Zebpay Re-Enters India After a Year in Exile

The exchange shut its operations in the country due to unclear regulations.

Zebpay, a Singapore-headquartered crypto exchange, has re-entered the Indian market following its exile from the country in September 2018.

Announced last week, the re-launch of the exchange in the country is backed by a change in top leadership, including its new CEO, Rahul Pagidipati. The company also appointed new CFO and CMO, along with a new chief strategy officer.

The exchange has plans to bring crypto-to-crypto trading in the region and will also offer no-fee trading for a few pairs.

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“We’re working on a number of new opportunities for you. In the coming months, we will launch crypto-crypto trading, to allow you to trade pairs like ETH-BTC and stablecoins with instant buy/sell,” the exchange stated.

Will India regain crypto trading dominance?

Zebpay was one of the leading crypto exchanges in India for a long time, mostly because of its simplified way of offering purchasing options of major digital currencies using fiats. However, in September 2018, the exchange shut its services in the country, citing unclear regulations and a hostile government towards the sector.

The re-entry of the exchange in India followed at a time when the existing crypto community in the country is in an ongoing battle with the Reserve Bank of India (RBI), the country’s central bank, against its order to ban the banks from doing business with crypto entities. The apex court heard arguments from both sides and is now pending to propagate its judgment.

Despite its exile from India, Zebpay made a concrete presence in the international markets. Last year, it entered the Australian market after obtaining a license from the Australian Transaction Reports and Analysis Centre (AUSTRAC).

It has also expanded its European operations over the year with its base in Malta.

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