news 
CoinSwitch Launches Web3 Coins With Access to 100K Tokens Using INR
India’s largest crypto exchange, CoinSwitch, has recently rolled out a new feature called Web3 Coins. This innovative move grants its over 20 million users access to more than 100,000 tokens directly in Indian Rupees (INR). The newly launched Web3 Coins is designed to simplify decentralized trading for everyday Indians by eliminating the need for wallets, swaps, or gas fees.
Speaking on this development, Balaji Srihari, Vice President at CoinSwitch, emphasized that their aim is to deliver crypto opportunities without complexity. He further stated that they are committed to expanding accessibility and making it easier for users to trade tokens directly in INR.
The Web3 Coins feature allows users to explore emerging assets like meme coins, governance tokens, and stablecoins, which are typically accessible only on decentralized exchanges (DEXs). The CoinSwitch platform has reported a significant surge in the number of new token listings. According to their data, 34% of its users have traded new tokens over the past six months.
In addition to the ease of trading, the Web3 Coins feature comes with an enhanced safety mechanism known as TRACE. This five-step process involves checks on tokenomics, smart contract audits, community and social information exchange & liquidity metrics, and risk scans. The primary objective behind this safety measure is to guarantee a high level of trust and security for traders.
CoinSwitch’s latest move has significant implications for the Indian crypto market. It has sparked hope among industry experts that India will soon become a major player in the global digital finance sector.
Source: cryptotale.org
