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

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.

Author Profile

Share

Copied

Last updated:

September 5, 2024 05:08 EDT

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving 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.