New Delhi: India’s largest crypto exchange CoinSwitch Kuber on Friday announced that it has roped in Bollywood actor Ranveer Singh as its first brand ambassador. The actor starred for CoinSwitch’s ongoing ‘Kuch Toh Badalega’ (Something Will Change) campaign.
Ashish Singhal, Founder and CEO, CoinSwitch Kuber said, “We are extremely proud to announce Ranveer Singh as our brand ambassador! India’s crypto journey is not only simple, but entertaining as well.”
I probably shouldn’t be a fan in public, but I’m forgiving myself this time.
We are extremely proud to announce @ranveer official As our brand ambassador! The crypto journey to India is not only simple but also very entertaining.
— ashish singal (coinswitch kuber) (@ashish343) 8 October 2021
Commenting on the announcement, Mr. Singh said, “It is a pleasure to have Coinswitch Kuber, India’s largest crypto asset platform as the brand ambassador.”
A few days ago crypto exchanges reached unicorn status in a funding round led by Andreessen Horowitz and Coinbase Ventures, with investors betting on rising demand, even as the industry faces regulatory uncertainties.
CoinSwitch said it has raised $260 million at a valuation of $1.9 billion. The funding marked Andreessen Horowitz’s first investment in an Indian startup, and existing backers including Sequoia Capital, Tiger Global Management and Ribbit Capital also participated.
The Bangalore-based startup has become India’s largest and most valuable cryptocurrency platform, amassing over 10 million customers in just 14 months of operation. Investors are betting on continued growth despite the scrutiny of buying and selling bitcoin, ethereum and other coins.
Founded in 2017, CoinSwitch was launched as a global aggregator of crypto exchanges.
CoinSwitch plans to use the capital to grow its user base to 50 million, introduce new crypto products such as lending to retail investors, and grow its technology workforce. It also wants to tap institutional clients and set up an ecosystem fund.
Currently, the cryptocurrency is an unregulated digital currency and is not legal tender in India.
(Disclaimer: Coinswitch is an advertiser on the NB network)