Thursday, May 8 2025 | Time 16:45 Hrs(IST)
Business EconomyPosted at: May 7 2025 9:31PM


CoinSwitch holds higher crypto assets than its users

Mumbai, May 7 (UNI) Continuing its commitment to transparency and trust-building, CoinSwitch, India's largest crypto platform with over two crore users, claimed on Wednesday that the company’s total holdings in crypto and INR (Indian Rupees) exceed total assets held by its customers.
While publishing the fifth edition of its Proof of Reserves (POR), achieved through an independent audit and on-chain validation, as of March 31, 2025, CoinSwitch’s total reserves, including crypto and INR balance, stood at Rs 2,764.20 crore, while customer holding totaled Rs 2,138.64 crore, representing a surplus of Rs 625.56 crore, reflecting prudent asset management and robust liquidity.
According to the latest proof of reserves, CoinSwitch maintains a holdings ratio of 1:1 or more (a ratio of 1:1 or higher means the platform holds as much or more than users’ crypto and INR balances, allowing users to redeem or withdraw them at any time).
The assets held by PeepalCo, CoinSwitch’s parent brand PeepalCo, are in addition to these funds and are not included in this POR assessment, said a release issued here on Wednesday.
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