Zerodha, India’s largest stock brokerage, is expanding its Coin investment platform by introducing Fixed Deposits (FDs) through a partnership with New Delhi–based fintech startup Blostem. This marks a strategic step as the company moves beyond stock investing and mutual funds into traditional fixed-income products.
Coin, known for long-term wealth-building tools, currently offers mutual funds, the National Pension System (NPS), and insurance products. The platform manages Rs 1.6 lakh crore in AUM and is positioned as a passive investment destination separate from Zerodha’s core trading app, Kite.
About the partnership
The new FD offering will be powered by Blostem, which recently raised close to $1 million, with Zerodha’s Rainmatter Capital participating in the latest round. The FD service will be fully digital, allowing users to open deposits even without a standard savings account.
Zerodha is expected to partner primarily with Small Finance Banks, which generally offer higher interest rates compared to traditional banks.
Why this matters
The launch helps Zerodha:
- Broaden its product basket beyond equities and mutual funds
- Target conservative and FD-focused retail investors
- Strengthen Coin as an all-in-one wealth platform
This development comes at a time when Zerodha recently reported its first YoY decline in revenue and profits in over a decade, signaling a renewed focus on expanding into stable and diverse investment solutions.
What’s next
The FD feature will roll out soon on the Coin platform as Zerodha continues to evolve into an integrated financial services ecosystem. The industry will watch how this move influences user adoption and contributes to revenue growth over the coming year.
