Indian Crypto Exchange CoinSwitch Launches New Investment Service for High Net Worth Individuals

Last updated:

Author

Sujha Sundararajan

Author

Sujha Sundararajan

About Author

Sujha has been recognised as 🟣 Women In Crypto 2024 🟣 by BeInCrypto for her leadership in crypto journalism.

Last updated:

Why Trust Cryptonews

With over a decade of crypto coverage, Cryptonews delivers authoritative insights you can rely on. Our veteran team of journalists and analysts combines in-depth market knowledge with hands-on testing of blockchain technologies. We maintain strict editorial standards, ensuring factual accuracy and impartial reporting on both established cryptocurrencies and emerging projects. Our longstanding presence in the industry and commitment to quality journalism make Cryptonews a trusted source in the dynamic world of digital assets. Read more about Cryptonews

CoinSwitch, an Indian crypto trading platform, announced Thursday that it has launched a specialized crypto investment service, targeting high net-worth individuals (HNI).

CoinSwitch, which recently sued the beleaguered WazirX exchange in a lawsuit, aims to offer HNIs with personalized investment advisory. Per local reports, the service designed for HNIs and institutional investors, will also provide access to robust risk management solutions.

Additionally, the service which is already available on its website, includes dedicated account managers, professional tax filing assistance, among others. Besides, users can avail institutional-grade security for custody solutions with “state of the art” encryption.

This feature is open to anyone with over ₹10 lakhs ($11,907) investment, the Hindu Businessline reported. Further, the services can be extended to family offices as well.

Balaji Srihari, Business Head of CoinSwitch, said that the launch comes as a result of surge in institutional interest in the global crypto space, particularly after the US SEC’s recent Bitcoin and Ether spot ETF approvals.

“With the new offering, we aim to provide a secure, customised, and professional approach to crypto investing, equipping our users with the tools and insights they need to navigate this dynamic market confidently.”

Srihari also noted that there has been an initial interest from institutional investors in the platform already.

“Once the user submits their query on the platform, our team will connect with them to assess their financial goals, risk tolerance, and market outlook,” he added.

Finally, CoinSwitch will create a customized plan based on the assessment and will charge accordingly. Besides, the company is also increasing its assets under management (AUM).

CoinSwitch’s Growing User Base: 20 Million in March

The platform announced in March that it has become the first Indian crypto exchange to surpass 20 million registered users. In addition to that, the number of users in profit also saw a remarkable surge of over 80%.

Furthermore, CoinSwitch witnessed a remarkable growth in user registrations, with numbers increasing fivefold since the beginning of the year. The numbers surpassed the daily average user growth recorded in 2023, per a report from Businessline.

You May Also Like