Zebpay, the Singapore-based crypto exchange, reportedly returns to the Indian market more than a year after the Reserve Bank of India (RBI) crackdown led to the exchange’s closure in the country.
Crypto Exchange Zebpay Reopens in India Despite Banking Ban https://t.co/QLYgmwgK7m pic.twitter.com/eOdse0xvwW — Utsav Jaiswal (@utsav_jaiswal1) February 1, 2020
On January 29, it has been reported by IBS intelligence that after discontinuing Indian services in late 2018, Zebpay will open its exchange for the country once again, although the central bank ruling that caused its demise has not changed.
However, in September 2018, Zebpay halted exchange availability in India after the RBI forbade banks from serving crypto companies.
Though it closed operations in India, Zebpay announced an expansion to Australia in May 2019, showing the outfit was still alive and growing.
According to IBS intelligence, the RBI ban has not changed, but Zebpay has decided to open its doors to Indian customers once again anyway.
Likewise, IBS wrote that Zebpay has updated its company brass, including a new CFO and CMO. The outfit also touts added features and crypto-based trading pairs.
Thus, the exchange expects to open an avenue for involvement in mutual funds.