Singapore-based crypto exchange Zebpay has announced it will be re-opening its services to Indian customers after it shut down in 2018 as a result of regulations.
Zebpay closed down its services in India after Reserve Bank of India (RBI) announced to stop delivering banking facilities to crypto exchanges.
The regulations have not changed but Zebpay still announced to make a comeback into the Indian market.
After leaving the Indian market, the exchange broadened its services to the Australian market.
Zebpay to enter the Indian market with a fresh leadership team
Before closing down its business in India, Zebpay was among the top crypto exchanges in the country.
The exchange declared that it is making a comeback into the Indian market under new leadership and a new team.
Zebpay is also intending to launch crypto-crypto trading, commencing with BTC-ETH and stablecoins.
It will also offer no-fee trading on specified pairs.
Zebpay is an app-enabled cryptocurrency exchange and wallet provider with its headquarter in Singapore and a registered office in Australia.
It is one of the foremost bitcoin and cryptocurrency exchanges.
It is co-founded by Sandeep Goenka, who is a Certified Bitcoin Professional by C4, USA. He is a member of YPO, (Young Presidents’ Organization) Singapore.
Zebpay had 3 million downloads and was classified among the top 10 financial apps in India.
Supreme court to rule ban
The Supreme court of India heard arguments of both sides in January this month about the ban on cryptocurrencies in India.
The Reserve Bank of India elucidated that they did not ban the cryptocurrencies in the country.
RBI defended its decision saying that it took the crucial steps to ensure financial institutions from being subjected to the risk associated with the cryptocurrencies.
The Supreme Court of India will decide whether RBI’s conclusion to quit providing banking services to crypto entities was constitutional or not.