Zebpay, as soon as India’s biggest cryptocurrency exchange, is moving operations to Malta after having shut store on its house grass last month.

The exchange, which presently supports 20 cryptocurrencies, will serve users in 20 nations throughout Europe:

  1. Malta
  2. Belgium
  3. Bulgaria
  4. Croatia
  5. Cyprus
  6. Czech Republic
  7. Denmark
  8. Finland
  9. France
  10. Germany
  11. Greece
  12. Hungary
  13. Ireland
  14. Italy
  15. Latvia
  16. Netherlands
  17. Poland
  18. Portugal
  19. Slovenia
  20. Sweden

Sadly, the exchange will not be available to users in India.

The business had no option however to leave India coasts following rigorous policies released in April by India’s main banking organization, the Reserve Bank of India (RBI). At that time, the RBI directed banks to stop working with cryptocurrency companies

Consequently, Zebpay handicapped Indian Rupee deposits and withdrawals, and ultimately closed its exchange service totally throughout the nation towards completion of September.

That resulted in a loss of some 3 million financiers in India for Zebpay– which, as Quartz kept in mind, is approximately half the variety of financiers nationwide.

While India has actually declined to play great with cryptocurrency exchanges– extending legal fights versus the RBI’s instructions in the Supreme Court by months and postponing policies worrying domestic usage and financial investment in cryptocurrencies– Malta warmly invites such companies with more transparent guidelines governing how they can run. Binance stated in March that it prepared to move operations to Malta after dealing with difficulties establishing throughout Asia.

It’ll be fascinating to see how Zebpay carries out in its brand-new digs, as it now needs to court an entire brand-new market. Ideally, the relocation will motivate India’s regulative authorities to stay up and take notification, and move much faster towards preparing standards that enable exchanges to start working in your area quickly.

Released October 18, 2018– 09: 42 UTC.