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CoinSwitch, a prominent Indian cryptocurrency trading platform, recently revealed the launch of a tailored crypto investment service aimed at high net-worth individuals (HNIs) and institutional investors. This initiative marks a significant step in addressing the complex needs of wealthier clients in the rapidly evolving crypto market.
Targeting High Net-Worth Individuals
The newly introduced service is designed to offer personalized investment advisory, following CoinSwitch’s recent legal actions against rival exchange WazirX. According to local reports, HNIs will receive specialized access to comprehensive risk management solutions, which are crucial in managing the volatile nature of cryptocurrencies.
Features of the New Service
Available now on the CoinSwitch platform, the new service provides several premium features, including dedicated account managers and professional assistance with tax filing. Moreover, users can benefit from institutional-grade security for custody solutions, employing state-of-the-art encryption technology to safeguard their assets.
To access this exclusive service, users must have an investment capital of over ₹10 lakhs (approximately $11,907). Additionally, the offerings can be extended to family offices, recognizing the growing demand for sophisticated investment solutions amongst affluent families.
Market Context and Institutional Interest
Balaji Srihari, the Business Head of CoinSwitch, stated that the launch is timed with an uptick in institutional interest within the global cryptocurrency sphere. This surge follows the recent approval of Bitcoin and Ether spot ETFs by the U.S. SEC, which has spurred more serious investments in crypto markets.
Srihari emphasized that this offering aims to provide users with a “secure, customized, and professional approach to crypto investing,” allowing them to navigate the dynamic crypto market with confidence. He also mentioned that initial interest from institutional investors has been promising.
Custom Investment Plans
Upon submitting an inquiry on the platform, potential users will be connected with CoinSwitch’s team to evaluate their financial objectives, risk tolerance, and market outlook. Based on this assessment, personalized investment plans will be curated for each client, with fees structured accordingly. This bespoke service is positioned to grow the company’s assets under management (AUM).
CoinSwitch’s Expanding User Base
In March 2024, CoinSwitch announced that it had achieved a significant milestone by surpassing 20 million registered users, making it the first Indian crypto exchange to reach this benchmark. Alongside this achievement, the platform noted that over 80% of its user base is currently in profit, indicating a positive market reception.
Furthermore, CoinSwitch has experienced a remarkable fivefold increase in user registrations since the year’s start, surpassing previous daily average growth rates for 2023. This rapid expansion reflects the growing interest in crypto investments and the effectiveness of CoinSwitch’s user-centric approach.
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