India’s CoinSwitch Unveils PeepalCo as New Umbrella Brand for Crypto Business Divisions
CoinSwitch, a leading cryptocurrency investment platform in India, has announced the launch of PeepalCo, a new umbrella brand that will encompass all of its business divisions as part of its expansion into wealth technology. PeepalCo will house CoinSwitch, the crypto retail app, and CoinSwitch PRO, the advanced trading platform. It will also feature a soon-to-be-launched platform for newer investment classes and a wealth-management division catering to High-Net-Worth Individuals (HNIs).
The restructuring aims to empower each business unit to maintain agility and drive innovation while adhering to compliance and regulatory standards. Ashish Singhal, Co-founder & Group CEO of PeepalCo group; Govind Soni, Co-founder & Group CTO of PeepalCo group; and Vimal Sagar Tiwari, Co-founder & Group COO of PeepalCo group, will oversee the initiatives within the PeepalCo group.
Long-Term Vision and Focus on Wealth Creation
Ashish Singhal, Co-Founder and Group CEO of the PeepalCo group, shared the organization’s long-term vision, stating that the new structure aims to unlock the full potential of their organization and allocate resources more effectively. The focus will be on capital allocation and ensuring that each business is executing to its best potential. The goal is to democratize wealth creation for India.
Independent Operational Leadership
Under the new structure, leaders of each business segment will have independent operational and financial accountability. Balaji Srihari will assume the position of Business Head for CoinSwitch. With his extensive experience in developing and managing the CoinSwitch app and CoinSwitch PRO, he is expected to drive the platform toward greater success.
Adapting to Changing Crypto Landscape
Many top Indian crypto exchanges are diversifying their revenue streams or adding new business lines in response to the government’s enforcement of a 30% tax on crypto earnings, which has resulted in decreased trading volumes.
Hot Take: CoinSwitch’s PeepalCo Aims to Revolutionize India’s Crypto Landscape
CoinSwitch’s launch of PeepalCo as an umbrella brand for its crypto business divisions marks a significant step in the company’s expansion into wealth technology. By housing multiple brands under one roof, PeepalCo aims to drive innovation, ensure compliance, and cater to the diverse needs of cryptocurrency investors. With a focus on democratizing wealth creation, PeepalCo is poised to play a pivotal role in shaping India’s crypto landscape. As the market evolves and regulatory challenges persist, the restructuring positions CoinSwitch and its affiliated platforms for long-term success and adaptability.
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