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SunCrypto Presents Web3 Integration, Opening Up Access to 50,000 Tokens
SunCrypto launches New Features about Web3 Mode selection of over 50,000 decentralized tokens, all with the convenience of Indian Rupee (INR) on-ramps.
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On August 25, the Indian cryptocurrency platform SunCrypto introduced a new Web3 Mode within its application. This feature is designed to empower its user base of 2.5 million by granting them seamless access to an extensive selection of over 50,000 decentralized tokens, all with the convenience of Indian Rupee (INR) on-ramps. According to Umesh Kumar, the co-founder and CEO of SunCrypto, this integration dramatically simplifies the process of engaging with the Web3 ecosystem.
The newly launched Web3 Mode allows users to explore and invest in tokens that have not yet been listed on centralized trading venues. This provides a unique opportunity to interact with a wider and more dynamic range of digital assets.
"Our team's focus has been on advancing our presence in the Web3 space," Umesh Kumar shared in an interview. "We are committed to our mission of simplifying access to crypto and Web3 for every individual in India. This is a monumental step for us, as very few platforms globally offer this level of functionality. It is an extremely complex and demanding task to develop and implement."
The integration was achieved entirely through SunCrypto's internal development team, a point of pride for the company. This innovation transforms what was once a multi-step, cumbersome process to engage with Web3 offerings into a single-click action within the application. "It took us several months to build this capability, and since then, we've been dedicated to integrating it smoothly into the application's backend," he added.
According to Umesh Kumar, a major challenge for centralized exchanges is the operational burden of managing a large number of tokens. "Even the largest exchanges, such as Binance, can only handle a limited number of tokens—typically fewer than a thousand. Managing liquidity and trading for thousands of tokens is a colossal operational undertaking for a centralized platform," he explained.
He contrasted this with the decentralized finance (DeFi) model. "The real advantage of decentralized finance is that it doesn't require manual management. The entire system is automated through self-executing smart contracts."
With this new feature, users will have the ability to access a wide range of new and pre-launch tokens from major and growing blockchain networks, including Base, Solana, Binance Smart Chain, Polygon, and more than 10 other chains. The Web3 Mode also provides a straightforward INR on-ramp, simplifying access for Indian users.
Users can purchase foundational tokens like ETH, MATIC, USDT, and USDC using Indian Rupees through the standard SunCrypto app and then transfer these assets to the Web3 Mode wallet. From there, they can use these tokens to acquire other assets within the decentralized Web3 environment.
SunCrypto is also creating a unified deposit and withdrawal system, enabling users to seamlessly transfer funds between their conventional SunCrypto wallets and the Web3 Mode.
In addition, the company announced that users will be eligible for airdrop points based on their transaction history on the platform. Investors will earn "Sun Alpha Points" for every interaction within the Web3 Mode, designed to enhance their overall investment and trading experience.
This launch follows another significant development earlier this month when SunCrypto introduced its Over-the-Counter (OTC) Trading desk. This service is tailored for high-net-worth individuals (HNIs), family offices, and institutional investors, a segment of the market that is currently showing substantial growth. SunCrypto's objective is to achieve $100 million in assets under management (AUM) by the end of 2025 through this new offering.
Disclaimer: Readers are advised that Crypto products and NFTs are unregulated and involve significant risks. There may be no regulatory recourse for losses arising from such transactions.This article is part of paid consumer connect initiative and is independently created by the brand.Hindustan Times/HTDSL shall not, in any manner, be responsible or liable for the content of the article, advertisement, including the views, opinions, announcements, declarations, or affirmations expressed therein and is absolved from any legal action or enforceable claims. This content is for informational and awareness purposes only and does not constitute financial advice.
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