Prominent Indian crypto exchange platform CoinSwitch Kuber has launched a Crypto Rupee Index (CRE8). CRE8 is the first-of-its-kind index that will give real-time information on the performance of the Indian Rupee based on the crypto market.
Ashish Singhal, co-founder of the CoinSwitch Kuber platform tweeted, “#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.”
The index will refresh over 1400 times a day and track the performance of eight crypto assets, which represent over 85% of the total market capitalization of the crypto market traded in the Indian Rupee.
Singhal also said, “Until now, investors in India had to rely on international indices based on US Dollar.”
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“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.”
Singhal believes that the Index will allow Indian investors to make informed decisions.
CRE8 will be based on the trades made on the CoinSwitch Kuber app, which has 18 million registered users.
