CoinSwitch, an Indian crypto trading platform, announced on Thursday that it has launched a specialized crypto investment service that is specifically designed for high-net-worth individuals (HNI).
CoinSwitch recently filed a lawsuit against the WazirX exchange and is committed to providing high-net-worth individuals with personalized investment advice.
According to local reports, the service designed explicitly for HNIs and institutional investors will also offer access to comprehensive risk management solutions.
Furthermore, the service, which is currently accessible on the website, encompasses professional tax submission assistance, dedicated account managers, and more. Moreover, custody solutions utilizing “state-of-the-art” encryption are available to consumers, providing institutional-grade security.
According to Hindu Businessline, this feature is accessible to individuals with over ₹ 10 lakhs ($11,907) in investment. Additionally, the services may be extended to family offices.
Balaji Srihari, the Business Head of CoinSwitch, stated that the launch resulted from a significant increase in institutional interest in the global crypto space, particularly in light of the recent Bitcoin and Ether spot ETF approvals by the US SEC.
“Our objective with the new offering is to offer a secure, personalized, and professional approach to crypto investing, providing our users with the necessary tools and insights to navigate this dynamic market confidently.”
Srihari also observed that institutional investors have already expressed interest in the platform.
“Our team will engage with the user to evaluate their financial objectives, risk tolerance, and market outlook after they submit their query on the platform,” he stated.
Lastly, CoinSwitch will develop a personalized plan based on the evaluation and impose a fee. Additionally, the company is expanding its assets under management (AUM).
In March, the platform declared that it had surpassed 20 million registered users, making it the first Indian crypto exchange to achieve this milestone. Furthermore, the number of profitable consumers increased by more than 80%.
Additionally, CoinSwitch has experienced an extraordinary surge in user registrations, with a fivefold increase in users since the beginning of the year. According to a report from Businessline, the figures exceeded the daily average user growth observed in 2023.
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