Bangalore
CoinSwitch, a crypto investment app, on Thursday unveiled the Crypto Rupee Index (CRE8), the country’s first benchmark index to measure the performance of the Indian Rupee-based crypto market.
According to the company, CRE8 is able to track the performance of eight crypto assets, representing over 85% of the total market capitalization of cryptos traded in Indian Rupees.
The company said the index will be based on actual transactions made by the 18 million registered users of the CoinSwitch app and will be refreshed more than 1,400 times a day to ensure real-time market movement.
Ashish Singhal, Co-Founder and CEO of CoinSwitch, said, “CRE8 is a demonstration of our commitment to bringing greater transparency to the crypto market and equipping users with a simple, easy-to-understand solution to the Indian market.”
“The index will provide a reliable, real-time view of the Indian Rupee-denominated crypto market based on actual trades, enabling Indian users to make informed investment decisions,” he said.