According to the Economic Times, India’s crypto exchange CoinSwitch Kuber unveiled the Crypto Rupee Index (CRE8) earlier this week, the first benchmark index to assess the success of the Indian rupee-based crypto sector.
“Owned and administered by CoinSwitch, CRE8 tracks the performance of eight crypto assets that represent over 85 per cent of the total market capitalization of cryptos traded in Indian rupee. The index is based on real trades on the CoinSwitch app, trusted by 18 million registered users” the company told ET.
The index provides a real-time view of the Indian crypto industry based on CoinSwitch Kuber transactions
It is updated over 1,400 times every day.
“CRE8 is a demonstration of our commitment to bring more transparency to the crypto market and equip users with a simple, easy-to-understand measure of the Indian market” CoinSwitch Kuber CEO Ashish Singhal said.
Andreessen Horowitz (a16z), Coinbase Ventures, Tiger Global, Sequoia Capital, Ribbit Capital, and Paradigm are among the investors of CoinSwitch Kuber, which was founded in 2017. The corporation has a market capitalization of $1.9 billion.
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