Coinswitch, a crypto-exchange in India is now pivoting to wealth management:
> We have seven new non-crypto products in our 2023 roster, which includes fixed deposits, ETFs [exchange-traded funds], mutual funds, stocks, bonds and U.S. equities.
> The goal is to be the one-stop wealth-tech destination for every Indian. As we diversify into other asset classes, there are different business models we are experimenting with to check which is the best for customers. There are multiple partnerships in place since we are launching such large-scale assets onto our platform. [Editor’s note: CoinSwitch declined to give the names of partners or detail on licenses obtained to sell non-crypto products.]
> We started off with a mission to make money equal for all. Crypto was the starting point for us but we will continue to innovate towards being a wealth tech platform. We see crypto as an investment class that is offered alongside other assets, to help users build a diversified portfolio.
What would be an example of a new product that will help the company thrive?