin has emerged as the fastest asset to reach market cap of USD 1 trillion surpassing gold and US Dollar.
CryptoTech in India has started to pick up
  • The CryptoTech industry in India has registered a significant growth of 39% over the last five years. Currently, cryptotech provides employment to nearly 50,000 individuals in India. There are more than 230 CryptoTech startups in India, with 15 million+ retail investors
CryptoTech in India has started to pick up
  • The CryptoTech industry in India has registered a significant growth of 39% over the last five years. Currently, cryptotech provides employment to nearly 50,000 individuals in India. There are more than 230 CryptoTech startups in India, with 15 million+ retail investors
CryptoTech market is poised to grow 2X faster and create economic value of USD 184 billion by 2030
  • The Crypto market is likely to account for USD 15.6 billion in investments by 2030, and holds promise to solve some of the merging challenges such as health & safety, digital identity, trade finance, and remittances

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