Indian crypto exchange platform CoinSwitch Kuber has expanded the assets it supports, adding five new offerings for investors. The five new crypto assets listed on the Indian crypto exchange are Decentraland (MANA), Gala (GALA), Request (REQ), Coti (COTI), and The Sandbox (SAND). Out of the newly introduced cryptocurrencies, MANA, GALA, and SAND are crypto tokens born out of online games that are now also entering into the 3D iteration of the Internet, also known as the metaverse.
The exchange that launched in 2020, now offers a total of over 80 crypto assets on its platform including Bitcoin, Ether, and Dogecoin among others.
With the addition of these five new assets, the exchange has also extended its education initiatives like the Kuberverse that aims to keep investors informed.
Commenting on the new additions, CoinSwitch Kuber Founder and CEO Ashish Singhal told Gadgets 360, “In our continued efforts to make money equal for all, we have just finished adding five new assets following rigorous scrutinisation. As crypto adoption continues to grow in India, our education initiatives, including Kuberverse, aim to help Crypto enthusiasts make an informed investment decision. We urge investors to do their own research from verified sources before investing.”
MANA, an ERC-20 token used to pay for NFTs, exclusive names, avatars, wearables in the Decentraland metaverse has grown by 540 percent since September. Each of the MANA token is currently trading at $3.25 (roughly Rs. 245) as per CoinMarketCap.
Similarly, game-based crypto tokens SAND and GALA have also grown in recent times, trading at $5 (roughly Rs. 383) and $0.4397 (roughly Rs. 33) respectively.
On the other hand, REQ and COTI are niche crypto assets, used in secure payment scenarios.
At a time India is mulling over ways to regulate the crypto space, the country is housing the largest number of crypto investors in the world.
Several studies from research firms like Watcher Guru, and BrokerChoose have revealed that India has around 100 million crypto investors.
Presently, India’s crypto bill has not reached the Indian parliament during its winter session. The government is reportedly studying the crypto regulatory measures being considered by other nations.
Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.