DeFi Alliance has announced its India chapter, at a time of regulatory flux for the crypto industry in India. The development comes at a time when Indian developers in the blockchain and crypto space are attracting global attention after the success of Polygon and Instadapp. In an industry ruined by regulatory uncertainty, the beginning of a company in India may help early-stage founders in the decentralized finance and blockchain ecosystem with institutional liquidity, regulatory advisory, operational support, and recruiting.

“Traditional venture firms are still trying to find their feet, and western funds are figuring out the right gateways to foray in,” said John in a Medium post. “With a developer base that ships talent to almost all major technology companies, there has never been a doubt about India’s ability to churn out tech talent,” John said in the Medium post.

Now, a substantial number of those developers are looking to develop decentralized applications, thanks to educational awareness and a great hackathon culture moulded by ecosystem enablers like Devfolio’s ETHIndia.”
Despite a lack of clarity on the regulatory front, India’s strong payment infrastructure and the country’s large user base make it ripe for the DeFi industry, John went on to say. “The nation has been symbolic of everything DeFi stands for,” he added.