OKEx has launched a peer-to-peer trading platform and fiat onramp in India.
Listen to article Cryptocurrency exchange OKEx has announced a new peer-to-peer trading platform launching Aug. 5, which allows users to buy digital currencies with zero transaction fees using Indian rupees.
The announcement comes hot on the heels of reports that the Indian government is planning to pass a law making cryptocurrency trading illegal in the country.
Easy fiat onramp supports major Indian payment platformsAt launch the platform is offering Bitcoin and Tether pairs for INR, with support for further cryptocurrencies promised soon.
OKEx describes the platform as a marketplace for traders to make fiat-to-crypto transactions via escrow.
Users may also utilize the most popular Indian payment methods including UPI, IMPS, and NEFT.This fiat onramp for INR will link directly to traders' existing OKEx accounts, allowing easy access to the wider OKEx trading ecosystem.
Indian crypto ban lifted in March but still looms largeThe announcement acknowledges that the regulatory position in the country is still unclear following the Indian Supreme Court's overturning of the Reserve Bank of India's blanket ban on banks dealing with cryptocurrency firms earlier this year.
As Cointelegraph reported just hours ago, there are now reports that the Indian government is actively working towards a new law banning cryptocurrency trading altogether.
OKEx CEO Jay Hao told Cointelegraph that the company had been studying the market keenly for some time.
"We are willing to support our Indian partners and are hopeful that we can work with regulators to clarify their main doubts and issues with cryptocurrencies and help build a framework that allows this booming industry to continue to flourish."
OKEx Launches Indian P2P Trading Platform Despite Legal Uncertainty
Published on Aug 5, 2020
by Cointele | Published on Coinage
Yearn.finance yields are plunging: is this a risk for the Ethereum DeFi darling?
Due to a confluence of trends including but not limited to DeFi becoming crowded, venture capital firms launching "Industrial-scale farms," and Ethereum-based coins dropping, the yields offered through the top "Farms" have plunged.
Bill Proposes National Crypto Regulatory Framework
Sep 24, 2020 at 16:00 UTCUpdated Sep 24, 2020 at 16:28 UTC.A new bill could bring cryptocurrency exchanges under a single federal framework.
A New Era of Media Begins With Tokenization
The solution, according to various media innovation prognosticators, is the "Passion economy." The argument goes that, since anyone can create content now, it follows that the lumbering media institutions of the past will be unbundled and replaced with a swarm of individuals: Smart, sharp, upstart newsletter writers, podcasters and maybe even TikTokkers.
Liquality Releases In-Browser Atomic Swap Wallet for DeFi
Sep 24, 2020 at 16:18 UTCUpdated Sep 24, 2020 at 16:42 UTC.On Thursday, ConsenSys-incubated startup Liquality released a new wallet that lets you atomically swap digital assets directly from your browser.