The wait for Cryptocurrencies to expand in India continues. Notably, Ashish Singhal, Co-founder and CEO of leading crypto exchange CoinSwitch Kuber is targeting to get at least 50 million users from India in the next two years. Thereby, granting them exposure around crypto investments and assist them create wealth.
Meanwhile, CoinSwitch Kuber booats over 15 million users in India. Now, a new unicorn and also the most valuable crypto company in India. Also, its worth value at $1.9 billion.
“The past 18-20 months in the Covid pandemic has taught most of us the value of money…”
“We are here not only to solve the crypto problems for the Indian investors,…”
“but also solve the wealth management issue, with crypto being a key financial asset in their portfolio,” More so, Singhal tells IANS during an interaction.
Singhal, Govind Soni and Vimal Sagar Launched CoinSwitch India Operations
Moving further, The exchange is seeing massive growth.
Currently, The cryptocurrency market is growing and may reach to $241 million by 2030 in India. Then, $2.3 billion by 2026 globally.
“We want to remove all the complexities in crypto trading,..”
“educate the consumers and give them a simplified experience of one-click buy and sell in crypto,”
Furthermore, Singhal continues,
“We are in India to work together with the government, to align with its vision,..”
“and together help create regulations that are beneficial for the industry,…”
“especially those innovating around crypto and Blockchain technology,” Singhal says.
Meanwhile, In just 15 months of commencing operations in India, CoinSwitch Kuber is now India’s largest crypto exchange.
Singhal Says Next Big Tech Will Come To India, based on Web 3.0 and Blockchain.
“We are constantly adding new users. More than 55 per cent of our users are coming from Tier 2 and 3 cities…”
“People from more than 4,000 cities are investing on our platform…”
“Now, the aim is to create the right sets of answers for investors…”
“to understand this industry better,”
Recently, CoinSwitch Kuber raises over $260 million in its Series C funding round from Andreessen Horowitz (a16z). Of course, from Coinbase Ventures and existing investors. Consequently, American venture capital firm a16z records its first investment in an Indian unicorn.
Which of course, it plans to get the best talent, including leaders and experts across engineering. Of course, also product, data, and growth to define the crypto industry in India.
“I think we have solved the investment part as we have…”
“been a platform for people to come and join…”
“Now, we have to solve the other part which is how to make crypto mainstream…”
“Even if you don’t have to invest in crypto, you should know about crypto…”
“because that is where the world is moving,”
So, Singhal explains to IANS.
Currently, CoinSwitch Kuber offers buying more than 80 digital coins with one-click experience.
“The crypto investment is much more than just Bitcoin,..”
“as 95 per cent of those coming onto our platform are buying Bitcoin…”
Also, Singhal explains further,
“We are telling the investors that there is a whole new world out there which needs to be explored,..”
“with the right kind of education. Lot of people who join our platform realise that…”
“the world of crypto is much bigger, and this is what we are teaching them,”
Lastly, Singhal concludes.