- Zebpay is back in the crypto-verse in a New avatar to attract the Indian cryptocurrency community.
- ZebPay announced its return on the 29th of January, Rahul Pagidipati will be heading the company as its new CEO.
The lack of cryptocurrency regulations in India led to the shut down of ZebPay in 2018. Now, after undergoing some changes, the company is ready to start anew in 2020.
With a new leadership team and rekindled spirit, ZebPay announced its return on the 29th of January. Rahul Pagidipati will be heading the company as its new CEO. He has over two decades of experience and has worked for Anion Healthcare Services, Rediff, and other companies. Along with the new CEO, ZebPay has also hired a new CFO, CMO, and a chief strategy officer.
ZebPay had to shut down when a circular issued by RBI on the 6th of April 2018 restricted banks and payment companies from providing services to cryptocurrency services. Since then, nothing much changed regarding the rules on cryptocurrencies in India. However, in July 2019, the government’s inter-ministerial committee (IMC) made a report on the use of virtual currencies in India to ban cryptocurrency in India. No rule prohibiting the use of cryptocurrency has been passed, and the government might even be looking to create a national virtual currency instead of allowing private parties’ currency.
Zebpay Comeback Positive Sign for Indian Crypto Community
Since 2018, many crypto startups such as Bitconnect, Koinex, Coinsecure, etc. were shut down due to regulations. However, the interest shown by the Indian government and RBI in creating a national virtual currency has given new hope to crypto companies in India. Recently, the Prime Minister of India awarded Harshita Arora, a young entrepreneur, for developing an app to track cryptocurrency.
ZebPay is all set for a comeback and has informed its users that it is working on multiple products. In a few months, it is going to start a crypto-to-crypto trading platform to trade pairs like ETH-BTC and other such coins with an instant buy/sell option. To further promote growth, the company will be waiving trade fees on particular pairs each month.
With the comeback of ZebPay, more crypto companies might be looking to join the race soon.
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