Here are some cryptocurrencies developed by Indians or closely related to India.
1. POLYGON (MATIC)
- Founders: Created by the trio Sandeep Nailwal, Jaynti Kanani, and Anurag Arjun, along with Mihailo Bjelic from Serbia.
- Objective: Designed as a layer-2 solution to enhance Ethereum scalability, reduce transaction costs, and accelerate processes.
- Growth: Market capitalization reached $13 billion in 2021, ranking among the top 20 global cryptos. In 2023, its price is around Rp15,300 per coin.
- Adoption: Used by NFT, DeFi, and gaming projects such as minting Jack Dorsey's first tweet as an NFT.
2. SALAMANCA (DON)
- Trend in India: According to CoinGecko data as of May 2025, Salamanca (DON) has become the most popular crypto in India with a price increase of 21% in 24 hours. Although not mentioned as Indian-made, its popularity in the local market is noteworthy.
3. OTHER DEVELOPING PROJECTS
- RoboPepe (ROBOPEPE) and Moo Deng (MOODENG) are also on the list of trending cryptos in India, although not explicitly mentioned as locally made.
- India Ecosystem: India has a large crypto community (100+ million crypto asset owners) with a high interest in new projects, including those developed locally like Polygon.
4. SUPPORTING FACTORS FOR GROWTH
- Regulation: Although the Indian government was initially skeptical, crypto adoption remains high due to the interest of the younger generation and the potential for quick profits.
- Local Platforms: Exchanges like WazirX, ZebPay, and CoinSwitch Kuber facilitate access to crypto investments in India.
5. POTENTIAL RISKS
- Volatility: Prices of cryptos like MATIC can be highly volatile, though considered to have long-term prospects.
- Regulation: Legal uncertainty remains a challenge, such as the temporary ban by the central bank of India in 2018.
CONCLUSION
Polygon (MATIC) is the most prominent Indian-made crypto with innovative technology and global adoption. Other projects like Salamanca are also popular in the local market, although the origins of their development are not clear. Investors are advised to study the risks and choose registered platforms like Binance.
