India Cryptocurrency Market By Type (Hardware & Software), By Process (Mining & Transaction), By Offering (Bitcoin, Etgereum, Bitcoin Cash, Ripple, Dashcoin, Litecoin, Others), By End User (Banking, Real Estate, Stock Market & Virtual Currency), By Region

India Cryptocurrency Market By Type (Hardware & Software), By Process (Mining & Transaction), By Offering (Bitcoin, Etgereum, Bitcoin Cash, Ripple, Dashcoin, Litecoin, Others), By End User (Banking, Real Estate, Stock Market & Virtual Currency), By Region, By Competition Forecast & Opportunities, 2019-2029


India Cryptocurrency Market was valued at USD 221.5 million in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 6.75% through 2029. The India cryptocurrency market has witnessed significant growth and evolving dynamics in recent years. Cryptocurrencies, digital or virtual assets designed to work as a medium of exchange, have gained prominence among investors, traders, and the general public in India. The India cryptocurrency market has experienced remarkable growth in terms of adoption and trading volumes. Several factors have contributed to this growth, including increasing awareness, a tech-savvy population, and the potential for high returns on investments. The regulatory landscape for cryptocurrencies in India has been a subject of debate and change. In early 2020, there was uncertainty surrounding the legal status of cryptocurrencies, as there were concerns about their potential use for illicit activities. However, in March 2020, the Supreme Court of India lifted the banking ban imposed by the Reserve Bank of India (RBI) on cryptocurrency transactions, providing a significant boost to the market.

Despite this, the regulatory environment remained fluid, with discussions on potential cryptocurrency regulations ongoing. The Indian government was reportedly considering a bill to regulate cryptocurrencies, but the specifics of the regulations were not clear as of my last knowledge update.

India has seen the emergence of numerous cryptocurrency exchanges and trading platforms. Some of the prominent platforms include WazirX, CoinSwitch, ZebPay, and Unocoin. These platforms allow users to buy, sell, and trade a variety of cryptocurrencies, catering to both beginners and experienced traders.

Cryptocurrencies have garnered substantial interest from Indian investors and traders. Many individuals and institutional investors have started diversifying their portfolios by including cryptocurrencies as an asset class. Bitcoin and Ethereum have been particularly popular choices among Indian investors.

The India cryptocurrency market is poised for further growth and maturation. The regulatory landscape will likely play a crucial role in shaping the market's future. Clarity in regulations and investor protection measures could attract more participants and capital into the market. As cryptocurrencies become more integrated into the global financial ecosystem, India will likely continue to be a significant player in the space, with the potential for increased adoption and innovation in the years ahead.

Key Market Drivers

Growing Interest and Adoption

India has witnessed a surge in interest and adoption of cryptocurrencies in recent years. Several factors contribute to this growing enthusiasm:

Youthful Demographics: India boasts a youthful population, with a significant percentage of its citizens falling into the age group most open to embracing new technology. Young individuals are often more tech-savvy and have been at the forefront of cryptocurrency adoption.

Digital Transformation: The rapid digitization of various sectors in India, such as e-commerce, fintech, and digital payments, has created a conducive environment for cryptocurrency adoption. People are becoming more comfortable with digital transactions and assets.

Investment and Trading: Cryptocurrencies have become a preferred investment asset class for many individuals and retail investors. The prospect of high returns has attracted traders and investors looking to diversify their portfolios.

Accessibility: The ease of access to cryptocurrencies through online platforms and exchanges has made it convenient for people to buy, trade, and hold digital assets. User-friendly mobile apps and web platforms have simplified the process.

Global Awareness: Awareness about cryptocurrencies has increased due to global media coverage and the cryptocurrency market's exponential growth. People are exposed to success stories and news about the potential of digital currencies.

Regulatory Developments and Clarity

Regulatory developments have been a significant driver in the Indian cryptocurrency market. The government and regulatory authorities have been actively engaged in shaping the legal framework around cryptocurrencies, leading to several key developments:

Supreme Court Ruling: In March 2020, the Supreme Court of India delivered a landmark judgment, lifting the banking ban imposed by the Reserve Bank of India (RBI) on cryptocurrency transactions. This decision provided much-needed legal clarity and renewed confidence in the market.

Draft Cryptocurrency Bill: The Indian government has been working on a comprehensive cryptocurrency bill that aims to provide a regulatory framework for cryptocurrencies. While the exact provisions of the bill have yet to be finalized, its mere existence indicates a willingness to regulate, rather than ban, cryptocurrencies.

Regulatory Engagement: Regulatory authorities such as the Securities and Exchange Board of India (SEBI) have engaged in discussions and consultations with industry stakeholders to better understand the cryptocurrency market and its implications.

Consumer Protection: Regulatory efforts have also focused on consumer protection, aiming to prevent fraud, scams, and illicit activities in the cryptocurrency space.

Institutional Interest and Investment

Institutional interest and investment have played a significant role in the growth and development of the Indian cryptocurrency market. Several factors contribute to this trend:

Recognized Asset Class: Cryptocurrencies are increasingly recognized as a legitimate asset class by institutional investors, including venture capital firms, hedge funds, and family offices. These entities see the potential for diversification and high returns.

Blockchain and Technology Innovation: Beyond cryptocurrencies, institutions are interested in blockchain technology and its potential applications in various sectors, such as supply chain management, healthcare, and finance.

Cryptocurrency Exchanges: Indian cryptocurrency exchanges have attracted institutional investment, expanding their services to cater to the needs of institutional clients.

Regulatory Clarity: Regulatory clarity and the lifting of the banking ban have provided institutions with confidence that the government is taking a balanced approach toward cryptocurrency regulation.

Key Market Challenges

Regulatory Ambiguity and Uncertainty

One of the primary challenges facing the Indian cryptocurrency market is the regulatory ambiguity and uncertainty surrounding the status of cryptocurrencies. The government and regulatory authorities have oscillated between cautious acceptance and outright hostility towards digital currencies, which has left market participants in a state of uncertainty.

Lack of Clear Regulations: As of my last knowledge update in January 2022, India had not enacted comprehensive regulations specifically addressing cryptocurrencies. The absence of clear legal frameworks and definitions for digital assets has resulted in a legal gray area, leaving individuals and businesses unsure about the legal status of cryptocurrencies.

Shifting Regulatory Stances: Over the years, India has witnessed multiple instances of regulatory back-and-forth. There have been both positive and negative statements and actions by government bodies. While some officials have acknowledged the potential benefits of blockchain technology, others have expressed concerns about the use of cryptocurrencies for illegal activities.

Cryptocurrency Bans: India has, at times, proposed bills and regulations that sought to ban or severely restrict cryptocurrency usage. These proposals have created uncertainty for investors and the cryptocurrency industry, resulting in businesses and exchanges suspending operations or relocating to more crypto-friendly jurisdictions.

Impact on Innovation and Investment: Regulatory uncertainty has hindered innovation and investment in the Indian cryptocurrency market. Startups and blockchain-based projects often face difficulties in obtaining funding and operating within an uncertain legal environment.

Banking Restrictions and Access to Services

The cryptocurrency market in India has also faced challenges related to banking restrictions and limited access to financial services. Several banks and financial institutions have been hesitant to provide services to cryptocurrency-related businesses and individuals.

Banking Bans: In 2018, the Reserve Bank of India (RBI) issued a circular that effectively banned banks from providing services to cryptocurrency exchanges and traders. This led to the closure or relocation of several cryptocurrency businesses.

Bank Account Closures: Many individuals and businesses that were involved in cryptocurrency trading reported having their bank accounts closed or transactions blocked, which severely disrupted their financial operations.

Limited Access to Banking Services: Even after the Supreme Court of India lifted the banking ban in 2020, some banks continued to be reluctant to provide services to cryptocurrency-related entities. This has created challenges in terms of liquidity and the ability to conduct business operations.

Security and Investor Protection

Another significant challenge in the Indian cryptocurrency market is the need for enhanced security measures and investor protection. The nascent nature of the market, coupled with the absence of comprehensive regulations, has left investors vulnerable to risks.

Security Vulnerabilities: Cryptocurrency markets in India, like elsewhere, have experienced security breaches, hacks, and scams. These incidents have underscored the importance of robust security measures, both on the part of exchanges and individual investors.

Lack of Consumer Awareness: Many retail investors in India are still relatively unfamiliar with the risks associated with cryptocurrency investments. Some have fallen victim to fraudulent schemes and scams, highlighting the need for greater investor education and awareness.

Need for Regulatory Safeguards: While regulations can provide a framework for investor protection, the absence of clear regulations has made it challenging to implement safeguards such as Know Your Customer (KYC) procedures, anti-money laundering (AML) measures, and mechanisms for addressing fraud and disputes.

Market Volatility: Cryptocurrency markets are known for their volatility, which can lead to significant financial losses for investors. This volatility, combined with the lack of investor protection mechanisms, poses challenges for both new and experienced investors.

Key Market Trends

Regulatory Evolution

One of the most prominent trends in the India cryptocurrency market is the continuous evolution of cryptocurrency regulations. Over the years, the Indian government has oscillated between cautious skepticism and openness to exploring the potential of blockchain and cryptocurrencies. The regulatory landscape has seen significant developments, and the following points highlight this trend:

Regulatory Clarity: After a period of uncertainty, India has made efforts to provide clearer regulations for the cryptocurrency industry. The government has been working on a comprehensive legal framework for cryptocurrencies, aiming to balance innovation with investor protection.

Proposed Bills: The Indian government introduced the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, which seeks to regulate cryptocurrencies in India while potentially prohibiting their use as a means of payment. The bill has sparked debates and discussions within the crypto community and among regulators.

Ban Lifted: In March 2020, the Supreme Court of India lifted the banking ban imposed by the Reserve Bank of India (RBI) on cryptocurrency transactions. This landmark decision opened up opportunities for the crypto industry in India and boosted investor confidence.

Government Pilot Projects: In a positive development, the Indian government has also initiated blockchain-based pilot projects, exploring the potential of blockchain technology in sectors such as supply chain management and public records.

Growth of Crypto Exchanges and Investments

The second trend in the India cryptocurrency market is the significant growth of cryptocurrency exchanges and investments. Despite regulatory uncertainties, Indian investors and crypto enthusiasts have shown a strong interest in cryptocurrencies. This trend is characterized by the following factors:

Proliferation of Crypto Exchanges: India has witnessed the establishment of numerous cryptocurrency exchanges, platforms, and startups. These platforms offer a wide range of cryptocurrencies for trading and investment.

Increased Investment Interest: Cryptocurrency investments, especially in Bitcoin and other leading digital assets, have gained traction among Indian retail investors and institutional players. Investors view cryptocurrencies as an alternative asset class and a potential hedge against economic uncertainties.

DeFi and NFT Adoption: Decentralized finance (DeFi) platforms and non-fungible tokens (NFTs) have captured the interest of Indian users, offering unique opportunities for financial services and digital collectibles.

Growing Crypto User Base: The number of cryptocurrency users and traders in India has been steadily increasing, driven by the ease of access and the potential for substantial returns.

Blockchain Innovation and Technology Adoption

The third trend is the growing interest and innovation in blockchain technology beyond cryptocurrencies. Blockchain has found applications in various sectors in India, reflecting the broader impact of decentralized ledger technology:

Enterprise Adoption: Many Indian enterprises have begun exploring blockchain technology for supply chain management, identity verification, and transparent record-keeping. Blockchain's tamper-resistant nature appeals to industries seeking to enhance security and transparency.

Government Use Cases: Government agencies and departments have initiated blockchain pilot projects to improve processes such as land registry, educational certificates, and public records. These efforts aim to reduce fraud and streamline services.

Education and Awareness: Educational institutions and training programs in India have introduced blockchain and cryptocurrency courses to equip students and professionals with the skills and knowledge needed to engage in these emerging fields.

Blockchain Startups: India is witnessing the emergence of blockchain startups and innovation hubs that focus on blockchain-based solutions and decentralized applications (dApps) in areas like finance, healthcare, and supply chain management.

Cross-Border Payments: Blockchain technology is being explored for cross-border payments and remittances, offering a more efficient and cost-effective solution compared to traditional banking channels.

Segmental Insights

Offering Insights

Software solutions indeed play a substantial and pivotal role in the India cryptocurrency market. The cryptocurrency market in India has witnessed significant growth, and software has been a driving force behind this expansion. The software segment encompasses a wide range of applications and tools that facilitate the buying, selling, trading, management, and security of cryptocurrencies.

Software powers cryptocurrency exchanges, which serve as the primary platforms for buying and selling digital assets. These platforms provide trading interfaces, order matching engines, and security features that allow users to trade a variety of cryptocurrencies. Trading software and platforms provide users with real-time market data, charts, technical analysis tools, and trading strategies to help them make informed decisions while trading cryptocurrencies.

Cryptocurrency wallets, both hardware and software-based, are essential for storing, sending, and receiving digital assets securely. Software wallets are accessible through web and mobile applications, offering convenient access to users' cryptocurrency holdings. Payment gateway software allows businesses to accept cryptocurrency payments for goods and services. This opens new avenues for e-commerce and retail businesses in India to tap into the growing cryptocurrency user base.

Advanced software tools offer liquidity aggregation, market analysis, and arbitrage opportunities to traders and investors in the cryptocurrency market.

In response to evolving regulations, software providers offer compliance and reporting tools to help cryptocurrency businesses and exchanges adhere to legal requirements and maintain transparency.

In conclusion, software solutions are a fundamental pillar of the India cryptocurrency market, providing the necessary infrastructure, tools, and security measures for individuals and businesses to participate in the digital asset ecosystem. As the cryptocurrency market in India continues to evolve and adapt to regulatory changes, the software segment will remain a critical driver of innovation and growth in the industry. To gain the most up-to-date information on the India cryptocurrency market and its software segment, it's advisable to refer to recent developments, regulatory updates, and industry reports specific to the Indian market.

End User Insights

Banking has a unique and significant presence in the India cryptocurrency market. The relationship between traditional banking and the cryptocurrency sector is multifaceted and continually evolving. Here, we'll delve into the ways in which banking institutions play a pivotal role in the Indian cryptocurrency market.

Cryptocurrency exchanges in India often require banking services to facilitate the deposit and withdrawal of funds by their users. Banking institutions act as intermediaries for these transactions, enabling users to convert Indian Rupees (INR) into cryptocurrencies and vice versa.

Users who wish to invest in cryptocurrencies usually start by converting INR into digital assets. This conversion typically occurs through bank transfers, where users send funds to the exchange's bank account to purchase cryptocurrencies.

Cryptocurrency exchanges seek partnerships with banking institutions to establish reliable and compliant channels for fund transfers. These partnerships are crucial for ensuring that users can seamlessly deposit and withdraw their funds.

Banking institutions are subject to regulatory guidelines from the Reserve Bank of India (RBI) and other regulatory authorities. This requires them to play a key role in ensuring that cryptocurrency transactions adhere to existing Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.

In conclusion, banking institutions have a significant share in the India cryptocurrency market, serving as intermediaries and enablers for users to access and transact in cryptocurrencies. The evolving regulatory landscape and the role of banks in ensuring compliance are pivotal aspects of this relationship. As the Indian cryptocurrency market continues to grow and mature, the role of banking institutions in this sector is likely to become even more prominent, with opportunities for further innovation and expansion in the financial services industry.

Regional Insights
  • The Indian cryptocurrency market has witnessed significant growth, and various regions across the country have played a role in shaping this emerging sector. While India is a vast and diverse country with cryptocurrency activity spread across different regions, it's essential to understand the factors contributing to the prominence of the South region in the India cryptocurrency market.
  • The southern region of India, particularly cities like Bengaluru (Bangalore), Hyderabad, and Chennai, is known for its tech-savvy and educated population. These cities have a high concentration of IT professionals and software developers, which has contributed to the adoption and development of blockchain and cryptocurrency technologies.
  • South India is home to a vibrant start-up ecosystem, with a focus on technology and innovation. Many cryptocurrency and blockchain start-ups have emerged from this region, leveraging the expertise and resources available to them.
  • The South region hosts blockchain development hubs and technology parks that have incubated cryptocurrency and blockchain projects. These hubs provide a conducive environment for innovation and collaboration.
  • Prestigious educational institutions in the South region, such as the Indian Institutes of Technology (IITs) and the Indian Institutes of Management (IIMs), have played a pivotal role in fostering talent and research in blockchain and cryptocurrencies.
  • South India has active cryptocurrency and blockchain enthusiast communities that organize events, seminars, and meetups to promote awareness and education about digital currencies.
  • Several cryptocurrency exchanges and platforms have their presence in South India, providing services for buying, selling, and trading digital assets. These platforms have contributed to the growth of the crypto market in the region.
  • While cryptocurrency regulations in India were evolving, the South region showed a progressive stance in understanding and adapting to the potential of blockchain and cryptocurrencies, which may have contributed to their prominence.
  • Some enterprises in the South region have explored blockchain technology for various use cases, including supply chain management, identity verification, and more. This has indirectly created an environment conducive to cryptocurrency adoption.
Key Market Players
  • Intel Corporation India Private Limited
  • NVIDIA Corporation
  • Microsoft Corporation India Pvt Ltd
  • Xilinx India Private Limited
  • Advanced Microdevices Pvt. Ltd.
  • Amazon India Pvt Ltd.
  • Unocoin
  • BitGo
  • Coinbase
  • Ripple Labs Private Limited
Report Scope:

In this report, the India cryptocurrency market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
  • India Cryptocurrency Market, By Type:
  • Hardware
  • Software
  • India Cryptocurrency Market, By Process:
  • Mining
  • Transaction
  • India Cryptocurrency Market, By Offering:
  • Bitcoin
  • Etgereum
  • Bitcoin Cash
  • Ripple
  • Dashcoin
  • Litecoin
  • Others
  • India Cryptocurrency Market, By End User:
  • Banking
  • Real Estate
  • Stock Market
  • Virtual Currency
  • India Cryptocurrency Market, By Region:
  • North
  • South
  • East
  • West
Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the India cryptocurrency market.

Available Customizations:

India Cryptocurrency market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information
  • Detailed analysis and profiling of additional market players (up to five).
Please Note: Report will be updated with the latest data and delivered to you within 3-5 working days of order. Single User license will be delivered in PDF format without printing rights


1. Introduction
1.1. Product Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
4. Voice of Customer
4.1. Factors Influencing Purchase Decision
4.2. Challenges Faced Post Purchase
4.3. Brand Awareness
5. India Cryptocurrency Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Type Market Share Analysis (Hardware & Software)
5.2.2. By Process Market Share Analysis (Mining & Transaction)
5.2.3. By Offering Market Share Analysis (Bitcoin, Etgereum, Bitcoin Cash, Ripple, Dashcoin, Litecoin, Others)
5.2.4. By End User Market Share Analysis (Banking, Real Estate, Stock Market & Virtual Currency)
5.2.5. By Regional Market Share Analysis
5.2.5.1. North Market Share Analysis
5.2.5.2. South Market Share Analysis
5.2.5.3. East Market Share Analysis
5.2.5.4. West Market Share Analysis
5.2.6. By Top 5 Companies Market Share Analysis, Others (2023)
5.3. India Cryptocurrency Market Mapping & Opportunity Assessment
5.3.1. By Type Market Mapping & Opportunity Assessment
5.3.2. By Process Market Mapping & Opportunity Assessment
5.3.3. By Offering Market Mapping & Opportunity Assessment
5.3.4. By End User Market Mapping & Opportunity Assessment
5.3.5. By Regional Market Mapping & Opportunity Assessment
6. India Hardware Cryptocurrency Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Process Market Share Analysis
6.2.2. By Offering Market Share Analysis
6.2.3. By End User Market Share Analysis
6.2.4. By Region Market Share Analysis
7. India Software Cryptocurrency Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Process Market Share Analysis
7.2.2. By Offering Market Share Analysis
7.2.3. By End User Market Share Analysis
7.2.4. By Region Market Share Analysis
8. Market Dynamics
8.1. Drivers
8.2. Challenges
9. Impact of COVID-19 on INDIA Cryptocurrency Market
9.1. Impact Assessment Model
9.1.1. Key Segments Impacted
9.1.2. Key Regions Impacted
10. Market Trends & Developments
11. Porter’s Five Forces Model
11.1. Competitive Rivalry
11.2. Bargaining Power of Buyers
11.3. Bargaining Power of Suppliers
11.4. Threat of New Entrants
11.5. Threat of Substitutes
12. SWOT Analysis
12.1. Strengths
12.2. Weaknesses
12.3. Opportunities
12.4. Threats
13. Policy and Regulatory Landscape
14. India Economic Profile
15. Competitive Landscape
15.1. Company Profiles
15.1.1. Intel Corporation India Private Limited
15.1.1.1. Company Details
15.1.1.2. Product & Services
15.1.1.3. Financials (As Per Availability)
15.1.1.4. Key market Focus & Geographical Presence
15.1.1.5. Recent Developments
15.1.1.6. Key Management Personnel
15.1.2. NVIDIA Corporation
15.1.2.1. Company Details
15.1.2.2. Product & Services
15.1.2.3. Financials (As Per Availability)
15.1.2.4. Key market Focus & Geographical Presence
15.1.2.5. Recent Developments
15.1.2.6. Key Management Personnel
15.1.3. Microsoft Corporation India Pvt Ltd
15.1.3.1. Company Details
15.1.3.2. Product & Services
15.1.3.3. Financials (As Per Availability)
15.1.3.4. Key market Focus & Geographical Presence
15.1.3.5. Recent Developments
15.1.3.6. Key Management Personnel
15.1.4. Xilinx India Private Limited
15.1.4.1. Company Details
15.1.4.2. Product & Services
15.1.4.3. Financials (As Per Availability)
15.1.4.4. Key market Focus & Geographical Presence
15.1.4.5. Recent Developments
15.1.4.6. Key Management Personnel
15.1.5. Advanced Microdevices Pvt. Ltd.
15.1.5.1. Company Details
15.1.5.2. Product & Services
15.1.5.3. Financials (As Per Availability)
15.1.5.4. Key market Focus & Geographical Presence
15.1.5.5. Recent Developments
15.1.5.6. Key Management Personnel
15.1.6. Amazon India Pvt Ltd.
15.1.6.1. Company Details
15.1.6.2. Product & Services
15.1.6.3. Financials (As Per Availability)
15.1.6.4. Key market Focus & Geographical Presence
15.1.6.5. Recent Developments
15.1.6.6. Key Management Personnel
15.1.7. Unocoin
15.1.7.1. Company Details
15.1.7.2. Product & Services
15.1.7.3. Financials (As Per Availability)
15.1.7.4. Key market Focus & Geographical Presence
15.1.7.5. Recent Developments
15.1.7.6. Key Management Personnel
15.1.8. BitGo
15.1.8.1. Company Details
15.1.8.2. Product & Services
15.1.8.3. Financials (As Per Availability)
15.1.8.4. Key market Focus & Geographical Presence
15.1.8.5. Recent Developments
15.1.8.6. Key Management Personnel
15.1.9. Coinbase
15.1.9.1. Company Details
15.1.9.2. Product & Services
15.1.9.3. Financials (As Per Availability)
15.1.9.4. Key market Focus & Geographical Presence
15.1.9.5. Recent Developments
15.1.9.6. Key Management Personnel
15.1.10. Ripple Labs Private Limited
15.1.10.1. Company Details
15.1.10.2. Product & Services
15.1.10.3. Financials (As Per Availability)
15.1.10.4. Key market Focus & Geographical Presence
15.1.10.5. Recent Developments
15.1.10.6. Key Management Personnel
16. Strategic Recommendations
16.1. Key Focus Areas
16.2. Target Type
16.3. Target Offering
17. About Us & Disclaimer

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