Coinswitch kuber
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- Claim Profile
- 'To usher an era of decentralisation’: WazirX, Coinswitch Kuber bosses on crypto
- India gets its second crypto unicorn; CoinSwitch Kuber valued at $1.9B with $260M funding
- CoinSwitch Kuber raises $25 million from Tiger Global at a valuation of over half a billion
- CoinSwitch Kuber to reboot as wealth tech startup: CEO
- CoinSwitch Kuber gets Ranveer Singh to flip its coin
- Budget 2022: 30% tax on income from digital assets explained
- Crypto Exchanges: CoinDCX, CoinSwitch Kuber among others ad spend top Rs 50 crore in T20 World Cup
- CoinSwitch Kuber CEO says crypto ban unlikely as $6-bn assets held in India
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New Delhi : Indian cryptocurrency exchanges loosened their purse strings as they collectively spent more than Rs 50 crore on commercials during the recently concluded ICC T20 World Cup. Amid rising concerns about cryptocurrencies and the possible risks emanating from trading in them, the ad-spending blitz, dominated by CoinDCX, may have increased regulatory concerns over this emerging asset class and the commercials that promote them.
The ad and marketing spend by other exchanges such as WazirX is Rs crore. Plus, data for the first 42 T20 matches demonstrates the cryptocurrency exchange had a 4 per cent share of overall ad volume during the T20 World Cup.
For the first time, cryptocurrency exchanges have gone on a spree during a major sports event in India. Experts say TV ad campaigns by cryptocurrency exchanges surged in the past month. The matter was discussed at a meeting on Saturday chaired by Prime Minister Narendra Modi and attended by senior officials from ministries and regulators, including the Reserve Bank of India RBI , which is believed to have reiterated its concerns over cryptocurrencies and wanted a ban on crypto assets.
Those at the meeting raised concerns, saying virtual currencies were intangible, making rules and taxation difficult. Meanwhile, the winter session of Parliament starting on November 29 is likely to take up the draft bill on regulating cryptocurrency, amid concerns over such virtual currencies being allegedly used for wooing investors with false claims and for funding terror activities.
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'To usher an era of decentralisation’: WazirX, Coinswitch Kuber bosses on crypto
Existing investors Tiger Global and Sequoia Capital India also participated in the new round, which is also the largest for a cryptocurrency startup in India. CoinSwitch is the 30th Indian startup to become a unicorn this year, and only the second in the crypto space. CoinSwitch is one of the handful of startups in India that allows users to buy and sell cryptocurrencies. From the functionality and user interface standpoints, its offerings are much superior, according to dozens of users TechCrunch has spoken to in recent days. The eponymous app offers users over 70 cryptocurrencies to choose from and the trading is instant, said Ashish Singhal, co-founder and chief executive of CoinSwitch Kuber, in an interview with TechCrunch. CoinSwitch has amassed over 10 million registered users, most of whom are young and first-time investors, he said.
India gets its second crypto unicorn; CoinSwitch Kuber valued at $1.9B with $260M funding
Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration. CoinSwitch, which competes with cryptocurrency platforms including WazirX and CoinDCX in India, has over 10 million users in the country with a monthly active user base of over seven million. The company added it was now the country's largest crypto asset platform. Reuters could not independently verify the claim. CoinSwitch said it would use the funds to onboard 50 million Indians on its platform and roll out new products. Bengaluru-based CoinSwitch, founded in , was launched as a global aggregator of crypto exchanges. It started its India operations in June last year. India was set to present a bill to parliament by March this year that proposed a ban on cryptocurrencies, making trading and holding them illegal, but the bill was not tabled. Local media had also reported the government was looking to tax cryptocurrency trades and ecosystem in the country. We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be.
CoinSwitch Kuber raises $25 million from Tiger Global at a valuation of over half a billion
Finance Minister Nirmala Sitharaman announced a 30 per cent tax on virtual digital assets like cryptocurrencies and non-fungible tokens NFTs in the Union Budget on Tuesday. The Finance Bill defines virtual digital assets to include "any information or code or number or token not being Indian currency or foreign currency , generated through cryptographic means or otherwise, by whatever name called, providing a digital representation of value exchanged with or without consideration, with the promise or representation of having inherent value, or functions as a store of value or a unit of account including its use in any financial transaction or investment, but not limited to investment scheme; and can be transferred, stored or traded electronically. A non-fungible token or "any other token of similar nature, by whatever name called" would also come under the umbrella of digital assets. The budget proposes to tax any income from the transfer of these assets at 30 per cent. Any gift, including inheritance, of such a digital token would be taxed at the hands of the recipient.
CoinSwitch Kuber to reboot as wealth tech startup: CEO
If you are a legal representative of the company, you can claim this profile page. We will reach out to you and verify your claim. Founded in and headquartered in Mumbai, CoinDCX is a company that specialises in crypto-enabled financial services and acts as a cryptocurrency trading client. Aims to make crypto accessible to Indians. CrypticOcean offers enterprise blockchain solution, smart contract development and security audit solutions. DeFi Wizard is a dashboard for building DeFi decentralized finance smart contracts.
CoinSwitch Kuber gets Ranveer Singh to flip its coin
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group , which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights , which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG. Jamie Crawley. Jamie Crawley is a CoinDesk news reporter based in London.
Budget 2022: 30% tax on income from digital assets explained
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Crypto Exchanges: CoinDCX, CoinSwitch Kuber among others ad spend top Rs 50 crore in T20 World Cup
Have you read these stories? Post Budget live: Impact on taxes, investments Updated: Feb 02, , At a post Budget briefing, PM Modi said digital currency will boost the digital economy in the year to come, adding that the RBI-backe ET NOW.
CoinSwitch Kuber CEO says crypto ban unlikely as $6-bn assets held in India
Singh has been roped in as the brand's first-ever brand ambassador. CoinSwitch Kuber today announced the onboarding of Bollywood superstar and youth icon Ranveer Singh as its first-ever brand ambassador. CoinSwitch Kuber and Ranveer Singh will work towards highlighting the growing acceptance of crypto in India while enhancing crypto awareness and trust in this emerging asset class. The ad films drive the narrative of the potential of cryptocurrency to become the preferred choice of investment for the diverse Indian population, especially those living in tier 2 and tier 3 cities. Each of the ad films is designed to convey a different key trait of the CoinSwitch Kuber platform. The first film conveys the simplicity that the app provides when it comes to making an investment. Our aim is to make crypto accessible to billions in India while making it as simple as ordering food online.
CoinSwitch Kuber makes cryptocurrency investments simple and hassle free for retail users in India. We are a diverse bunch of problem solvers working together to build and deliver an experience that allows users to earn while they grow their investments. Making financial investment in India equal for all is something we live for. Every day we strive dynamically for our mission by providing a simple, fast, and secure investment platform for our users to make their money work more for themselves.
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