Top executives switch Coinswitch to build Web3 startup

Chief Financial Officer (CFO) Sarmad Nazki, Chief Business Officer (CBO) Sharan Nair and Senior Vice President, Krishna Hegde have decided to move on from the company to start another venture in the Web 3 space, confirmed Ashish Singhal, Co-founder and Chief Executive Officer (CEO), CoinSwitch.

Entrackr was the first to report the development.

"I'm happy to see Sharan, Sarmad and Krishna spread out and continue to build toward this future, and we at CoinSwitch look forward to future collaborations," said Singhal in a statement on July 7.

Nair said, "We are super passionate about Crypto and we believe it is here to stay. We will continue to take guidance from CoinSwitch team, which has been my home turf for the last 4+ years as we build India into the Web3 hub of the world."

Singhal added that the transition had been going on for weeks since the three executives decided to leave the company. He added, "We have a strong set of leaders to take over their functions."

Ex-Myntra, Flipkart and Wipro executive Ramesh Bafna has joined CoinSwitch as the CFO, said Singhal. He added, "Bafna has been working in tandem with Sarmad to effect a smooth and seamless transition."

In addition, Rishav Dev has replaced Hegde as VP of New Initiatives who will lead our efforts in building the company's new and exciting verticals, Singhal said. The company also added R Venkatesh, Senior VP, Public Policy, who will lead the public policy initiatives.