Cryptocurrency platform CoinSwitch has revealed its strategic move to introduce PeepalCo, a comprehensive umbrella brand designed to house all its diverse business segments. The expansion plan includes a foray into the wealth-tech domain, with PeepalCo set to accommodate CoinSwitch, the popular crypto retail app, and CoinSwitch PRO, the advanced trading platform. The latter is slated to feature newer investment classes and a wealth-management division tailored for high net worth Individuals (HNIs).
This restructuring initiative is envisioned to empower each business segment within PeepalCo, fostering agility and innovation while upholding the highest compliance and regulatory standards. Co-founders and leaders Ashish Singhal, Group CEO, Govind Soni, Group CTO, and Vimal Sagar Tiwari, Group COO, will steer the various initiatives. The company emphasizes the presence of professional management for each venture, ensuring efficient operation and leadership.
Ashish Singhal, Co-Founder, and Group CEO of PeepalCo group stated, “The new structure is designed to unlock the full potential of our organization and align our resources more effectively. We will focus on capital allocation and work to make sure each business under professional management is executing to its best. PeepalCo will guide us in the journey forward, to democratize wealth-creation for India.”
Under the revamped structure, leaders of individual business segments will assume independent operational and financial accountability. Balaji Srihari is set to take the reins as Business Head for CoinSwitch as a result of this restructuring.
CoinSwitch, a unicorn in the cryptocurrency realm, boasts backing from a diverse group of investors, including prominent names such as Andreessen Horowitz (a16z), Tiger Global, Peak XV Partners (formerly Sequoia Capital India), Ribbit Capital, Paradigm, and Coinbase Ventures. The move to consolidate its offerings under PeepalCo reflects a strategic shift for CoinSwitch, positioning the platform to explore new frontiers in the evolving landscape of cryptocurrency and wealth technology.
