Just weeks after shutting down its India operations, Zebpay exchange may be preparing to launch its global operations in Malta. According to Zebpay’s official global page, citizens of 20 countries which includes Malta may access Zebpay’s services. India, notably, is not part of the list.
Zebpay is widely known as India’s first cryptocurrency exchange which helped a lot of the new Indian cryptocurrency investors hop on to the crypto bandwagon. Despite good growth over the initial years, it was severely crippled by RBI’s banking squeeze in April this year. Zebpay also stayed away from launching P2P trading mechanisms like peers Koinex and WazirX. It shocked the Indian cryptocurrency community when it decided to shut shop last month.
Malta is fast becoming the top investment choice for blockchain and cryptocurrency companies due to a friendly regulatory regime. Big crypto businesses which have made Malta their home include Binance and OKEx.
India’s continued ambiguity towards crypto regulations continues to frustrate cryptocurrency businesses and investors in India. Crypto Dost media appeals to the Indian government to fast track cryptocurrency regulations by adopting the model taken by countries such as Singapore.