CoinSwitch Kuber, crypto platform, today announced that it has hit 10 million registered users this week, to become India’s largest crypto platform in 15 months since starting operations in India in June 2020. Out of this, 7 million are active users with a monthly transaction volume of INR 15,138 crores, it said in a press release.
On CoinSwitch Kuber, the average crypto investment is about Rs 9,000 per month per user, with investors in tier 1 cities making larger trades over smaller towns. In tier 1 cities, the average monthly ticket size is about Rs11,600, in tier 2 about Rs 6,600 and in tier 3 about Rs 3,500 per user, the press release said.
Ashish Singhal, Co-founder & CEO, CoinSwitch Kuber, said, “In 2020, the crypto industry witnessed a whopping 200-300 percent month-on-month growth in spite of the raging pandemic.”
CoinSwitch Kuber is backed by Tiger Global, Ribbit Capital, Sequoia Capital and Paradigm Capital.
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