Indian Crypto Exchange CoinSwitch Kuber Launches the First Rupee-Based Index

  • Indian crypto exchange CoinSwitch Kuber, backed by Andreessen Horowitz (a16z), announced the launch of an index that tracks the performance of crypto assets based on the Indian rupee rather than the US dollar.
  • As one of the largest exchanges in the country, CoinSwitch Kuber said it has 18 million registered users on its trading app, and they can directly access the new product.
  • In October 2021, the exchange raised $260 million from renowned VCs, including Andreessen Horowitz (a16z), Coinbase Ventures, Tiger Global, and Sequoia Capital, reaching a valuation of $1.9 billion.