Singapore crypto exchange Coinstore enters Indian market


Cryptocurrency Futures Market and Spot Exchange Coinstore has announced its foray into the Indian market by launching its web and app platform for Indian users. Indian users can use Coinstore’s easy to understand user interface to trade, buy and sell cryptocurrencies, with easy KYC verification and 24/7 customer support. Coinstore allows users to trade more than 50 popular cryptocurrencies anytime, anywhere from the comfort of their mobile phone, the start-up said in a statement. The announcement comes at a time when the Indian government is considering banning private cryptocurrencies from the market with a few exceptions.

The Singapore-based company has allocated $ 20 million for the expansion in India and intends to spend the funds primarily on marketing, hiring talent, and developing crypto-related products and services for the market. Indian. The start-up also has 100 immediate vacancies to hire local talent in India for its customer support, marketing and operations division.

“We are really excited to have launched our app in India, with over 20% of our users active in India we have decided to start local operations to fully support our Indian users” said Jennifer Lu, Product Manager and co-founder of Coinstore. “Coinstore aims to simplify the cryptocurrency adoption process and foster a joyful trading experience, whether it’s spot or futures trading,” she added.

Coinstore said it plans to expand into India with the establishment of a local support office currently underway. The crypto platform will set up offices in Bangalore, Delhi and Mumbai which will serve as a base in India for future expansion.

The cryptocurrency exchange said it will offer a one-time copy trading feature to its Indian users, where users can follow the transactions of other successful traders to make strategic investments by trading future prices of crypto. currencies. In June of this year, Coinstore successfully launched its iOS and Android apps worldwide alongside its online trading platform to much fanfare. With a strong focus on security, Coinstore will soon be subject to a rigorous audit by Hacken, a global cybersecurity firm focused on blockchain security.

The Coinstore app is now available for download in India on Google Play and Apple Store.

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