Carret expands its fixed-income investment product to institutional investors

  • The company allows crypto investors to earn high interest on their crypto holdings and trade over 100 cryptocurrencies

Livemint
Published9 Nov 2022, 07:34 PM IST
The crypto investment company had recently received pre-seed funding from a clucth of investors, including Polygon cofounder Sandeep Nailwal, former BlackRock executive Yan Wu, and Amesten Capital.
The crypto investment company had recently received pre-seed funding from a clucth of investors, including Polygon cofounder Sandeep Nailwal, former BlackRock executive Yan Wu, and Amesten Capital.(Reuters)

Crypto investment platform Carret said it has expanded its fixed-income investment product to institutional investors in India. 

The Bengaluru-based company, founded by Neha Kumari (alumna of IIT BHU) and Shuja Hussain (alumnus of IIM Ahmedabad), allows crypto investors to earn high interest on their crypto holdings and trade over 100 cryptocurrencies. 

Carret claims that its flagship product 24Carret, which is a high-yield crypto savings account, provides an annual percentage return of up to 17%. “Carret spreads its crypto assets across various institutional borrowers, protocol-level staking, and the DeFi network to mitigate risk and generate return,” the company said in its statement. 

24Carret was so far geared toward retail investors and has been extended to institutions with the launch of “Private Client Services” to facilitate their investments in crypto assets which has all the benefits of 24Carret with additional personalization for the institutions. 

“Carret now enables institutional investors to customize their portfolios based on their risk tolerance and investment needs through the Private Client Service. Carret is the first to offer a customizable fixed-income product to institutions in India. This product targets HNIs, UHNIs, family-owned businesses, and institutional investors to get a customized fixed-income crypto product to meet their financial goals. Currently, retail customers have access to the default interest rates, which serves them well as it removes any complexity and makes it easier for them to invest and grow their wealth. However, the institutions need investment solutions tailored to their needs. With the Private Client Service, institutions have the flexibility of customizing the duration of their investment as well as negotiating the associated interest rates as per their requirements,” Carret said in its statement.

Private clients of Carret are given a dedicated resource to assist them in account opening, order execution, and other operations required throughout their journey. The company claims this is a one-of-a-kind of service in the crypto asset domain in India and is exclusively available to HNIs, UHNIS, Family Offices, and other institutions via the Carret website. 

The crypto investment company had recently received pre-seed funding from a clucth of investors, including Polygon cofounder Sandeep Nailwal, former BlackRock executive Yan Wu, and Amesten Capital. As per Kumari, the freshly raised funds will be used by the company to expand its operations, product, and strategy verticals and to expand into the Middle East and South-East Asian countries over the next 6-8 months.

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First Published:9 Nov 2022, 07:34 PM IST
HomeMarketsCryptocurrencyCarret expands its fixed-income investment product to institutional investors

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