Marwadi Financial Services launches Crypto Connect, research desk to apprise investors on virtual digital assets

FPJ Web DeskUpdated: Monday, March 14, 2022, 08:11 PM IST
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Marwadi Financial Services has announced the launch of Crypto Connect, a dedicated research desk designed to apprise Indians on virtual digital assets.

On the back of a massive spurt in crypto transactions, a 30 percent tax on gains from crypto trades was declared in the Indian Union Budget 2022, with 1 percent taxed at source (TDS). Crypto Connect is a platform where individuals will have easy access to information and research on cryptos, it said in a press statement.

Through unbiased research, Crypto Connect will act as a guide and educate them about the new age asset class. Crypto Connect will not be making recommendations on the buying or selling of crypto, rather it is a platform for well-researched crypto information. Its focus is purely knowledge dissemination, the company clarified.

Speaking on the launch of India’s first crypto research desk, Keval Bhanushali, CEO, Marwadi Financial Services elucidates, “It is no wonder that crypto is gaining traction as digital assets are easy to trade and promise exponential growth in a short timeframe. Indians are looking to supplement existing returns from stocks and mutual funds, and we want to ensure they are making the right choices while keeping the necessary fail-safes in place. Crypto penetration in the country is high, and our goal is to educate society with unbiased research."

India has over 10 crore crypto asset investors with more than 8,000 cryptos being traded every day. However, over 90 percent of these cryptos will bust sooner or later. Crypto is a disruptive technology, so it is only necessary that the larger population is made aware of the benefits and the risks associated with it. To ensure that people do not lose their hard-earned money, Crypto Connect has been envisioned to empower individuals as they navigate the world of virtual digital assets with confidence, Bhanushali added.

Manit Ankhad, Head of Crypto Research & Vice President, Marwadi Financial Services said, “Crypto Connect offers informative reports exploring the latest developments in the space and in-depth, coin-specific research reports for thorough assessments. These will serve as a quick guide for people on their crypto curiosities.”

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