Carret

Carret operates as a cryptocurrency trading and investment platform, established in 2021 and based in Bengaluru, India. The company was founded by Neha Kumari and Shuja Hussain, both alumni of prestigious Indian institutions, IIT BHU and IIM Ahmedabad. Carret aims to provide a unified solution for cryptocurrency users, combining trading services with high-yield earning opportunities.

The firm's business model centers on two primary offerings: cryptocurrency trading and a high-interest savings product. For its trading services, Carret allows users to buy and sell over 100 different cryptocurrencies. Revenue from trading is generated through a 0.1% fee on the transaction value for its Over-The-Counter (OTC) desk, which handles large orders exceeding 20,000 USDT. The platform primarily targets the Indian market but has stated ambitions to expand into the Middle East and Southeast Asia.

A key feature of Carret's platform is the "24Carret" high-yield account, which enables clients to earn interest on their crypto holdings, with advertised rates of up to 17% Annual Percentage Yield (APY). To generate these returns, the company employs a strategy of spreading crypto assets across various institutional borrowers and participating in protocol-level staking and Decentralized Finance (DeFi) networks. This approach is designed to mitigate risk while maximizing returns for its users. The high-yield account is accessible with a minimum balance of Rs. 100.

In August 2022, Carret secured an undisclosed amount in a pre-seed funding round. The round saw participation from notable investors in the crypto space, including Sandeep Nailwal, a co-founder of Polygon, and the venture capital firm Amesten Capital. This capital was earmarked for strengthening operations, product development, global talent acquisition, and marketing initiatives to build a secure application. Keywords: cryptocurrency trading, high-yield crypto account, 24Carret, Neha Kumari, Shuja Hussain, crypto investment India, earn interest on crypto, crypto APY, Amesten Capital, Sandeep Nailwal, Bengaluru startup, crypto platform, digital assets, stablecoins, DeFi yield, passive crypto income, crypto savings, low fee crypto trading, OTC crypto trading, digital currency exchange