HashCash entering Indian crypto market is the latest buzz on the media. Reports reveal that the acclaimed blockchain company HashCash Consultants is priming the market with an initial investment in the light of the recent Supreme Court decision.
The Indian crypto-community will remember 4th march 2020 as the date when the country’s Supreme Court ruled out the ban using banking services for crypto-trading.
Since the RBI ban was imposed in 2018, a majority of Indian crypto-exchanges had disappeared from the scene by either shifting overseas or shutting down their business. Now, as India is on its way to legalizing cryptocurrency trading, expectations are high for crypto-firms who are looking forward to a booming business. The good news is that some big foreign crypto-exchanges are also looking forward to stepping to this Indian crypto-market, which will be a great opportunity for many.
The first foreign crypto-exchange to step into the Indian market was a Maltese firm Binance that served more than 1 billion people in the country after acquiring WazirX, the local crypto-exchange. This is also believed to be the foundation of HashCash entering Indian crypto market. The acquisition also enabled the Indian cryptosphere to purchase and sell cryptocurrencies in the local currency that is the Indian rupee even before the news regarding the lifting of the ban came out.
HashCash entering Indian crypto market
Singapore based crypto firm ZPX is also contemplating to launch its operations in India, keeping in mind the bright prospects of crypto-trading.
Per the HashCash entering Indian crypto market reports, the global blockchain company, HashCash Consultants is ready to pour in $10 million in the Indian crypto industry by 2020.
HashCash, the holding company of the US-based crypto-exchange PayBito, holds a track record of putting money in local crypto and blockchain ventures all over the world to make them a success.
Commenting on the HashCash entering India crypto market news, chief executive officer (CEO) Raj Chowdhury expresses that reinstating cryptocurrency activities in India will increase the potential. It would enable new cooperations and ventures for the international players that will lead to numerous benefits for the crypto industry as well as the Indian economy.
He furthers that there could be no better time for this decision as the crypto-scene is still in the developing stage in the country. He feels this might be the right time to get the best results keeping in mind the rising trends of cryptocurrencies.
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