In consequence of the restrictions on the cryptocurrency trading, the Indian company Zebpay is planning to open two cryptocurrency exchanges in Malta and Singapore. The Maltese branch of the company will provide services for trading digital assets-to the citizens of 20 European countries.
17 Sep exchange Zebpay based on Malta company Malta Awlencan Innovations, which will be a cryptocurrency trading platform. Each user of the new exchange will be required to verify your identity, so some data you can register only one account.
In may 2018 in Singapore, the firm was created Awlencan Innovations Pte. She is currently working on the development of applications based on blockchain technology. Apparently, in the near future on the basis of the company will create a marketplace that will become the representation of Zebpay in Asia.
Prior to the entry into force of the restrictions on trade in cryptocurrencies in India Zebpay was one of the largest exchanges. However, starting in July 2018, the daily trading volume dropped significantly, so the management Zebpay took the decision to suspend the activities of the company.
The decision of the Reserve Bank of India banning banking organizations to work with cryptocurrency trading enterprises has had a devastating effect on the Indian market digital assets. Cryptocurrency exchanges continue to provide services for the conversion of cryptocurrencies, since the sanctions were imposed only trade the pairs with the local Fiat currency – the rupee. But this is not enough for a full-fledged business. Most Indian exchanges follow the example of their Chinese colleagues and will transfer the headquarters abroad.