CoinSwitch, a prominent player in India’s cryptocurrency trading landscape, has revealed its new umbrella brand, PeepalCo, on December 12. The launch of PeepalCo signals a strategic move by CoinSwitch to broaden its scope and offerings in the wealth tech sector. The newly introduced brand will encompass three distinct platforms, including CoinSwitch Pro, the crypto retail app, and an advanced trading platform. Additionally, PeepalCo will introduce two forthcoming units—one dedicated to newer investment classes and another focusing on wealth management for High-Net-Worth Individuals.
Ashish Singhal, Co-Founder and Group CEO of PeepalCo, emphasized the significance of the new brand structure in optimizing organizational resources and unlocking its full potential. The overarching goal is to democratize wealth creation in India, with a specific focus on capital allocation guided by PeepalCo.
Balaji Srihari has been appointed as the Business Head to lead PeepalCo’s CoinSwitch division, leveraging his previous experience managing CoinSwitch apps. The unveiling of PeepalCo marks the beginning of an expansive journey, with the upcoming months set to witness the introduction of initiatives aimed at broadening the platform’s offerings.
The move aligns with the company’s strategic vision to adapt and thrive in the evolving regulatory landscape of the Web3 sector in India. With concrete regulations for the crypto sector potentially up to 18 months away, PeepalCo aims to position itself as a leader in wealth tech by diversifying its offerings.
CoinSwitch’s recent adjustment in its customer support team was attributed to a decline in user engagements. To reinvigorate platform engagement, CoinSwitch introduced the ‘Earn’ feature, allowing users to lock in their crypto assets and earn rewards without liquidating their holdings.
In the coming months, PeepalCo plans to introduce an array of highly-regulated investment products, including fixed deposits, bonds, exchange-traded funds (ETFs), stocks, and mutual funds. These offerings are strategically chosen to sustain business momentum despite potential growth lags in the core crypto segments.
