CoinSwitch is launching Web3 Coins. It will allow users to trade emerging crypto tokens in INR. This eliminates complexities like wallets and network fees. The launch occurs amid rising interest in early-stage tokens. CoinSwitch expects 25% of its user base to explore Web3 Coins. Web3 Coins allows access to eligible tokens within 24 hours of launch.Cryptocurrency exchange CoinSwitch is introducing Web3 Coins, an offering which allows users to trade over 1 lakh emerging crypto tokens directly in INR — without the usual complexities of wallets, token swaps, or network fees.
The launch comes amid rising investor interest in early-stage tokens such as meme coins, utility tokens, governance tokens, and stablecoins. Over 34% of CoinSwitch’s active users have engaged with new tokens in the last six months, and the company expects at least 25% of its user base — currently over 2 crore — to explore Web3 Coins, Ashish Singhal, co-founder, Peepal Co, the holding company of Coinswitch told ET.
“Today, 99.9% of Indian users are unable to access decentralised tokens due to the technical complexity. Web3 Coins brings the simplicity of buying Bitcoin on CoinSwitch to thousands of new tokens,” he said.
Decentralised tokens such as Lido, Uniswap, Jupiter, PancakeSwap are fast growing and today hold a market cap of nearly $11.83 billion, according to crypto data platform CoinGecko. Globally, decentralised exchanges account for nearly 200 million unique trading addresses.
These are different from centralised tokens such as Bitcoin, Ethereum, Solana which are listed and managed by centralised crypto exchanges like Binance, or Coinbase. These platforms control which tokens get listed, provide customer support, and manage custody.
But decentralised tokens can be created by anyone leading to faster innovation but also higher risks.
Web3 Coins by CoinSwitch bridges these two worlds.
Unlike traditional centralised exchanges, which take weeks or months to list new tokens, Web3 Coins allows users to access eligible tokens within 24 hours of their launch — giving investors an early advantage in discovering high-potential crypto assets, Singhal explained. For instance, while a popular meme coin like Shiba Inu became widely available months after launch, early adopters trading via decentralised exchanges had already seen significant gains.
Founded in 2017, CoinSwitch is has raised $300 million from global investors such as Coinbase Ventures, Tiger Global, and Sequoia Capital India. In the last 7-8 months, CoinSwitch has seen a 50% jump in organic signups.
Although trading volumes are lower than the 2021 peak, Singhal said 2025 is shaping up to be one of the company’s strongest years in terms of investor participation, Singhal said.
