In a major move for financial transparency and regulatory compliance within India’s digital asset ecosystem, CoinSwitch, India’s largest crypto trading and investing platform with over 2.5 crore users, has officially published the sixth edition of its Proof of Reserves (POR).
The independently reviewed assessment reinforces the company's long-standing commitment to liquidity discipline, open transparency, and customer asset protection. This disclosure arrives at a time when Indian crypto market participants and global regulators alike are demanding absolute clarity on how digital asset exchanges safeguard client capital and manage internal risk protocols during volatile market cycles.
Substantial Reserve Surplus: Ensuring 1:1 Plus Asset Backing
The comprehensive independent review, which was conducted in accordance with the standards prescribed by the Institute of Chartered Accountants of India (SRS 4400) as of March 31, 2026, confirms a healthy surplus across all custodial balances. CoinSwitch's combined Virtual Digital Assets (VDA) and Indian Rupee (INR) reserves continue to substantially exceed total customer holdings on the platform year after year.
COINSWITCH PROOF OF RESERVES (POR) METRICS
Financial Category | Status as of March 31, 2026
Total Crypto & Fiat | ₹2,360.33 Crore total company reserves held
Total User Holdings | ₹1,747.25 Crore aggregate customer liabilities
Total Net Surplus | ₹613.08 Crore buffer above customer assets
INR Fiat Coverage | 2.97x total backing (₹219.75 Cr backing vs ₹73.83 Cr)
Largest VDA Holding | Bitcoin (BTC) representing 40.62% of crypto reserves
The data-driven breakdown verifies that CoinSwitch not only maintains a strict 1:1 reserve ratio, but consistently holds values well higher than customer crypto and INR balances. This operational cushion ensures that Indian crypto investors retain full, unhindered access to withdraw both their fiat and digital assets at any given second.
Unpacking the Financial Metrics: Strong Fiat and Crypto Reserves
A deep dive into the financial ledger highlights CoinSwitch’s exceptionally liquid position, particularly regarding domestic fiat currencies.
Total Financial Reserves: CoinSwitch held total reserves worth ₹2,360.33 crore against total customer holdings of ₹1,747.25 crore. This translates to a massive total reserve surplus of ₹613.08 crore.
Crypto Specific Backing: The platform's total crypto reserves stand firmly at ₹2,140.58 crore against total customer crypto liabilities of ₹1,673.41 crore.
Unrivaled Fiat Liquidity: Total user INR balances of ₹73.83 crore are backed by ₹219.75 crore held across designated banking and payment partner accounts. This creates a 2.97x fiat coverage ratio, safeguarding platform withdrawals.
VDA Asset Distribution: Bitcoin (BTC) continues to remain the largest single digital asset held on the trading platform, accounting for 40.62% of the total VDA portfolio. Ethereum (ETH) represents the second-largest holding at 10.38%.
Rising Customer Asset Quantities and On-Chain Verification
While broader market movements heavily impacted overall asset valuations over the past year, underlying investor engagement in India remains robust. The quantity of customer assets held on the CoinSwitch platform grew by 12.44% compared to the previous Proof of Reserves assessment period. This double-digit growth highlights a high rate of customer retention and growing investor confidence within the Indian Web3 sector.
To take transparency beyond a simple corporate announcement, CoinSwitch continues to pioneer the public sharing of its wallet addresses. This open-source philosophy enables tech-savvy users and independent auditors to cross-verify the platform's active on-chain holdings at any moment using public blockchain explorers.
“Trust in crypto is not declared, it is demonstrated through consistent transparency and disciplined risk management,” said Ashish Singhal, Co-founder of CoinSwitch. “As global standards evolve, users are demanding greater clarity on how platforms safeguard assets and manage liquidity, especially during volatile market conditions. With our sixth Proof of Reserves disclosure, we continue to reinforce a simple principle: customer assets are fully backed and reserves remain well above user holdings.”
Strategic Significance for India's Evolving Web3 Landscape
As India continues to refine its domestic regulatory approach toward Virtual Digital Assets, financial reports like the POR help build a healthy investment culture. By demonstrating independent compliance under strict auditing frameworks (SRS 4400), the exchange sets a clear standard for consumer protection within India's digital economy.
Proactive Compliance Culture: Maintaining higher reserve buffers shields everyday retail investors from market shocks and liquidity squeezes.
Ecosystem Trust: Publicly accessible wallet architectures ensure the exchange can be independently held accountable by its community.
Volume Expansion: The 12.44% increase in total asset volume held highlights a resilient long-term investor base in India.
About CoinSwitch
Founded in 2017, CoinSwitch is India's largest crypto investing and trading platform and a recognized pioneer in shaping the country’s crypto ecosystem. Catering to over 2.5 crore users, CoinSwitch operates a regulatory-compliant platform designed to simplify and enhance crypto trading for both retail investors and advanced professional traders.
The platform is backed by premier global venture capital firms—including Coinbase Ventures, Tiger Global, and Sequoia Capital India—who have funded the company to the tune of $300 million.
As a prominent PeepalCo brand product, CoinSwitch offers users access to more than 450+ distinct coins. The platform is fully ISO/IEC 27001:2022 certified and officially registered with the Financial Intelligence Unit - India (FIU-IND), ensuring the highest standards of data security, institutional oversight, and operational compliance within the Indian market. For additional details or to review the full financial breakdown, visit the official CoinSwitch Report Page.
