Zebpay, previously one of the largest cryptocurrency exchanges in India, announced this week that it will resume operations in the country. The new management of the exchange plans to offer new services.
“Zebpay is back. A new management team, cryptocurrency trading, Commission-free trading on selected pairs, increased attention to security and innovation, and a program of passive earnings and borrowing are already close. With a new CFO, marketing Director and Director of strategic Affairs, we have a vision that will allow us to become one of the most reliable and innovative blockchain companies in the world,” said Zebpay.
The exchange noted that it is working on a number of new services that will be launched in India, and plans to launch cryptocurrency trading in the coming months. Users will be able to trade pairs such as BTC/ETH and stablecoins with instant purchase and sale. In addition, for a limited period of time, the platform will not charge commissions for transactions in one trading pair every month, starting with the BTC/ETH pair.
Zebpay also stated that it has created “one of the most advanced and secure wallets in the world to protect crypto assets.” Although commissions were previously used to cover the cost of maintaining wallet security, the company has been paying these costs independently since 2018. Therefore, it was decided that from March 1, each user will be charged a fixed monthly fee of 0.0001 BTC.
“If the price of bitcoin increases significantly, we will reduce the Commission. This will allow us to cover the cost of wallet security until we launch cryptocurrency trading. As soon as we resume trading, you will not be charged if you make at least one transaction per month,” said Zebpay.
Recall that in September 2018, at that time, the largest exchange by trading volume in India, Zebpay, announced the suspension of trading. At the time, the company said that the decision was caused by an order from the country’s Central Bank prohibiting local financial institutions from providing services to cryptocurrency exchanges. After that, Zebpay started working in Singapore and Malta, as well as in 21 European countries.