CoinSwitch Publishes Sixth Proof of Reserves Report, Maintains ₹613 Crore Surplus Above Customer Holdings

Independent assessment confirms CoinSwitch holds 3X INR and 1.2X crypto assets versus customer holdings

Trust in crypto is built through transparency—and CoinSwitch continues to lead by example.

CoinSwitch, India’s largest crypto trading and investing platform with over 2.5 crore users, has published the sixth edition of its Proof of Reserves (POR) report, reaffirming its long-standing commitment to customer asset protection, liquidity discipline, and operational transparency.

The latest independently reviewed assessment confirms that CoinSwitch’s combined crypto (VDA) and INR reserves continue to exceed total customer holdings on the platform.

As of March 31, 2026, CoinSwitch held total reserves worth ₹2,360.33 crore against customer holdings of ₹1,747.25 crore, representing a reserve surplus of ₹613.08 crore.

CoinSwitch Sixth Proof of Reserves at a Glance

This reinforces a simple but important principle: customer assets remain fully backed and accessible at all times.

Strong Crypto Backing Across Customer Holdings

CoinSwitch’s latest disclosure confirms that the platform continues to maintain crypto reserves above customer holdings.

• Customer crypto holdings: ₹1,673.41 crore
• CoinSwitch crypto reserves: ₹2,140.58 crore

This translates to a 1.28x reserve coverage ratio, demonstrating a strong buffer beyond the industry-standard 1:1 reserve model.

Nearly 3X INR Coverage for Customer Balances

The report also highlights CoinSwitch’s strong fiat liquidity position.

• Customer INR holdings: ₹73.83 crore
• CoinSwitch INR reserves: ₹219.75 crore

This represents a 2.97x INR coverage ratio, ensuring users can access and withdraw their fiat balances whenever needed.

Customer Confidence Continues to Strengthen

Despite market volatility over the past year, CoinSwitch reported a 12.44% increase in the quantity of customer-held crypto assets compared to the previous Proof of Reserves report.

This growth reflects:

• continued investor trust,
• strong customer retention,
• and growing confidence in India’s digital asset ecosystem.

Leadership Perspective

Commenting on the sixth Proof of Reserves, Ashish Singhal, Co-founder, CoinSwitch, said:

“Trust in crypto is not declared—it is demonstrated through consistent transparency and disciplined risk management.”

He added:

“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. While market movements impacted overall valuations during the year, the quantity of customer assets held on the platform grew 12.44% versus the previous Proof of Reserves assessment, reflecting continued investor confidence and retention.”

Key Highlights from the Sixth POR

The independently reviewed assessment confirms:

• CoinSwitch maintains ₹2,360.33 crore in total reserves against ₹1,747.25 crore in customer holdings.
• Crypto reserves stand at ₹2,140.58 crore against customer crypto holdings of ₹1,673.41 crore.
• INR reserves of ₹219.75 crore back customer fiat balances of ₹73.83 crore.
• Bitcoin (BTC) remains the largest asset held on the platform, accounting for 40.62% of total VDA holdings.
• Ethereum (ETH) follows at 10.38%.

The review was conducted under the standards prescribed by the Institute of Chartered Accountants of India (SRS 4400).

Continuing India’s Transparency Benchmark

CoinSwitch pioneered Proof of Reserves disclosures in India, setting a new benchmark for transparency in the country’s crypto ecosystem.

As part of this initiative, CoinSwitch continues to publicly share wallet addresses, enabling users to independently verify on-chain holdings through blockchain explorers.

This commitment ensures transparency is not just promised—but verifiable.

About CoinSwitch

Founded in 2017, CoinSwitch is India’s largest crypto investing and trading platform and a pioneer in shaping the country’s digital asset ecosystem.

With over 2.5 crore+ users, CoinSwitch offers access to 450+ cryptocurrencies and is backed by global investors including Coinbase Ventures, Tiger Global, and Sequoia Capital India, with total funding of $300 million.

CoinSwitch is:

• FIU-India registered
• ISO/IEC 27001:2022 certified
• built on a foundation of security, compliance, and trust.

As India’s crypto ecosystem evolves, CoinSwitch’s sixth Proof of Reserves once again reinforces a clear promise:

customer assets remain fully backed, secure, and always accessible.

List Of Crypto Wallets

The addresses of our major wallets are provided below

Downloads

You can download past editions of our proof of reserves below.

Proof of Reserves (Fifth Edition – PDF)

Proof of Reserves (Fourth Edition – PDF)

Proof of Reserves (Third Edition)

Proof of Reserves (Second Edition)

Proof of Reserves (First Edition)