New Delhi: India’s largest crypto exchange CoinSwitch Kuber on Friday announced that it has roped in Bollywood actor Ranveer Singh as its first brand ambassador. The actor featured for CoinSwitch’s ongoing ‘Kuch Toh Badlega’ (something will change) campaign.
“We’re immensely proud to announce Ranveer Singh as our brand ambassador! India’s Crypto journey is not just simpler, but a whole lot entertaining too,” CoinSwitch Kuber Founder and Chief Executive Officer Ashish Singhal said.
I probably shouldn’t be a fanboy in public, but I’m excusing myself this time.
We’re immensely proud to announce @RanveerOfficial as our brand ambassador! India’s Crypto journey is not just simpler, but a whole lot entertaining too.
— Ashish Singhal (CoinSwitch Kuber) (@ashish343) October 8, 2021
Commenting on the announcement, Mr Singh said, “Glad to come onboard as the brand ambassador of CoinSwitch Kuber, India’s largest crypto asset platform.”
A couple of days back the crypto exchange had reached unicorn status in a funding round led by Andreessen Horowitz and Coinbase Ventures, with investors betting on rising demand even as the industry faces regulatory uncertainties.
CoinSwitch said it had raised $260 million at a valuation of $1.9 billion. The funding marked Andreessen Horowitz’s first investment in an Indian startup and existing backers including Sequoia Capital, Tiger Global Management and Ribbit Capital also participated.
The Bangalore-based startup has become India’s largest and most valuable cryptocurrency platform with more than 10 million customers amassed in just 14 months of operations. Investors are betting on continued growth even as authorities scrutinize buying and selling of Bitcoin, Ethereum and other coins.
Founded in 2017, CoinSwitch was launched as a global aggregator of crypto exchanges.
CoinSwitch plans to use the capital to grow its user base to 50 million, introduce new crypto products such as lending for retail investors and ramp up its technology workforce. It also wants to tap institutional clients and set up an ecosystem fund.
Currently, cryptocurrency is an unregulated digital currency and not a legal tender in India.
(Disclaimer: Coinswitch is an advertiser on the NDTV Network)