Cryptocurrency platform CoinSwitch has unveiled PeepalCo, a new umbrella brand to house all its business segments, as it plans to expand into a wealth-tech platform.
PeepalCo will house CoinSwitch, the crypto retail app, and CoinSwitch PRO, the advanced trading platform, soon-to-be-launched platform with newer investment classes and wealth-management division catering to high net worth Individuals (HNIs).
The restructuring will enable each of these businesses to stay nimble and innovate while adhering to the highest compliance and regulatory standards. Ashish Singhal, Co-founder and Group CEO, Govind Soni, Co-founder and Group CTO, and Vimal Sagar Tiwari, Co-founder and Group COO, PeepalCo, will guide the various initiatives by the group and will have a professional management to lead and operate each of the initiatives, said the company.
Ashish Singhal, Co-Founder and Group CEO, PeepalCo group said, “The new structure is designed to unlock the full potential of our organisation and align our resources more effectively. We will focus on capital allocation and work to make sure each business under professional management is executing to its best. PeepalCo will guide us in the journey forward, to democratise wealth-creation for India.”
The leaders of each business segment will have independent operational and financial accountability. With the effect of this restructuring, CoinSwitch will be under the leadership of Balaji Srihari who will be assuming the role of Business Head in CoinSwitch.
The unicorn is backed by multiple investors including Andreessen Horowitz (a16z), Tiger Global, Peak XV Partners (was Sequoia Capital India), Ribbit Capital, Paradigm and Coinbase Ventures.