Indian Crypto Exchange Zebpay Adds 10 New Crypto Trading Pairs amid Fiat Ban
As regulatory uncertainty heats up, Indian cryptocurrency exchanges are increasingly adding support for crypto-to-crypto trading pairs.
Zebpay, India’s leading cryptocurrency exchange, have just announced ten new crypto-to-crypto trading pairs. Users can now trade ten new tokens against Bitcoin, supported by Zebpay.
Zebpay is excited to announce the launch of 10 new crypto-to-crypto trading pairs. Trading now live! https://t.co/Nyew0DYnp6
— zebpay (@zebpay) June 29, 2018
The new trading pairs include:
NCASH/BTC, REP/BTC, BAT/BTC, ZRX/BTC, ZIL/BTC,
GNT/BTC, VEN/BTC, KNC/BTC, CMT/BTC, AE/BTC
Indian cryptocurrency exchanges will no longer be able to accept fiat deposits and withdrawals from July 5. However, Zebpay still plans to continue supporting the crypto-INR trading pairs on its platform.
The platform has issued a warning to its customers stating that “rupee withdrawals could stop.” Despite their intention to continue crypto-crypto trading, the exchange admits that the full consequences of the ban are still unknown, and cannot guarantee crypto-INR trading pairs indefinitely.
Zebpay currently has a trading volume of about $2 billion, with BTC-INR making up nearly 61% of that.
Last week, the head of the newly-formed Indian government crypto panel, Subhash Chandra Garg said in an interview with ET Now that he and his team are close to announcing a regulatory framework for the use and trading of cryptocurrencies in the country.
Garg noted that the draft will be discussed in the first week of July and will entail what parts of cryptocurrency trading should be banned and what should be preserved.