Crypto-to-Crypto Trading to be launched at Zebpay

Leading Indian cryptocurrency exchange, Zebpay, has presented crypto-to-crypto trading on its platform
25 April 2018   1135

Indian exchange Zebpay has started its first crypto-to-crypto trading pair. Instituted in 2015 and headquartered in Mumbai, Zebpay states to be India’s largest cryptocurrency exchange. In March, the firm declared that its app had more than 3  million downloads, “making it the most downloaded cryptocurrency app on both iOS and Android in India.”

Zebpay is excited to announce the launch of crypto-to-crypto trading. Now, you can easily exchange one cryptocurrency for another…The first pair we’re introducing is ETH/BTC. More crypto pairs coming soon. Crypto-to-crypto trading feature will be available in the new app update: Android version 2.0.14 and iOS version 2.0.24. 
Zebpay, Cryptocurrency Exchange, India

Crypto-to-crypto trading startup at Zebpay ensues the statements by the Reserve Bank of India (RBI), according to which banks and financial institutions under its regulation are prohibited from providing services to cryptocurrency exchanges.

The exchange representatives also declare they stay committed to keeping customer funds and assets secure, and are researching different 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. 
Zebpay, Cryptocurrency Exchange, India

The crypto community has been increasing in India. According to Zebpay, while it is estimated that 10 million Indians are investing in financial markets, 5 million Indians are claimed to be trading cryptocurrencies.

Looking at the Indian milieu, people have started looking at cryptocurrencies not only as an investment option but as a technology that is about to change the future of money. 
Mahin Gupta, CTO, Zebpay

Last month the exchange also collaborated with one of India’s largest tax filing platforms in order to help taxpayers with crypto-related taxes.

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   295

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.