Key Highlights
- CoinSwitch, the Indian cryptocurrency exchange, announced the launch of CoinSwitch Pro.
- With CoinSwitch Pro, the company plans to reimagine and revolutionize its users’ entire crypto trading experience.
- It also announced the launch of its first non-crypto service by the end of March.
CoinSwitch, an Indian cryptocurrency exchange, announced the launch of CoinSwitch Pro. It would be the first-of-its-kind KYC-compliant multi-exchange trading platform. Via this platform, the users can trade crypto assets in Indian Rupees across multiple exchanges with a single login on the site.
The firm mentioned that this newly introduced trading platform would allow users to discover, compare, analyze, take advantage of arbitrage opportunities, and manage assets in a consolidated portfolio.
CoinSwitch Pro and Crypto Assets Trading
Ashish Singhal, CEO of the exchange, mentioned, “CoinSwitch Pro will help Indians trade crypto assets on a KYC-compliant platform in a way never seen before. We believe crypto traders are currently underserved by products in India.
With CoinSwitch Pro, we want to take the trading experience to the next level — help traders discover and leverage the price movement of crypto assets across multiple exchanges simultaneously, creating new opportunities to make profits”
The said exchange has worked to revolutionize and democratize crypto asset investment and has raised awareness among about 18 million retail users.
With this, the crypto platform has secured its place as one of the largest crypto platforms in India. The firm has achieved this position within merely two years of its launch with the help of CoinSwtich Kuber.
CoinSwitch’s First Non-crypto Service
With the launch of this platform, the firm has decided to reimagine the entire trading experience for Indian users. Without diving any deeper into the details, the company claimed in the announcement that it also plans to introduce its first non-crypto service, which will be out by the end of March.
Founded in 2017 by childhood friends Ashish Singhal, Vimal Sagar Tiwari, and Govind Soni, it is India’s largest crypto app, with over 18 million users and more than 500 employees.
The firm is backed by some of the world’s largest investors. These include a16z, Tiger Global, Sequoia Capital India, Ribbit Capital, and Paradigm, among other blue-chip investors.
In September 2021, it raised about $260 million in Series C funding from Andreessen Horowitz (a 16z) and Coinbase Ventures. With this, the company became a crypto unicorn at a valuation of $1.9 billion.
