CoinSwitch releases Proof of Reserves report
Hyderabad: CoinSwitch, a crypto platform with over 2 crore users, has released its fifth Proof of Reserves (PoR) report, reaffirming its commitment to transparency, trust, and investor protection. The report confirms that CoinSwitch holds more crypto and INR assets than the total amount held by its customers.
As of March 31, the company's total reserves stood at Rs2,764.20 crore, compared to customer holdings of Rs2,138.64 crore creating a surplus of Rs625.56 crore. This surplus reflects the company's prudent asset and liquidity management, providing reassurance to its growing investor base not only in large metros but also in smaller towns across the country. According to the comapny's recent How India Invests 2024 report, Hyderabad ranks among the top Tier-2 cities leading crypto adoption in India.
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