Key Highlights
- CoinSwitch launches DigiVault, a Fireblocks-powered crypto custody platform for HNIs, institutions, and Web3 firms.
- The platform offers MPC-based security and supports real-world asset tokenization on a single infrastructure.
- Launch comes amid tighter Indian crypto regulations, including FIU-IND compliance and tax scrutiny.
CoinSwitch, India’s largest crypto platform with over 2.5 crore registered users, has launched a crypto custody platform called DigiVault. The service is aimed at high-net-worth individuals (HNIs), family offices, institutional investors, and Web3 enterprises looking for secure, locally compliant digital asset storage.
The platform is built on Fireblocks’ enterprise-grade Multi-Party Computation (MPC) technology, which splits cryptographic keys across multiple parties to remove single points of failure. Fireblocks has processed over $10 trillion in digital asset transactions across 150+ blockchains and is used by over 2,400 institutions globally.
According to CoinSwitch, DigiVault was originally built as an internal custody solution. Growing demand from HNI and institutional clients for a compliant, India-first option led the company to open it externally.
The platform also supports tokenization of real-world assets, allowing partners to onboard, tokenize, distribute, and manage assets on a single platform.
Ashish Singhal, Co-founder of CoinSwitch, said the platform addresses what he called a critical infrastructure gap, noting that participation in India’s crypto ecosystem has shifted toward HNIs and enterprises over the past 12 to 18 months.
Regulatory alignment in a tightening environment
DigiVault adheres to FIU-IND guidelines and India’s PMLA requirements, with KYC, AML, transaction monitoring, and audit-ready reporting. The timing is relevant. The CBDT recently brought crypto under India’s financial reporting framework, retroactive to January 2026, ahead of the OECD’s CARF rollout expected by April 2027.
The IT Department has also flagged crypto risks before Parliament, and over 44,000 tax notices have been issued to traders who did not report earnings.
Not the first custody play in India
CoinSwitch is not the first Indian exchange to work with Fireblocks. In January 2026, WazirX integrated the same platform after resuming operations following its $230 million security breach in July 2024.
CoinDCX, meanwhile, launched its own decentralized custody feature in October 2024 for retail users. DigiVault’s differentiator, at least on paper, is its institutional focus and tokenization layer.
Part of a broader pivot
DigiVault sits within the PeepalCo ecosystem, the umbrella brand CoinSwitch created in 2023 to house its expanding verticals. PeepalCo also operates Lemonn, a SEBI-registered stock investing platform.
Over the past year, CoinSwitch has launched Web3 Coins for INR trading, published its fifth Proof of Reserves showing 1:1 backing of user funds, rolled out its ₹600 crore recovery program for WazirX users, and partnered with Trilegal to publish a crypto policy roadmap. Its X account was also hacked in February 2025 to promote a fake token, though the exchange itself was unaffected.
With DigiVault, CoinSwitch now spans retail trading, Web3 token access, institutional custody, and equity investing. India still lacks a dedicated regulatory framework for crypto custody, so whether institutional players see enough reason to trust an exchange-backed offering over global alternatives remains to be seen.
Also Read: After WazirX & CoinDCX, CoinSwitch Enters India’s Crypto Zero-Fee Battle
