CoinSwitch Kuber is a user-friendly cryptocurrency exchange platform in India that trades in more than 100+ Crypto. CoinSwitch was co-founded by Ashish Singhal along with his partners Govind Soni and Vimal Sagar Tiwari. It is one of the top 10 crypto exchanges in India that has over 4 million+ users worldwide.
Ashish Singhal is an alumnus of Netaji Subhas Institute of Technology. He is a hacker at heart and also the winner of all major hackathons in India including those hosted by Sequoia, Google, Amazon, and LinkedIn. Ashish has previously worked as a software development Engineer for Amazon and Microsoft. The 1-hour delivery model for Amazon prime members was introduced by him. He is the CEO of CoinSwitch and CRUXPay.
How was CoinSwitch found?
CoinSwitch was founded in 2017, and the company launched its India-exclusive Crypto platform, CoinSwitch Kuber in 2020. Ashish founded CoinSwitch with a hacking technique to combine the liquidity of all exchanges in order to get the best prices on Kuber. After the rumors of Ban on crypto in 2018, CoinSwitch had to go global. But it is back in India with Kuber since the supreme court ruled out such demands. Singhal believes in easing the process of buying or selling crypto in India. He has started Kuber with the idea of eliminating the complexity of getting in and out of the crypto market. The CEO believes in providing low and best prices, top-notch security, and simplicity while dealing with Crypto.
The Founder’s take on Regulation of Crypto :
Ashish strongly believes that the crypto market should be regulated in order to make the companies more trustworthy. “The users will have more trust and reliability when they know that the Government has laid out a set of rules which will protect their investment. They will be assured that their funds will not be misused, or stolen by any Crypto exchange. These regulations are extremely important for the crypto companies to grow and more users to enter the market.” He said in an interview with Crypto Kanoon.
Growth of CoinSwitch Kuber
- It was launched on 1st June 2020.
- CoinSwitch raised $15 Million In Series A funding from Ribbit Capital, Paradigm, and Sequoia Capital India.
- Kuber raised $25 million in its Series B funding from Tiger Global Management.
- The company obtained customer care of 5 million+ users in May 2021.
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“We believe that a lot of our users are very young. They will diversify their portfolios in the next two to three years into stocks, mutual funds, and different asset classes altogether. So Coinswitch always wanted to get into those asset classes, and provide complete portfolio management for our users,” Singhal said in an interview with The Economic Times.