Zebpay will start Crypto Trading and operations in India after 2 years
India's largest and one of the oldest cryptocurrency exchange will soon start its operations in India. Two years ago, Zabpay stopped its crypto trading services in India due to the uncertainty of crypto regulation but with new owners, It has announced the come back to India and also planning to start crypto trading later this year. Today, on 29 January 2020, Zebpay users received an email with the title "New Year, New ZebPay - Important Updates from the Team", which mainly consisted of five important updates -
1. New leaders & new vision ZebPay is back with new owners and new leaders. The new CEO is Rahul Pagidipati, a veteran entrepreneur with over 20 years’ experience building long-lasting billion-dollar companies. They also changed CFO, CMO, and Chief Strategy Officer.
2. Crypto-crypto trading coming soon In the coming months, they will launch crypto-crypto trading to allow its users to trade pairs like ETH-BTC and stablecoins with instant buy/sell.
3. No-fee trading on selected crypto-crypto pairs each month They have decided for a limited time to waive trading fees for one select pair every month, starting with BTC-ETH. Throughout the month, their users will enjoy no-fee trading on that select pair.
4. Passive income and borrowing They are developing a program so users can earn passive income on their crypto holdings and borrow crypto. 5. Wallet security They have created one of the world’s most advanced, secure wallet systems to protect its users crypto assets. According to them, ZebPay has never been hacked in its five-year history. To maintain that edge, they have created a new company in the ZebPay group, Genie Technologies Pte. Ltd., focused solely on security research. Important to take notice is that from March 1st, 2020, Zebpay will charge a monthly fee of 0.0001 BTC per member, equal (on average) to roughly USD 0.80 / SGD 1.1 / INR 60. It is a flat fee, not a percentage. If the price of Bitcoin goes up significantly, They will adjust the fee downwards. This will allow them to cover the cost of wallet security until they launch their crypto-crypto trading later this year.
When we shared the news to our followers on Twitter that Zebpay is coming back to India, we got an immediate reply from the new Zebpay CEO Rahul, which reflects his vision for Zebpay in India.
The last few years have been challenging for the crypto community in India and also for Zebpay due to uncertainty about crypto regulations in India. After a three-week hearing on the RBI vs Crypto case to remove the banking ban, Judgement is reserved by the Supreme Court, which is expected to come out within 2-3 weeks and legal experts are of the opinion that the decision can go either way.
It was not easy to stop the business that had been operating for the past five years and we wish Zebpay new team to take Zebpey to the heights where it was.