Cryptocurrency exchange Bitget and blockchain platform Avalanche have announced a strategic partnership aimed at accelerating Web3 development across India. The collaboration includes a commitment of at least $10 million in funding for mini-grants, scholarships, hackathons, and educational workshops, with initial efforts concentrated in Delhi and Bangalore.
India’s Web3 ecosystem has experienced significant growth, despite stringent crypto taxation policies. According to local exchange CoinSwitch, crypto investments surged in 2024, with the highest concentrations in Delhi (20.1%), Bengaluru (9.6%), and Mumbai (6.5%). Young adults aged 18 to 35 now represent nearly 75% of the country’s crypto investors. While Bitcoin (BTC) and Ether (ETH) remain popular, Dogecoin (DOGE) attracted the most investment in 2024, with memecoins like Shiba Inu (SHIB) and Pepe (PEPE) also gaining traction.
The partnership between Bitget and Avalanche aligns with a broader trend of global exchanges reentering or exploring the Indian market. In February 2025, Bybit registered with local authorities and resumed services in the country, while Coinbase initiated discussions with regulators to facilitate its return.
India is also pursuing a bilateral trade agreement with the United States to avoid reciprocal tariffs and gain access to specific technologies and exports. Web3 venture capital firm Hashed Emergent reports that India accounts for 12% of Web3 developers worldwide and contributed 17% of all new developers entering the crypto space in 2024.
This initiative by Bitget and Avalanche is poised to further strengthen India’s position as a burgeoning hub for blockchain innovation and Web3 development.
