CoinSwitch launch crypto exchange exclusively for Indian users

Cryptocurrency aggregator CoinSwitch is launching a bespoke exchange for Indian users that will facilitate trades in Indian rupees (INR).

The exchange, dubbed CoinSwitch Kuber, will ensure the best rates by aggregating liquidity across all Indian exchanges and will support over 100 currencies for Indian users to trade.

Ashish Singhal, CEO and Co-Founder at CoinSwitch.co, said, “The launch of CoinSwitch Kuber  on June 1 will allow us to bring a simple crypto user experience to the Indian crypto trading market. With the recent Supreme Court reversal of the order which previously prohibited financial institutions from dealing with cryptocurrencies, we are excited to be at the forefront of cryptocurrency adoption in this country.

“Most citizens are new to cryptocurrency, and having a simple user experience will be of utmost importance for adoption. CoinSwitch Kuber will remove the complexities and create a user-friendly way to trade crypto at the best rates.”

The platform will initially be launched as a mobile application that will follow strict KYC/AML procedures before letting users deposit fiat currency.

CoinSwitch Kuber will begin by onboarding 25,000 people to test the service, with pre-launch users being entitled to a zero-fee trading experience while also having the opportunity to earn rewards.

In January Coin Rivet reported on India’s Supreme Court hearing on cryptocurrencies, where it was eventually decided that trading of digital assets would be legalised and regulated.

Singhal believes that the launch of the exchange will drive mainstream adoption of cryptocurrencies in India while making the nation a hub for crypto trading.

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