CoinDCX Unveils CoinDCX Prime To Offer Personalised Investment For HNIs, Aims $100 Mn AUM By 2025

Homegrown cryptocurrency exchange CoinDCX has rolled out a new suite of services specifically designed for high net worth individuals, family offices and institutional investors.

This move by the company is followed by a significant rise in participation of HNIs and institutional investors in the Indian crypto market.

With its new initiative, CoinDCX Prime, the company aims to reach $100 Mn in assets under management (AUM) by 2025.

CoinDCX Prime will offer a personalised investment experience for HNIs, family offices and institutional investors with a minimum investment portfolio of INR 50 Lakh.

The programme will also enhance existing services such as VIP trading fee discounts and OTC desk order execution, the company said in a statement.

Besides, the Prime members can also enjoy benefits such as low trading fees and no additional charges on asset custody or holding gains, unlike traditional advisor networks.

“There is significant demand from this category of investors, which is why we are launching Prime Services. CoinDCX will cater to their needs with personalised support, exclusive research, customised newsletters, and priority access to new offerings, creating a superior investment experience,” said Minal Thukral, head of strategy and growth.

This comes a month after CoinDCX announced plans to launch an in-house blockchain and token to boost DeFi adoption in India. The blockchain, called ‘Okto Chain,’ will enable developers to integrate Web3 functionalities into their apps.

Founded by Sumit Gupta and Neeraj Khandelwal in 2018, CoinDCX claims to have a user base of over 1.4 crore. It offers easy access to Web3 experiences and democratise investments in virtual digital assets with user safety and security.

CoinDCX became the country’s first crypto unicorn in 2021 after raising $90 Mn in Series C from Facebook cofounder Eduardo Saverin’s B Capital Group, Coinbase Ventures, and others. 

CoinDCX counts Pantera, Steadview Capital, Kingsway, Polychain Capital, B Capital Group, Bain Capital Ventures, Cadenza, Draper Dragon, Republic, Kindred, and Coinbase Ventures among its investors.

The development also comes as the crypto sector faces regulatory clampdowns and heavy taxation. Amid this regulatory turbulence, several players are diversifying beyond crypto exchanges, while others have shut down. 

In March 2024, crypto trading platform OKX ceased operations in India due to regulatory uncertainty, following exits by Pillow, Flint, and WeTrade.

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