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Sign-Ups for Stock and Cryptocurrency Investments Increase 45 Percent Year-On-Year Across Rural India

According to The Economic Times, the number of young investors seeking to buy and trade crypto and equities in India's non-metro regions has risen substantially in the past year.

  • Strong performing markets, targeted advertising, and greater awareness have helped crypto and wealth management platforms attract new customers, according to the study.
  • According to the article, which cites BSE stock market statistics, the rise in new user registrations is a 45 percent increase to 70 million from the previous year.
  • As of August 23, user signups in the state of Uttar Pradesh had increased by almost 60%, while those in the states of Odisha, Assam, Bihar, and Madhya Pradesh had also increased significantly from the previous year.
  • Since June of last year, local crypto platform Coinswitch Kuber has recorded a 135 percent rise in month-on-month growth from non-metro cities.
  • In the meanwhile, CoinDCX, India's first crypto unicorn, has seen a 48.7% increase in user signups from India's less populous cities in the last six months.

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