Latest news with #BalajiSrihari
Hans India
31-07-2025
- Business
- Hans India
Hyd bags 4th spot in crypto adoption
Hyderabad: Hyderabad ranked 4th in India's crypto investment landscape in Q2 2025, contributing 4.6 per cent to the country's overall crypto investments, according to 'India's Crypto Portfolio' report by crypto trading platform CoinSwitch. 'Q2 2025 has been a breakout quarter for crypto globally, and India is no exception. Bitcoin's rally past $123,000, policy shifts in the West, and growing investor confidence have together sparked a surge in participation,' said Balaji Srihari, Vice President, CoinSwitch. 'Crypto is clearly mainstreaming in India, and the fact that a majority of investor wallets are in profit reflects just how far the ecosystem has come. We're seeing Indians build well-rounded portfolios, from blue-chip assets like BTC and ETH to bold bets on Meme and gaming tokens. The momentum is real, the adoption is deepening, and it's making India one of the most dynamic crypto markets in the world,' he added.
The Wire
07-07-2025
- Business
- The Wire
CoinSwitch Launches Web3 Coins: Access 1,00,000+ Crypto Tokens Using INR
Bengaluru, Karnataka, India (NewsVoir) CoinSwitch, India's largest crypto trading platform with over 2 crore users, today announced the launch of Web3 Coins, a major leap toward making decentralised crypto accessible to everyday investors. With this, users can now access over 1,00,000 crypto tokens and trade them directly in INR. Web3 Coins gives investors immediate access to high-potential emerging tokens typically available on decentralised exchanges; without the usual hurdles of wallet setup, on/off ramp, token swaps, or network fees. Designed for everyday investors, it brings the benefits of decentralised trading to the mainstream by removing the complexity that often holds them back. While the trading operates on decentralised infrastructure, access is securely managed through the CoinSwitch platform, ensuring full compliance with existing regulations in India. 'With Web3 Coins, we are delivering on our promise to make cutting-edge crypto opportunities accessible to everyday investors minus the complexity,' said Balaji Srihari, VP at CoinSwitch. 'As crypto continues to evolve, our goal is to ensure that innovation and opportunity are not limited to the technically fluent. Web3 Coins brings the frontier of crypto within reach of the mainstream investor.' Globally, decentralised exchanges are growing at a fast pace, now accounting for nearly 200 million unique trading addresses. According to crypto data platform Dune, DEX platforms have recorded over $2.45 trillion in trading volume over the past 12 months. This launch comes amid rising investor interest in early-stage tokens, with 34% of CoinSwitch's active traders engaging with new tokens in the past six months. Decentralised exchanges facilitate access to several tokens including utility tokens, governance tokens, meme coins, or stablecoins. These tokens are core to the crypto ecosystem and funding blockchain based innovation. Yet, Indian users, among the world's most active crypto adopters, have largely been excluded due to complex barriers. The launch of Web3 Coins by CoinSwitch changes that. To safeguard users, CoinSwitch follows the proprietary TRACE mechanism which determines what coins are made available to trade. This includes checks across five key areas: • Tokenomics verification • Risk scan • Audit of contract security • Community & social information • Exchange & liquidity metrics 'This launch is not just about expanding access. It is about doing it responsibly. And that's why we've built safeguards to ensure our users can participate with confidence,' added Srihari. India is already the global leader in grassroots crypto adoption. With products like Web3 Coins, CoinSwitch aims to further democratise access to digital assets while supporting responsible participation in the broader Web3 economy. About CoinSwitch Founded in 2017, CoinSwitch is India's largest crypto trading platform and a pioneer in shaping the country's crypto ecosystem. With over 2 crore users, CoinSwitch operates a regulatory-compliant platform that simplifies and enhances crypto trading for both retail and professional investors. Backed by global investors such as Coinbase Ventures, Tiger Global, and Sequoia Capital India to the tune of $300 million, CoinSwitch offers 350 coins on its platform. CoinSwitch is a PeepalCo product and is ISO/IEC 27001:2022 certified and Financial Intelligence Unit - India (FIU- IND) registered. For more information, visit About PeepalCo PeepalCo is a house of brands serving India with tailored wealth-tech products aimed at Making Money Equal for All. Founded by Ashish Singhal, Govind Soni and Vimal Sagar Tiwari, PeepalCo's products include CoinSwitch and Lemonn. The Group is backed by blue-chip investors including Andreessen Horowitz (a16z), Tiger Global, Peak XV Partners (formerly Sequoia Capital India), Ribbit Capital, Paradigm, and Coinbase Ventures. (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.).
Fashion Value Chain
07-07-2025
- Business
- Fashion Value Chain
CoinSwitch Launches Web3 Coins: Access 1,00,000+ Crypto Tokens using INR
CoinSwitch, India's largest crypto trading platform with over 2 crore users, today announced the launch of Web3 Coins, a major leap toward making decentralised crypto accessible to everyday investors. With this, users can now access over 1,00,000 crypto tokens and trade them directly in INR. Web3 Coins gives investors immediate access to high-potential emerging tokens typically available on decentralised exchanges; without the usual hurdles of wallet setup, on/off ramp, token swaps, or network fees. Designed for everyday investors, it brings the benefits of decentralised trading to the mainstream by removing the complexity that often holds them back. While the trading operates on decentralised infrastructure, access is securely managed through the CoinSwitch platform, ensuring full compliance with existing regulations in India. 'With Web3 Coins, we are delivering on our promise to make cutting-edge crypto opportunities accessible to everyday investors minus the complexity,' said Balaji Srihari, VP at CoinSwitch. 'As crypto continues to evolve, our goal is to ensure that innovation and opportunity are not limited to the technically fluent. Web3 Coins brings the frontier of crypto within reach of the mainstream investor.' Globally, decentralised exchanges are growing at a fast pace, now accounting for nearly 200 million unique trading addresses. According to crypto data platform Dune, DEX platforms have recorded over $2.45 trillion in trading volume over the past 12 months. This launch comes amid rising investor interest in early-stage tokens, with 34% of CoinSwitch's active traders engaging with new tokens in the past six months. Decentralised exchanges facilitate access to several tokens including utility tokens, governance tokens, meme coins, or stablecoins. These tokens are core to the crypto ecosystem and funding blockchain based innovation. Yet, Indian users, among the world's most active crypto adopters, have largely been excluded due to complex barriers. The launch of Web3 Coins by CoinSwitch changes that. To safeguard users, CoinSwitch follows the proprietary TRACE mechanism which determines what coins are made available to trade. This includes checks across five key areas: T okenomics verification R isk scan A udit of contract security C ommunity & social information Exchange & liquidity metrics â 'This launch is not just about expanding access. It is about doing it responsibly. And that's why we've built safeguards to ensure our users can participate with confidence,' added Srihari. India is already the global leader in grassroots crypto adoption. With products like Web3 Coins, CoinSwitch aims to further democratise access to digital assets while supporting responsible participation in the broader Web3 economy. About CoinSwitch Founded in 2017, CoinSwitch is Indias largest crypto trading platform and a pioneer in shaping the country's crypto ecosystem. With over 2 crore users, CoinSwitch operates a regulatory-compliant platform that simplifies and enhances crypto trading for both retail and professional investors. Backed by global investors such as Coinbase Ventures, Tiger Global, and Sequoia Capital India to the tune of $300 million, CoinSwitch offers 350+ coins on its platform. CoinSwitch is a PeepalCo product and is ISO/IEC 27001:2022 certified and Financial Intelligence Unit – India (FIU- IND) registered. For more information, About PeepalCo PeepalCo is a house of brands serving India with tailored wealth-tech products aimed at Making Money Equal for All. Founded by Ashish Singhal, Govind Soni and Vimal Sagar Tiwari, PeepalCos products include CoinSwitch and Lemonn. The Group is backed by blue-chip investors including Andreessen Horowitz (a16z), Tiger Global, Peak XV Partners (formerly Sequoia Capital India), Ribbit Capital, Paradigm, and Coinbase Ventures.
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Business Standard
07-05-2025
- Business
- Business Standard
CoinSwitch's fifth PoR shows ₹625 crore surplus over customer holdings
Crypto exchange platform CoinSwitch on Wednesday announced its fifth edition of proof of reserves (PoR) data, stating that the company's overall holdings of crypto and Indian currency balances were higher than those of its customers. The company's total reserves, including crypto and INR balances, were recorded at Rs 2,764.20 crore, while customer holdings stood at Rs 2,138.64 crore as of March 2025. The company's reserves represented a surplus of Rs 625.56 crore. When it came to the holdings of virtual digital assets alone, the company said that crypto user holdings were recorded at Rs 2,043.15 crore, whereas CoinSwitch's total crypto asset holdings stood at Rs 2,576.54 crore. PoR is the 'proof' that a financial entity has the holdings it claims to have. A PoR audit is published by crypto firms to inform customers that a custodian or a crypto platform is adequately liquid and that users can withdraw their funds at any time. It provides transparency on both the user's and the crypto exchange's holdings. In the third edition of the proof of reserves published last year, the company's crypto holdings stood at Rs 3,497.22 crore, whereas user holdings in the same basket were Rs 2,774.10 crore. 'This proof of reserves, now in its fifth edition, reflects our uncompromising focus on fund safety and user protection. We will continue to lead by example in bringing accountability and trust to India's crypto space,' said Balaji Srihari, vice-president, CoinSwitch. CoinSwitch has more than 20 million registered users. It was founded in 2017.
United News of India
30-04-2025
- Business
- United News of India
CoinSwitch launches INR-based Crypto Futures
Mumbai, Apr 30 (UNI) CoinSwitch, country's largest crypto trading platform has launched INR-based crypto Futures. This new feature enables Futures trading directly in INR, eliminating the need for USDT conversion, making the overall trading experience more seamless and efficient. On the announcement, Balaji Srihari, Vice President, CoinSwitch, said that 'India is one of the fastest-growing crypto markets in the world and second largest by value received, globally. It deserves solutions that reflect its unique needs and user behavior. With the addition of INR-based crypto futures on CoinSwitch, we're taking a step toward building a platform that's truly tailored for Indian users – removing unnecessary friction and making advanced trading tools more accessible than ever before.' This development stems from a key user insight – trading in INR is more intuitive and relatable for the Indian users as compared to USDT, which is commonly used as the quote currency in the global markets. By eliminating the need to convert INR to USDT, CoinSwitch aims to streamline the trading experience and make futures trading more accessible and user-friendly for the Indian market. UNI JS-NV ARN
