Crypto Exchange OKEx Rolls out P2P Trading Platform in India despite Uncertainty about Crypto Regulation

Cryptocurrency exchange OKEx announces to launch peer-to-peer marketplace for cryptocurrency trading in India. Indian citizens will buy or sell cryptocurency in Indian Rupees (INR).

Multiple Payments Options with no Transaction Fees

Currently, P2P marketplace of OKEx is offering pairs for only two cryptocurrencies – Bitcoin (BTC) and Tether (USDT) but more coins will available soon. In order to make the whole process easy and efficient, OKEx also enable common payments methods including NEFT, UPI, and IMPS. What’s more, there are no transaction fees at all.

Besides its launching in the country, OKEx also express its concern over uncertainty in crypto regulation. Even after ban removal by the Reserve Bank of India (RBI) on Supreme Court orders, most of the banks in India are not ready to open accounts for exchanges.  Recently, We recently reported that RBI is working with government ministries to prepare a legal framework to ban cryptocurrency.  

OKEx CEO Jay Hao is very confident after launching P2P marketplace in India as the country is ready to accept cryptocurrency and blockchain technology. Hao said:

“We always pay attention to the changes in the global crypto market and have great confidence in the Indian market. With more and more cryptocurrencies and projects with high quality appearing in India, we regard India as one of the most important incremental markets of the crypto and blockchain industry.”

OTC Desk in the Future

He further says that the company will connect Indians to the international cryptocurrency trading platforms. Moreover, he also hints about launching an OTC desk in India in the future.

“We believe that blockchain technology will eliminate barriers to transactions, and we’re committed to connecting Indian traders to the international crypto-trading marketplace by providing a one-stop service for Indian traders, including spot and many kinds of derivatives. What’s more, OKEx will also further improve the ecological layout in India and enhance the trading experience of Indian users. For example, we are about to launch the OTC desk in India soon. Please stay tuned.”

Leave a Reply

Your email address will not be published.