Share this article
Indian Exchange CoinSwitch Kuber Unveils Crypto Rupee Index
The Crypto Rupee Index (CRE8) will track the performance of the eight biggest crypto assets denominated in Indian rupees instead of the U.S. dollar.
By Amitoj Singh
Updated May 11, 2023, 3:36 p.m. Published Jun 2, 2022, 10:53 a.m.
CoinSwitch Kuber, one of India's most prominent crypto exchanges, has started an index denominated in Indian rupees that will give real-time information on the performance of the eight largest cryptocurrencies by market capitalization.
- The Crypto Rupee Index (CRE8) is a first in the Indian market, which has previously had to "rely on the international indices based on the US Dollar," tweeted CEO and co-founder of CoinSwitch Kuber Ashish Singhal. "But these indices do not give the true picture of the Indian market and miss the supply-demand dynamics of India’s growing investor base," he added.
- The company says CRE8 will be refreshed over 1,400 times a day to ensure reflection of real-time market movement and that it tracks the performance of eight crypto assets that represent over 85% of the total market capitalization of the crypto market traded in Indian rupees.
- The CRE8 index is based on trades made on the CoinSwitch Kuber app, which the company says has 18 million registered users.
- Trading volumes in India have plummeted recently due to a stiff new crypto tax and other recent developments, including the rough local launch of crypto exchange Coinbase (COIN). Therefore, it is not clear how many of CoinSwitch Kuber's 18 million registered users are still active.
- "#CRE8 is a demonstration of our commitment to bring more transparency to the Indian crypto market and equip users with a simple, easy-to-understand measure of the Indian market. Indian investors and market observers no longer have to second-guess how the Indian Crypto market is behaving," Singhal tweeted.
- CoinSwitch Kuber's investors include Andreessen Horowitz (a16z), Coinbase Ventures, Tiger Global and Sequoia Capital.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Citadel Securities and DeFi Waging War of Words Through SEC Correspondence
The investing giant had asked the U.S. Securities and Exchange Commission to treat DeFi players like regulated entities, and the DeFi crowd pushed back.
What to know:
- A feud conducted over U.S. Securities and Exchange Commission (SEC) correspondence has developed between Citadel Securities and the DeFi sector, arguing over whether DeFi protocols should be more regulated.
- The DeFi space is calling out the investment firm for its approach to the securities regulator.
Top Stories
