Online brokerage firm Zerodha reported total assets under management of Rs 1,600 crore on its direct mutual funds' investment platform called Coin that it launched in March last year. Zerodha, which competes with players like FundsIndia in the mutual funds business, is preparing to face a bigger challenge with Paytm, the country’s largest digital payments company, set to enter the wealth management business with Paytm Money. Also, in its traditional equities business, Zerodha is seeing increased adoption with its daily-trading turnover doubling. Zerodha chief executive Nithin Kamath said the company clocks around 2 million trades a day across exchanges. The company has reached 1 million total users, of whom about 670,000 are active traders, ie, people who have registered a trade at least once a year.