CoinSwitch is set to launch an investment platform by June

CoinSwitch, a crypto unicorn founded by Ashish Singhal, Govind Soni, and Vimal Sagar Tiwari in 2017, has embarked on a new venture under its umbrella brand, PeepalCo. In December 2023, the founders launched PeepalCo to consolidate various entities, including CoinSwitch and a wealth management platform catering to High Net Worth Individuals (HNIs).

CoinSwitch, known for its crypto investment platform, recently surpassed 20 million registered users, solidifying its position as a significant player in the Indian crypto landscape.

Following this milestone, CoinSwitch is gearing up to launch an investment platform for retail investors by June 2024. According to co-founder Ashish Singhal, the company is conducting beta tests of its investment products and plans to launch them in the next quarter.

Singhal expressed confidence in leveraging the knowledge gained over the years to introduce products tailored for the stock market, mutual funds, and other investment avenues.

PeepalCo’s strategic move aims to transition from a single-product company to a multi-product entity, encompassing various verticals under one corporate brand. This includes CoinSwitch and CoinSwitch PRO, alongside a soon-to-be-launched platform featuring new investment classes such as mutual funds and equities and a wealth management division for HNIs.

The restructuring under PeepalCo involves Singhal assuming the role of Group CEO, with Tiwari and Soni serving as Group COO and Group CTO, respectively. Each business segment will have independent leaders overseeing operations. CoinSwitch Ventures, currently under PeepalCo’s leadership, will merge with the parent company without impacting its core functionality.

Navigating the crowded investment landscape in India poses challenges for PeepalCo, with established players like Zerodha and Groww dominating the market. Singhal emphasized the company’s approach to addressing flaws in the industry’s decision-making processes, aiming to provide users with better guidance on investments.