CoinSwitch has launched INR-based crypto Futures for direct trading in Indian Rupees. This move removes the necessity for USDT conversion, making trading more accessible to Indian investors. Key features include real-time price tracking and simplified displays of trading metrics in INR. CoinSwitch aims to enhance the trading experience for its growing user base.
CoinSwitch has made a significant move by launching INR-based crypto Futures, allowing users to trade directly in Indian Rupees. This approach eliminates the need for conversion to USDT, which is often used in global markets. The idea is to simplify trading, making it more user-friendly and aligned with the preferences of Indian investors. This shift responds to user feedback that highlighted a preference for trading in the domestic currency, making it more relatable to local traders.
With this new offering, CoinSwitch incorporates features like real-time price mapping. Users can now view INR pairings on the contract list, including percentage changes that allow for easier tracking of price movements. The platform displays positions based on the selected currency and provides an easy toggle option for switching between USDT and INR. Key metrics like unrealised profit and loss, liquidation prices, and related fees are visible in INR, promoting quicker assessments of trading performance for users.
Balaji Srihari, VP at CoinSwitch, commented on the significance of this launch. He pointed out that India is among the fastest-growing cryptocurrency markets, thus needing solutions that cater to its unique user needs. “By introducing INR-based crypto Futures, we’re working on creating a platform that’s genuinely suited for Indian users, removing barriers and making advanced trading tools accessible,” he stated.
CoinSwitch, which started in 2017, boasts a user base of over 20 million. The platform adheres to regulatory standards and counts major global firms like Coinbase Ventures, Sequoia Capital India, and Tiger Global among its backers. The rollout of these INR-based Futures is part of a larger strategy to improve the trading experience for India’s expanding digital asset community.
