- The reserve bank of India’s crypto ban repeal has resulted in a local boom when it comes to platforms launching in the nation.
- This new boom is offering hope that the growth of the local industry will incentivise regulators in the nation to maintain India’s permissive regulatory status.
The reserve bank of India’s crypto ban repeal has resulted in a local boom when it comes to platforms launching in the nation.
This new boom is offering hope that the growth of the local industry will incentivise regulators in the nation to maintain India’s permissive regulatory status.
Earlier this year in March, the Supreme Court of India repealed the reserve bank of India's ban on the financial institutions providing banking services to numerous different companies operating in crypto and blockchain.
This gave a legitimisation to many companies working in the industry in India. Over the past few weeks, Tradehorn, a start-up from India became the latest platform to launch in the country. The ban and its repeal triggered a sudden rush of interest from international players with some of the top platforms in the industry such as Binance launching Fiat giveaways for Indian rupees and or even teaming up with local platforms for trading.
The founder and CEO of the local Tradehorn platform, Rahul Vinakiya has said that the company is looking to simplify its experience of trading crypto assets, especially for new people entering the industry. Vinakiya further said:
“We are here to serve novice traders, who are absolutely new to this and spread awareness of crypto as an innovation. For us, how we measure [the] success of this platform depends on whether my uncle would be able to use this.”
The platform is getting ready to launch a mobile application that will have 24-hour support services included on it. This will be exciting as it is the stepping stone for India to get more cryptocurrency companies, exchanges, and business.