Synopsis: CoinSwitch’s DigiVault offers secure crypto storage for India’s HNIs, firms, and funds. Uses Fireblocks tech to block hacks, adds treasury tools and easy tokenization. Meets rising demand for safe custody as adoption grows. Crypto vaults for India’s rich are here.
CoinSwitch, an Indian crypto platform, launched DigiVault. DigiVault is a new crypto custody that aims at wealthy individuals and institutions. This shows that the company is moving beyond retail trading into building core digital asset infrastructure.
What is DigiVault?
DigitVault is a secured platform for storing and managing digital assets. It is created to be used by high net-worth individuals (HNIs), family offices, corporates, funds, and Web 3 developers.
This platform offers several key features like long-term storage, controlled withdrawal systems, treasury management tools, and API-based infrastructure for blockchain applications.
It is now available to external clients due to increasing demand for secure crypto custody solutions. Originally built for internal use, CoinSwitch decided to offer it publicly after noticing strong demand for secure and compliant custody systems.
Why Custody is becoming more important?
As crypto adoption increases, buying and selling it is not enough. They are demanding more services while participating in the crypto market.
Earlier, only retail investors invested in crypto, recently even high networth individuals are also entering the crypto market. As the characteristics of crypto investors started to change, there is a difference in the requirements also.
More secure storage with governance controls and high compliance controls are ever in demand. DigiVault fills the gap of both global security standards and local regulatory expectations.
Rising institutional interest in crypto
The Indian crypto market became a mature market recently due to the increasing participation from HNIs, family businesses and enterprises. There is less regulatory ambiguity, which is driving more crypto participation from HNIs, institutional investors, family businesses and enterprises.
Built with Global Security Partner
CoinSwitch partnered with Fireblocks to ensure high-level security. Fireblocks is a global leader in crypto security. It utilised advanced technologies like multi-party computation, that removes single point of failure.
When platforms do not use multi-party computation, it relies only on a single private key. Multi-party computation, it splits control across multiple parties. This eliminates single points of failure, making it much harder for hackers to compromise assets.
This platform has secured over $10 trillion in digital asset transactions globally, which adds credibility to DigiVault, especially for institutional clients who prioritise risk management.
Also Read: FTX’s $2.2B Payout Raises Questions as Users Get 2022 Prices, Not 2026 Gains
Focus into tokenisation
Another feature of DigiVault is its ability to support tokenisation. This is an emerging trend in the crypto world. It allows the real assets to be converted into digital tokens on blockchain.
With DigiVault, assets can be tokenised with ease and comfort. DigiVault enables users to:
- Onboard real-world assets
- Convert them into digital tokens
- Distribute these tokens to investors
- Manage the entire lifecycle of these assets
This opens up new possibilities like divisible ownership, enhanced liquidity, and easier transfer of assets. Tokenisation is expected to change this crypto industry within the next few years.
Future Steps
DigiVault provides both opportunities and challenges. The opportunities tend to be the evolution of regulatory uncertainty and the volatile crypto market. The main challenges continue to be the security and the compliance issues.
If these challenges are managed efficiently, CoinSwitch can become a leader in institutional crypto services in India.
Written by Parvati Anilkumar
