Question
Which of the following firm has launched India’s
first benchmark index to measure the performance of Indian Rupee-based crypto market?Solution
Crypto company CoinSwitch launched India’s first benchmark index to measure the performance of Indian Rupee-based crypto market. Crypto Rupee Index (CRE8) tracks eight crypto assets representing over 85 per cent of the total market capitalisation of digital assets traded in the Indian Rupee. The index is based on real trades on the CoinSwitch app that has 18 million registered users. CoinSwitch: Founded in 2017 as a single window to purchase crypto from global exchanges, CoinSwitch expanded to INR-Crypto trading in June 2020. The firm said it is providing millions of Indians with a simple, safe, and secure platform to participate in the Crypto revolution. CoinSwitch is valued at $1.9 billion.
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