Tuesday, July 23, 2024

CoinDCX Unveils Prime for HNIs, Targets $100M in AUM by 2025

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Indian crypto exchange CoinDCX has introduced a new service called CoinDCX Prime, specifically designed for HNIs (High-Net-Worth Individuals), Family Offices, and Institutional Investors. This launch is in response to a significant increase in interest from these groups in the Indian crypto market.

What CoinDCX Prime Offers

CoinDCX Prime aims to provide personalized investment solutions and dedicated key account managers to cater to the unique needs of these investors. It is targeted at those with a minimum investment volume of Rs 50 lakh, offering several exclusive benefits:

  • Personalized onboarding and support from dedicated key account managers.
  • Access to expert tax and legal professionals specializing in crypto.
  • The lowest trading fees and no additional charges for asset custody or holding gains.
  • Exclusive access to yield-generating opportunities through structured products and strategies via the Advanced Earn product.
  • Enhanced investment experience through trading fee discounts under the VIP program and large order executions via the OTC desk.

Growing Interest from HNIs

The decision to launch CoinDCX Prime was influenced by a surge in participation from HNIs and institutions in the crypto market. Minal Thukral, Head of Strategy and Growth at CoinDCX, mentioned, “Over 1.5 crore Indian investors trust CoinDCX for their crypto journey. We are glad to witness the same level of trust and interest from HNIs. We’ve onboarded over 100 institutional investors, 2,500+ HNI clients, and serve over 25 family offices already. There is significant demand from this category of investors, which is why we are launching Prime Services. These investors seek long-term value and require specialized services.”

CoinDCX Prime Brand logo

A 2022 Bain study indicated that a significant number of high-net-worth individuals globally plan to increase their investments in alternative assets like crypto.

Ensuring Compliance and Trust

CoinDCX emphasizes compliance and trust. It was the first exchange in India to register as a Financial Intelligence Unit India (FIU IND) entity and adheres strictly to KYC and AML guidelines. This compliance-first approach has been crucial in building trust among over 1.5 crore retail customers and is expected to attract more HNIs, family offices, and institutional investors. Minal Thukral added, “At CoinDCX, we always have a compliance-first approach. We have already won the trust of more than 1.5 crore retail customers. I believe this will play an important role in onboarding HNIs, family offices, and institutional investors as well.”

Aiming for $100M in AUM

CoinDCX plans to launch CoinDCX Prime by 2025 and aims to reach $100 million in Assets Under Management (AUM). The company has invested in innovative Web3 projects and aims to democratize investments in virtual digital assets. It is backed by notable investors such as Pantera, Steadview Capital, Kingsway, Polychain Capital, B Capital Group, Bain Capital Ventures, Cadenza, Draper Dragon, Republic, Kindred, and Coinbase Ventures.

CoinDCX Prime represents a significant step in catering to the growing demand for specialized crypto investment services among HNIs and institutional investors in India.

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