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More derivatives are traded in India than anywhere else on earth. Ten years ago, India accounted for about 15% of the equity options traded worldwide. By May 2024, Indian exchanges handled 84% of them, about 10 million people traded equity derivatives in India in 2025, and derivatives on Indian exchanges did more than $1 quadrillion in notional volume in the last year.

Nearly all of this activity points toward Indian stocks. This is a result of Indian financial exchanges and brokers only being allowed to list derivatives on Indian assets. Meanwhile, many of the companies that Indian users engage with on a daily basis are American. They own Apple phones, use ChatGPT (which leverages Nvidia GPUs), call Ubers, and over a third text using WhatsApp.

Consider a trader in India with a strong view on Nvidia's performance this quarter. Nvidia reports after the US close, which lands at around 2am her time. If she wants to act on it, her choices aren’t great. The main route is buying shares through a US-focused brokerage app under the Liberalised Remittance Scheme (LRS), which requires an international bank transfer that can take several days and a stack of paperwork, all for a product built for buying and holding rather than trading based on a shorter-term view. Apps like INDmoney and Vested have built good businesses on LRSs. For more active traders, though, there aren’t many good options.

Mochatrade solves this gap by bringing US stocks to Indian traders in a format they already know. A new user completes KYC, connects a bank account over UPI, India's instant payments network, and funds the account in rupees in minutes. From there, they can go long or short on US companies, including Nvidia, Tesla, and Apple. These trades are done through perpetual futures, which are contracts that track a stock's price with no expiry date and have been surging in popularity, with nearly $93 trillion traded on crypto exchanges in 2025. Margin and P&L are shown in rupees, and the market never closes, so users will be able to set their positions in the evening and manage them when Nvidia's numbers land at 2am. The platform has not yet launched, but the waitlist has grown to 25K.

Mochatrade operates through an entity registered with India's Financial Intelligence Unit (FIU-IND), the anti-money-laundering registration every digital asset platform in India needs. Getting approved is typically a process that takes several months, including in-person reviews with the regulator, live checks of how a platform verifies its customers, and an independent cybersecurity audit.

At CoinFund, we've long been looking for teams that can bring global markets in intuitive forms to traders who have been shut out of them. This is why we are excited to announce that CoinFund has led Mochatrade's $5.5M seed round, alongside our friends Nicky Montana and Coinbase Ventures. The round follows Mochatrade's pre-seed from Y Combinator and Pioneer Fund earlier this year.

Mochatrade was founded by Utkarsh Sinha, CEO (@ichooserain), Chetan Manda, CPO (@theblackmanda), and Parth Maheshwari, CTO (@_ParthVader_), friends since their days at Indian Institutes of Technology. Utkarsh previously started Martian from his dorm room at Columbia, where he went for a master's in computer science after IIT and a stint at McKinsey, and grew it to over $2B in transaction volume, with backing from Jump Crypto and Race Capital. Mochatrade grew out of his own frustration: as a trader in India, he could follow US markets closely but had no good way to trade them. Chetan spent five years at Sprinklr, a publicly listed US company, where he was Director of Product building products and acquiring users at scale. Parth worked on Photoshop for the web at Adobe and then at Navi, one of India's largest digital lenders.

Over the next five years, Mochatrade's goal is to become the go-to place for traders in India to access global markets. We’re proud to be partnering with Utkarsh, Chetan, Parth and the rest of the Mochatrade team. You can join the waitlist at mochatrade.com.

Disclaimer: The views expressed here are those of the individual CoinFund Management LLC ("CoinFund") personnel quoted and are not the views of CoinFund or its affiliates. Certain information contained herein has been obtained from third-party sources, which may include portfolio companies of funds managed by CoinFund. While taken from sources believed to be reliable, CoinFund has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.

This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors, and may not under any circumstances be relied upon when making a decision to invest in any fund managed by CoinFund. An offer to invest in a CoinFund fund will be made only by the private placement memorandum, subscription agreement, and other relevant documentation of any such fund and should be read in their entirety. Any investments or portfolio companies mentioned, referred to, or described are not representative of all investments in vehicles managed by CoinFund, and there can be no assurance that the investments will be profitable or that other investments made in the future will have similar characteristics or results. A list of investments made by funds managed by CoinFund (excluding investments for which the issuer has not provided permission for CoinFund to disclose publicly as well as unannounced investments in publicly traded digital assets) is available at https://www.coinfund.io/portfolio.

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