Cryptocurrency trading platform CoinSwitch on Tuesday announced the launch of PeepalCo, an umbrella brand to house all its business segments, according to a statement.
PeepalCo will house brands including CoinSwitch, a soon-to-be-launched platform with newer investment classes, and a wealth-management vertical catering to high net worth individuals, the statement said.
The move is in line with the crypto company’s commentary on diversifying into a wealth-tech platform in the current financial year. Speaking to FE in April, CEO Ashish Singhal had said the new platform will house several financial services products such as fixed deposits, mutual funds and stocks trading.
Singhal will continue to be the group CEO at PeepalCo while Govind Soni will be the chief technology officer and Vimal Tiwari the COO.
“The new structure is designed to unlock the full potential of our organisation and align our resources more effectively. We will focus on capital allocation and work to make sure each business under professional management is executing its best,” Singhal said.
Leaders of each of the new business segments will have independent operational and financial accountability and Balaji Srihari will be the assuming the role of business head of CoinSwitch. The company will later announce the leadership structure for other brands, the statement said.
