In the wake of India’s RBI circular that directed all regulated banks to exit relationships with entities or individuals dealing with cryptocurrency, India’s most popular cryptocurrency exchange, Zebpay has launched a crypto to a crypto trading platform.

The RBI circular was delivered early this month and gave all RBI regulated banks and financial services 3 months to exit all current relationships with cryptocurrency holders, and barred them from entering into any new relationships or partnerships. In the same breath, however, the deputy governor also stated that the RBI is thinking about launching their own digital currency.

When the RBI circular was released, Zebpay announced on its website,

We remain committed to keeping customer funds and assets secure and are exploring various options, however, a sudden disruption in banking services could affect our ability to service deposits and withdrawals until banking services are restored. Please keep this risk factor in mind while making your investment decisions.”

 Arguably, to keep the exchange up and running, Zebpay announced today that it has launched crypto to crypto trading. The crypto trading desk has first launched with BTC/ETH trading but plans to launch more crypto pair trading soon. All transaction fees for crypto to crypto trading will be charged in bitcoin, according to a statement on the zebpay website.

Zebpay also just celebrated their 3 millionth app download. Additionally, the Zebpay team also partnered with a large tax-filing company to help their investor file taxes in relation to cryptocurrency returns.

Another Indian crypto company, Kali Digital has filed an appeal to the High Court challenging the RBI’s circular. The next hearing date in the case has been set for May 24th.


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