{"id":21402,"date":"2025-05-07T12:04:46","date_gmt":"2025-05-07T06:34:46","guid":{"rendered":"https:\/\/coinswitch.co\/building-blocks\/?p=21402"},"modified":"2025-11-12T12:33:14","modified_gmt":"2025-11-12T07:03:14","slug":"coinswitch-publishes-fifth-edition-of-proof-of-reserves","status":"publish","type":"post","link":"https:\/\/coinswitch.co\/building-blocks\/coinswitch-publishes-fifth-edition-of-proof-of-reserves\/","title":{"rendered":"CoinSwitch Publishes Fifth Edition of Proof of Reserves"},"content":{"rendered":"

CoinSwitch, India’s largest crypto platform with over 2 crore users, continues its commitment to transparency and trust-building by publishing the fifth edition of its Proof of Reserves (POR). The latest review confirms that CoinSwitch holds sufficient cryptos and INR balances to cover all user redemptions, maintaining a ratio of 1:1 or higher.<\/span><\/p>\n

The independent verification of CoinSwitch\u2019s crypto and INR holdings was conducted by a qualified chartered accountancy firm as per the standards prescribed by the Institute of Chartered Accountants of India (SRS 4400). The POR review covered two CoinSwitch entities: Bitcipher Labs LLP and Nextgendev Solutions Private Limited. The review was carried out for the status of cryptos and INR held as on March 31, 2025.<\/span><\/p>\n

Key Findings<\/b><\/h2>\n

CoinSwitch\u2019s total holdings are greater than its users\u2019 holdings (numbers as on March 31, 2025, 24:00 hrs IST):<\/span><\/p>\n