CoinSwitch's fifth PoR shows ₹625 crore surplus over customer holdings

CoinSwitch's fifth proof of reserves report shows total holdings of Rs 2,764.2 crore as of March 2025, exceeding customer assets by Rs 625.56 crore in crypto and INR

Crypto exchange platform CoinSwitch on Wednesday announced its fifth edition of proof of reserves (PoR) data, stating that the company’s overall holdings of crypto and Indian currency balances were higher than those of its customers.

 

The company’s total reserves, including crypto and INR balances, were recorded at Rs 2,764.20 crore, while customer holdings stood at Rs 2,138.64 crore as of March 2025. The company’s reserves represented a surplus of Rs 625.56 crore.

 

When it came to the holdings of virtual digital assets alone, the company said that crypto user holdings were recorded at Rs 2,043.15 crore, whereas CoinSwitch’s total crypto asset holdings stood at Rs 2,576.54 crore.

 

 

PoR is the ‘proof’ that a financial entity has the holdings it claims to have.

 

A PoR audit is published by crypto firms to inform customers that a custodian or a crypto platform is adequately liquid and that users can withdraw their funds at any time. It provides transparency on both the user’s and the crypto exchange’s holdings.

 

In the third edition of the proof of reserves published last year, the company’s crypto holdings stood at Rs 3,497.22 crore, whereas user holdings in the same basket were Rs 2,774.10 crore.

 

“This proof of reserves, now in its fifth edition, reflects our uncompromising focus on fund safety and user protection. We will continue to lead by example in bringing accountability and trust to India’s crypto space,” said Balaji Srihari, vice-president, CoinSwitch.

 

CoinSwitch has more than 20 million registered users. It was founded in 2017.