Reserved IP Address°C
03-31-2025
BSV
$31.59
Vol 21.82m
-0.08%
BTC
$83128
Vol 28660.11m
0.84%
BCH
$303.16
Vol 195.26m
0.39%
LTC
$83.2
Vol 439.5m
-3.24%
DOGE
$0.16
Vol 1394.53m
-1.22%
Getting your Trinity Audio player ready...

After suspending its trading operations in India, cryptocurrency exchange Zebpay is reportedly setting its sights on “global domination.”

Zebpay has yet to make an official announcement about its overseas operations plans. However, Indiabits tweeted last week that the Indian crypto company has set up entities in Singapore and Malta, which reportedly will enable it to “provide cryptocurrency exchange and OTC services to 20 countries in Europe.”

On its website, Zebpay identified Awlencan Innovations Malta Ltd., a Maltese registered company, which owns and operates the Zebpay VFA Exchange Platform in Malta. Awlencan Innovation Pte. Ltd., meanwhile, is a Singapore-based blockchain company that was formed in May 2018.

Zebpay is planning to offer cryptocurrency exchanges services and OTC services to 20 countries in Europe, according to Indiabits. These countries include Belgium, Malta, Croatia, Bulgaria, Cyprus, Czech Republic, Finland, Denmark, France, Greece, Germany, Hungary, Italy, Ireland, Sweden, Slovenia, Portugal, Poland, Netherlands, and Latvia.

Zebpay will not extend its services to restricted jurisdictions, especially those sanctioned by the United States like Iran and Venezuela. The company will also not offer its services to the customers in U.S. and Japan.

For its new operations, Zebpay stated that it would exercise strict know your customer (KYC) and anti-money laundering processes. All customers will be allowed to have only one account. Any accounts with same identification details will be closed.

The decision to increase its global reach comes two weeks after the company announced that it would be shutting down its cryptocurrency exchanges in India. According to reports, Zebpay closed shop in India following the Reserve Bank of India’s ban on all crypto-related businesses.

At the time, Zebpay stated that they were unable to continue their operations in India as they could not find reasonable ways to run their services without drawing the ire of the authorities. Despite being one of India’s largest cryptocurrency, the current crypto situation forced Zebpay to look for better markets. Many entities in the country have challenged the RBI ban. The matter has been taken to the Supreme Court and is yet to be resolved.

Recommended for you

Global Web3 adoption faces hurdles; IPv6 gains ground in US
Complex wallet concepts are slowing down Web3 adoption, according to a study. Meanwhile, the U.S. is keeping up with EU...
March 31, 2025
India to transform Parliamentary processes with AI
Called 'Sansad Bhashini,' the initiative by the Lok Sabha Secretariat and IndiaAI Mission is expected to transform parliamentary processes through...
March 31, 2025
Advertisement
Advertisement
Advertisement