Future Plans: PeepalCo’s Forthcoming Initiatives to Expand Offerings in the Coming Months
CoinSwitch, a prominent cryptocurrency trading platform in India, unveiled its new umbrella brand, PeepalCo, on Tuesday, December 12. This brand consolidation encompasses three platforms owned by the company. Among these internal units is CoinSwitch’s crypto retail app and advanced trading platform, CoinSwitch Pro. Additionally, two other units—a soon-to-be-launched platform featuring newer investment classes and a wealth-management division catering to High-Net-Worth Individuals—are set to make their market entries shortly.
Ashish Singhal, Co-Founder and Group CEO of PeepalCo, emphasized, “The new structure is designed to unlock the full potential of our organization and align our resources more effectively. We will focus on capital allocation, and PeepalCo will guide us in the journey forward to democratize wealth-creation for India,” in an official statement.
Balaji Srihari, with prior experience managing CoinSwitch apps, has been appointed as the Business Head to lead PeepalCo’s CoinSwitch division. The upcoming months will witness PeepalCo unveiling its forthcoming initiatives, primarily aimed at expanding its offerings, as part of its strategic growth trajectory.
The company’s plans to do so do not come as a surprise given that the Web3 sector in India is still largely unregulated. As per recent updates shared by government officials, concrete laws to govern the crypto sector could still be up to 18 months away.
Due to a drop in user engagements, CoinSwitch had recently trimmed its customer support team. To ramp up engagements with its platform, CoinSwitch launched a new feature called ‘Earn’. Through this, the platform will let users ‘lock-in’ their crypto assets and earn rewards in the form of cryptocurrencies and monetise their holdings without having to sell their assets.
In the months to come, PeepalCo will expediate the process of bringing in services like fixed deposits, bonds, exchange-traded funds (ETFs), stocks, and mutual funds — all of which are classified as highly-regulated investment products — to keep its business on the roll despite a growth lag in the core crypto segments.