The Indian crypto exchange CoinSwitch launched a new investment service for wealthy individuals
Thursday marked the launch of a specialized crypto investment service by CoinSwitch, an Indian crypto trading platform, with an emphasis on high-net-worth individuals (HNI).
CoinSwitch, which recently filed a lawsuit against the WazirX exchange, is committed to providing high-net-worth individuals with personalized investment advice. The service, which is specific to HNIs and institutional investors, will also offer access to comprehensive risk management solutions, according to local reports.
Its website already offers a service that includes specialized account managers and professional tax filing help, among other things. Furthermore, custody solutions utilizing “state-of-the-art” encryption are available to consumers, providing institutional-grade security.
According to Hindu Businessline, this feature is accessible to individuals who have over ₹10 lakhs ($11,907) in investment. Additionally, family offices may utilize the services.
Balaji Srihari, the Business Head of CoinSwitch, stated that the launch is the consequence of a significant increase in institutional interest in the global crypto space, particularly in light of the recent Bitcoin and Ether spot ETF approvals by the US SEC.
“Our objective with the new offering is to offer a secure, personalized, and professional approach to crypto investing, providing our users with the necessary tools and insights to confidently navigate this dynamic market.”
Srihari also observed that institutional investors have already expressed interest in the platform. “Our team will engage with the user to evaluate their financial objectives, risk tolerance, and market outlook after they submit their inquiry on the platform,” he further stated.
Lastly, CoinSwitch will develop a personalized plan in accordance with the evaluation and impose a fee. Additionally, the company is expanding its assets under management (AUM).
In March, the platform declared that it had surpassed 20 million registered users, making it the first Indian crypto exchange to achieve this milestone. Furthermore, the number of consumers who were profitable increased by more than 80%.
Additionally, CoinSwitch has experienced an extraordinary surge in user registrations, with a fivefold increase in the number of users since the beginning of the year. According to a report from Businessline, the figures exceeded the daily average user growth that was observed in 2023.
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