- CoinSwitch enables INR-based access to over 100,000 tokens with its new Web3 Coins launch.
- Web3 Coins allow trading meme coins and stablecoins without wallets or network fees.
- BJP proposes a Bitcoin reserve pilot to strengthen India’s economic and digital outlook.
CoinSwitch, India’s biggest crypto exchange, has rolled out a new feature called Web3 Coins. This update provides over 20 million users access to more than 100,000 tokens, all tradable directly in Indian Rupees. By removing the need for wallets, swaps, or gas fees, CoinSwitch is making decentralised crypto trading simpler and more accessible for everyday users across India.
The latest feature offers access to emerging assets, including meme coins, governance tokens, and stablecoins. These tokens are usually only available on decentralised exchanges. Now, Indian users can easily trade them.
Balaji Srihari, Vice President at CoinSwitch, said the launch aims to deliver crypto opportunities without complexity. The company wants to simplify trading for all users. This is part of their ongoing push to expand access.
With Web3 Coins, we are delivering on our promise to make cutting-edge crypto opportunities accessible to everyday investors minus the complexity.
DEX Growth Surges, CoinSwitch Builds Safer Access
Decentralised exchanges have grown rapidly worldwide. According to data from Dune Analytics, DEX platforms have seen over $2.69 trillion in volume in the last 12 months. There are around 210 million unique trading addresses globally.
Yet despite this growth, many retail users still find DEXs complex due to factors like wallet setup, gas fees, and the lack of fiat integration. CoinSwitch’s Web3 Coins feature aims to bridge this gap by simplifying access to decentralised assets.
CoinSwitch reports that 34% of its users traded new tokens in the last six months. To manage risks, CoinSwitch uses a five-step screening tool called TRACE. The TRACE process includes checks on tokenomics, smart contract audits, community & social information
exchange & liquidity metrics, and risk scans. These checks are designed to protect users and ensure the quality of the token.
Srihari stated that the platform focuses on responsible expansion. He emphasised that safety is critical for new users. TRACE ensures only selected tokens are listed. This provides a layer of trust and security for traders.
India Eyes Bitcoin Reserve as Policy Shift Looms
Alongside the CoinSwitch launch, a significant political development is underway. Pradeep Bhandari, a spokesperson for the ruling Bharatiya Janata Party (BJP), has proposed a Bitcoin reserve pilot. He suggested that India could test using Bitcoin as part of its economic reserves.
Bhandari stated India is at a key turning point. A pilot program, he argued, could build economic resilience. It could also align India with global financial trends. He pointed to the U.S. move toward Bitcoin reserves as a precedent. Bhandari also highlighted Bhutan’s use of renewable energy for crypto mining. He said India could follow a similar model using its resources.
Related: India Eyes Strategic Use of Bitcoin After US Reserve Move
He has also urged the establishment of a national regulatory framework for cryptocurrencies. India taxes cryptocurrencies now, but has not yet established proper usage regulations. According to him, this places the nation in a trailing position in relation to the U.S, Russia, and Brazil.
A defined regulatory system would help protect users and attract investment. It would also support India’s ambitions to lead in the field of financial technology. Bhandari said policy should move with innovation, not behind it.
Backing up his argument, he referred to the recent move by the International Monetary Fund to categorize Bitcoin as a capital asset. This categorization gives credibility to the digital currency. He opined that India must have a definite course of action for this global transition.
Indian developments in crypto, including the launch of a new product by CoinSwitch and the suggestion of a reserve by the BJP, indicate a shift in the industry’s atmosphere. These moves could help transform India into a significant player in the global digital finance industry.
