MAM
Report on Shemaroo

Around 45% of our investors come from smaller cities: CoinSwitch Kuber's Ashish Singhal

The initial idea was to simplify crypto investments for Indian retail investors, says Singhal.

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2021/06/09/ashish_singhal.jpg?itok=GxdWwaHP

With an investment of one billion $ from over ten million Indians, the cryptocurrency sector in the country can no longer be termed a niche. As awareness about this emerging asset class increases, it’s catching the fancy of an increasing number of traditional-minded investors looking to diversify their investments, despite the industry lacking a clear regulatory framework. India has generally held a cautious approach towards use and transactions involving digital currencies, but it recently assured crypto stakeholders that there will not be any blanket ban on it. There are even indications that a new bill spelling out a regulatory framework for digital currency is on the cards.

Emerging cryptocurrency platform CoinSwitch Kuber that calls itself “Your friendly crypto app to buy, sell & store cryptos” is out to familiarise Indians with this new dimension of fintech. Founded by a team of techies from Amazon, Microsoft, and Zynga, the Bangalore-based startup claims to be the fastest-growing crypto exchange in India hitting “seven million users on the platform, within a year of its launch”. It was also the first brand in the Indian crypto space to launch an extensive campaign to bring the conversation around cryptos to the centrestage, with its ‘Trade Kar Befikar’ campaign.

IndianTelevision.com’s Anupama Sajeet spoke to CoinSwitch Kuber CEO & co-founder Ashish Singhal to understand the Indian crypto industry and the platform’s USP. Singhal shared insights on the demographic profile of the average crypto investor and how the brand plans to connect with potential users. He also discloses how their main challenge remains to educate and arm users with the right information about cryptocurrencies.

Edited excerpts:

On reaching out to potential investors

As leaders in this space, we are committed to providing investors/ potential investors with the right information about cryptocurrencies, clarifying their most common doubts, and explaining how they can safely invest in this new asset class. We recently launched a host of initiatives including video campaigns, ads on Disney+Hotstar, partnerships with OTT platforms like TVF. Along with this, we are also revamping the content on our blog KuberVerse and YouTube channel to educate our users about crypto, investing, and blockchain. We have increased the usage of infographics in our communication for easy understanding and have tried to incorporate vernacular content as well. To educate and update them, we regularly create relevant content in the form of blog posts in English and vernacular languages, visual content in the form of graphs and charts as well as videos that can help them understand the crypto world better.

On the demographic profile of the typical Indian crypto trader/ investor

To give you a sense of the user demographics, the majority of the users on CoinSwitch Kuber are between 18 and 35 years of age. But it is interesting to note that we have been witnessing a lot of traction from senior citizens and users above 45 years of age. Even people from Tier-2 and 3 towns have hitched onto the bandwagon with crypto. As much as 45 per cent of our users come from small cities.

On CoinSwitch Kuber’s USP

The primary thought behind launching CoinSwitch Kuber was to simplify crypto investments for Indian retail investors. We want to make crypto investing as easy as ordering food on Swiggy. There are many crypto exchanges in India designed to cater to traders with pro features. However, over 90 per cent of crypto buyers in India are retail investors. They just need a simple way to buy, sell and hold cryptocurrencies at the best rate and that is what we offer. That’s where we make a difference.

On the aim behind the ‘Trade Kar Befikar’ campaign

With ‘Trade Kar Befikar’, the aim was to showcase how it is a smart move to invest early in cryptocurrencies. Crypto has been the fastest-growing asset class of the last decade and the momentum is only growing stronger now. Through the ad campaign, we hoped to amplify this message to millions of young and upwardly mobile Indians. The response to it was great. The ad campaign, coupled with the simplicity of the platform, resulted in our user registrations going up by four times.

On the marketing plans for the current fiscal

We are exploring multiple avenues to attract user attention and educate them about crypto.

We would primarily focus on:

Ø Understanding users, about their needs and how their needs are evolving.

Ø Unique campaigns that would get mainstream attention, as mutual funds or stocks do.

Ø Engaging with thought leaders in the finance space.

Social media-led influencer marketing will be important for us.

On offsetting investor fears around the recent crash of Bitcoin prices

Like we always say, user education and awareness is the key. Investing in cryptocurrencies is similar to investing in any other asset class and one should invest basis their risk appetite. Volatility is natural in any emerging asset class, it is a part of market-making. Look at gold for example, and how it started.

On the uncertainty around the government policy on cryptocurrencies & the regulation

When regulated, crypto has the potential to immensely contribute to the Indian economy and we are hopeful that the regulators are taking cognizance of this fact. The need of the hour is to regulate the industry and unlock entrepreneurship and innovation in this field. We cannot afford to be left behind in a domain that will foster major innovation in the internet space in the times to come. Investors across the globe trust the Indian government and regulators to make the right decision and are therefore funding the best teams in the space.

On being future-ready & on the challenges he foresees in the Indian crypto-space

User awareness and education have been & will remain the foremost challenge for the crypto industry in India. We are working to solve this in various ways, as mentioned before. We are also looking to build on top of our current product stack by introducing several new features soon.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/06/18/interbrand.jpg?itok=-T7Dqbrh
Interbrand unveils top 30 brands set to revolutionise the US market

Mumbai: Global brand consultancy Interbrand launched its Breakthrough Brands 2021 report unveiling the top 30 brands set to take the US market by storm in the coming decade. From mobile banking developed specifically for Black and Latinx customers to secure messaging services and plant-derived...

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/06/17/car24.jpg?itok=Nh_my-Z3
CARS24 expands operations to UAE and Australia

E-commerce platform for pre-owned vehicles, CARS24 is set to disrupt the used automobile ecosystem around the globe. The company has launched its business in Australia and UAE and is gearing up to launch business in Southeast Asian and Middle East countries this year.

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/06/17/icc.jpg?itok=zMsNkvJE
ICC announces Upstox as Official Partner

The International Cricket Council (ICC) on Thursday announced a major long-term partnership with the homegrown investment platform Upstox.

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/06/17/tiger.jpg?itok=JJybLGVw
ESPL ropes in Tiger Shroff as brand ambassador for its Esports league

The Esports Players League (ESPL) has roped in Bollywood actor Tiger Shroff as the brand ambassador for its first-ever franchise-based Esports league - ESports Premier League. The inaugural edition of the league began on 16 June.

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/06/17/mpl.jpg?itok=QdlBiYsT
IOA ropes in MPL Sports Foundation as Principal Partner for Tokyo Olympics

Indian Olympic Association (IOA) on Thursday roped in MPL Sports Foundation, the community initiative of esports platform Mobile Premier League (MPL), as its principal partner for the upcoming global sports events.

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/06/17/photogrid_plus_1623925141319.jpg?itok=auZl08NX
IKEA enters Bengaluru with eCommerce & mobile shopping app

Mumbai: Swedish home furnishing retailer IKEA on Thursday announced the launch of its eCommerce services and mobile shopping app in Bengaluru. The people of Bengaluru will now be able to choose from over 8,000+ functional and sustainable home furnishing products and solutions from the furnishing...

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/06/17/photogrid_plus_1623925027045.jpg?itok=Szyi3VJW
MediaCom wins media mandate for Aqualite

Mumbai: MediaCom India, a GroupM media agency has been awarded the media mandate for Aqualite, manufacturer of men’s and women’s footwear. The mandate was bagged after a multi-agency pitch and will be serviced out of MediaCom’s Gurgaon office. The media duties include media strategy, planning,...

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/06/17/fizz-800.jpg?itok=rIgGyXyQ
PepsiCo takes Parle Agro to court over 'For the Bold' tagline

Mumbai: PepsiCo India has filed a trademark violation case against Mumbai-based beverages major Parle Agro over the use of the tagline- 'For The Bold' by the latter for the beverage B Fizz launched last year. The US beverage and packaged food company moved the Delhi high court earlier this month...

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/06/17/trade_desk.jpg?itok=xCBY3QSd
The Trade Desk Launches in India, appoints Tejinder Gill as General Manager

New Delhi: Global advertising technology firm, The Trade Desk has launched operations in India, and appointed Tejinder Gill as the company’s India general manager. Gill will lead the company’s business and growth strategy in India, helping Indian brands and publishers unleash the full potential of...

MAM Marketing MAM

Sign up for our Newsletter

subscribe for latest stories

* indicates required