Crypto investment platform Giottus targets one crore customers by 2023
Hyderabad: Crypto investment platform Giottus is aiming for an exponential growth to reach one crore customer base within next one year. The company is forging partnerships with global cryptocurrency exchanges and is widening its offerings. Cities such as Mumbai, Delhi and Hyderabad are driving volumes for the platform while there is also demand from non-metros. […]
Published Date - 8 March 2022, 02:18 PM
Hyderabad: Crypto investment platform Giottus is aiming for an exponential growth to reach one crore customer base within next one year. The company is forging partnerships with global cryptocurrency exchanges and is widening its offerings.
Cities such as Mumbai, Delhi and Hyderabad are driving volumes for the platform while there is also demand from non-metros. Giottus aims to shed barriers that arise from the complexity of the asset class and the need to transact in English. Investors can buy and sell crypto assets on the platform in eight languages including in Telugu, Hindi, Tamil, and Bengali.
The company’s mobile app currently allows investors to access the platform in 18 vernacular languages for buying and selling crypto, as part of the first phase. Activities such as crypto deposits, withdrawals, accessing the portfolio will also have vernacular feature in the next 2-3 months.
Vikram Subburaj, CEO & co-founder, Giottus told Telangana Today, “Onboarding is free for customers through an automated KYC. Our vernacular customer support is unique, which eases onboarding. We are allowing only Indian nationals to trade on the platform. We have over 5 lakh customers with a strong base in south India.”
Investment options
The company recently launched two investment options. These include Baskets, expert-curated thematic investments, which augment an investor’s portfolio in the long run, along with a SIP feature to automate and schedule regular buys of crypto assets. Both products are designed to help investors expand their crypto portfolio with investment options starting from just Rs 100.
Baskets are curated by experts and research analysts. In one click, investors will be able to buy a selection of crypto assets. Themes such as DeFi, metaverse, gaming, and meme coins are already gaining popularity among Indian investors, and Baskets are specifically designed to meet this demand.
SIP is a proven method of beating volatility in an emerging market like crypto. It helps in building a strong portfolio with an optimised cost. Starting at Re 1 per buy, investors can schedule their SIP on an hourly, daily, weekly, or monthly basis at the Giottus platform.
He added, “Giottus has been a bootstrapped company and we intend to add more product offerings soon, including fixed deposits, lending, farming, and staking, that will make our platform a comprehensive suite of financial products for the savvy crypto investor. We also want to bring tools that will help in analysing to mitigate the risks. India has the potential to be a nation that can have highest volumes once there is full clarity on the crypto ecosystem.”
Regulatory approach
The union Budget gave relief to a lot of investors with indications that the government is recognising the crypto asset ecosystem and has taken efforts to give clarity on its taxation, which is expected to legitimise the crypto asset in India and pave way for a formal umbrella of regulations going forward. Even the advanced nations in terms of crypto ecosystem have not taken such a stance on taxation, Subburaj observed.
He further noted, “We do hope that the government will give exchanges and other businesses a certain time to enable the technology behind TDS deduction and bookkeeping. Offsetting and carry forwarding losses have worked well in other countries but we are happy to see a consideration given to all such instances.”
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