Zebpay cryptocurrency exchange has announced its return to India. Its aim is to reclaim its number one spot.
Zebpay, a cryptocurrency exchange company that claims to provide a unique exchange platform for its users, shut down its operations in India in 2018. Back then, the exchange cited regulations as the reason.
Announcing its re-launch, Zebpay said that its operations in India are in earnest. Besides, Zebpay has completely restructured its leadership board. The company’s CEO Rahul Pagidipati has appointed a new CFO, CMO, and CSO.
Notably, the new CEO has over 20 years of experience as an entrepreneur. He will help Zebpay to reclaim its glory and attain international relevance.
Arrives with Bonus Trading
In its announcement, Zebpay said that it embraces the creation of long-term value. Hence, the company decided to remove trading fees from one selected pair every month. The first pair is the BTC-ETH one. Though, it’s for a limited time.
Starting March 1st, 2020, the exchange gets to charge a monthly fee of 0.0001 BTC per member. This equals (an average) to roughly USD 0.80 / SGD 1.1 / INR 60. This also means that for crypto-crypto trading, users won’t be charged a wallet fee as long as they place one trade per month. Thus, you need to remain active.
Quoting the page: “We’re working on new opportunities for you in the coming months. We’ll launch crypto-crypto trading to allow you trade pairs like ETH-BTC and stablecoins with instant buy/sell.”
After the re-introduction, a lot of questions have emerged. For instance, how the exchange plans to once again become a leader. After all, a lot of other platforms now exist in the Indian market.
Besides, there’s an ongoing battle between the Indian crypto community and the Reserve Bank of India (RBI). To remind, the RBI banned banks from doing any business with crypto entities. However, an Indian high court is currently reviewing the case, listening to the arguments from the crypto community and the RBI. Afterward, the court will give its final judgment.
On a different note, Zebpay entered the Australian market last year. And it expanded its operations in Europe as it has a base in Malta.