Zerodha's Coin platform will launch Fixed Deposits (FDs) on the platform in a fortnight, according to a couple of sources familiar with the matter. The FD product is being launched in partnership with a fintech startup, Blostem, a New Delhi-based startup that has raised close to $1 million in funding.

Zerodha founders’ investment arm Rainmatter Capital will also lead a new round of funding in the startup, along with the formalisation of the partnership, one of the sources added. However, the quantum of the investment could not be confirmed.

Coin is a separate app from Kite, the direct stock investment and trading app of Zerodha. Coin is the primary platform for long-term investments, including Mutual Funds, Sovereign Gold Bonds, government securities, and the National Pension Scheme.

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