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Going Beyond Crypto: Why CoinSwitch Puts Compliance Before 'Quick Growth' Hacks

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CoinSwitch Kuber's Ashish Singhal says the priority is on sustainable growth rather than quick wins, even as he says the company is not going for an IPO any time soon
The article from Inc42 discusses CoinSwitch Kuber, a prominent Indian cryptocurrency trading platform, and its strategic moves towards compliance and expansion. CoinSwitch Kuber has been focusing on adhering to regulatory frameworks, especially after the Indian government imposed a 30% tax on crypto profits and a 1% TDS on transactions. The platform has been engaging with regulators to ensure compliance, which includes obtaining necessary licenses and following anti-money laundering (AML) and know your customer (KYC) norms. Amidst these regulatory adjustments, CoinSwitch Kuber has also been exploring avenues for growth, including potential investments and an initial public offering (IPO). The company has raised significant funding, with its valuation soaring, and is now looking at further investments to fuel its expansion plans. Additionally, CoinSwitch Kuber is diversifying its offerings beyond just trading, aiming to provide a comprehensive suite of financial services, which could include wealth management and other investment products, positioning itself as a one-stop financial solution provider in the crypto space.

Read the Full inc42 Article at:
[ https://inc42.com/features/coinswitch-kuber-crypto-compliance-investments-ipo-funding/ ]