Non-metro India now drives most crypto growth, says Ashish Singhal

CoinSwitch co-founder says tier-2 and tier-3 cities drive 76 per cent of activity as women investors reach 12 per cent of user base

Ashish Singhal, co-founder of CoinSwitch, India’s largest cryptocurrency trading platform, says the country’s crypto adoption is shifting beyond metropolitan centres. Non-metro regions now account for nearly 76 per cent of India’s crypto activity among the platform’s 25 million users, while women investors have grown to represent 12 per cent of the user base. Despite stringent taxation, including a 30 per cent crypto tax and 1 per cent tax deducted at source (TDS), the market remains youth-driven, with investors aged 26–35 comprising 45 per cent of total investments. In a video interview with Peerzada Abrar, Singhal discusses demographic trends, regulatory challenges,