Singapore Crypto Exchange Zebpay Launches Its Services In Australia
It seems that Australia will be the latest country to receive the services of Zebpay, a Singapore-based cryptocurrency exchange. According to the official press release, the services will start to be operational in the country now.
The company is ready to open a new office in Melbourne, which is known as the fintech hub of the country. Now, Australian customers will get access to Zebpay’s services via smartphone apps or desktop. The exchange includes several trading pairs. Some of the main ones are Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ripple’s XRP and Litecoin (LTC).
In order to be able to conduct its operations in Australia, Zebpay has recently acquired a special license that will let it operate in the country, the Australian Transaction Reports and Analysis Centre permit. The company has also become a member of the local Digital Commerce Association this year.
The Australia Director of Zebpay, Sandeep Khurana, has affirmed that the country is an ideal market for the brand and that its regulation is very clear and stable, which is a good thing for companies as they have more openness to innovation in countries which support their growth with proper legislation.
He could be referring to the fact that the company had to shut down its Indian services last year because of the crypto ban enacted by the Reserve Bank of India (RBI). The RBI decided that banks could not provide services for companies involved in cryptos last year, so this has started a huge problem in which the company had to completely shut down its activities.
The company had to shut down in October. Before that, it stopped all deposits and withdrawals in the local fiat currency on July 4, when the ban was officially started. Even now people are still discussing the issue in India and it does not seem that it will be completely solved any time soon.
Because of cases like this one, Zebpay has all the reasons in the world to be concerned with regulations which are not clear and stable like the one in Australia, which supports crypto-related companies.