๐Ÿš€ Medial just raised $500k in Pre-Series A. Tap to read the announcement. ๐ŸŽ‰
Login

Back to feeds

Udyamee

Stealthย โ€ขย 6m

๐—ช๐—ต๐—ฎ๐˜ ๐—ช๐—ฒ๐—ป๐˜ ๐—ช๐—ฟ๐—ผ๐—ป๐—ด: ๐—ช๐—ถ๐˜๐—ต ๐—ญ๐—ฒ๐—ฏ๐—ฝ๐—ฎ๐˜†?๐Ÿฆ“ India's crypto king Zebpay, est. in 2014, quickly became India's largest crypto exchange. At its peak, it was handling over $1 billion worth of TXN. Zebpay was a perfect startup with strong leadership and innovative product, But good time didn't last long. So What Went Wrong? โ€ข Regulatory Uncertainty: In April 2018, The RBI prohibited banks from providing any TXN services to ๐Ÿช™ exchanges. โ€ข Operational Difficulties: The RBI ban meant Zebpay could no longer process TXN. This drastically reduced trading volumes and revenues. โ€ข Lack of Clear Regs: Due to the govts unclear regulations, investors lost confidence in crypto trading. With this came financial strain. Bounce Back: On Sep 28, 2018, Zebpay shutdown its exchange operations in India due to the "extremely difficult" regs. Soon in 2020, the RBI lifted the ban. Zebpay then resumed its ops and now it supports over 100 cryptocurrencies maintaining a signif presence in market๐Ÿ’น

10 replies10 likes
Replies (10)

More like this

Recommendations from Medial

Varun Jeph

ย โ€ขย 

The NineHertzย โ€ขย 6d

Binance crypto exchange reported a $24 billion inflow from its 250 million global user base in 2024.

0 replies1 like

Comparison Isn't Allow

Stealthย โ€ขย 6d

Anyone Interested in Forex & Crypto Trading...

0 replies1 like
Image Description
Image Description

Kevin Jojo

Stealthย โ€ขย 8m

How many of you think that crypto trading also should be common and more people should start trading in crypto mostly Indians are always into the same pattern of stocks and currency trading Also will crypto trading have a hike of no of user's in Ind

See More
5 replies5 likes
Anonymous
Image Description
Image Description

Anonymous

Stealthย โ€ขย 8m

Story of RBI: RBI: โ€œLetโ€™s call all the big players, discuss how we can pick up user adoptionโ€œ *It actually happens* RBI: โ€œtime to ban their licenseโ€œ

7 replies12 likes
Anonymous
Image Description

Anonymous

Stealthย โ€ขย 4m

It is reported that by the end of 2024, China may lift the ban on Bitcoin. The ban on exchanges came into effect in China in 2017. In 2021, the country also prohibited Bitcoin trading and mining. The potential lifting of this ban could ignite the ma

See More
1 replies5 likes
Image Description

Umesh

Stealthย โ€ขย 2d

"WTF is happening" Another new scam in the crypto market. Like everyday today also I was thinking of investing some money in crypto. so I opened "CoinDCX" app and checked today's top gainers and losers then I did the same process with "Zebpay" . B

See More
2 replies1 like
Anonymous
Image Description

Anonymous

Stealthย โ€ขย 5m

Fashion retailer Raymond has approved the re-appointment of Gautam Singhania as Managing Director for a term of five years, effective July 1, 2024. The company confirmed that the re-appointment aligns with the requirements stipulated by the Stock Ex

See More
1 replies6 likes
Image Description
Image Description

Sanjeev Kumar

Stealthย โ€ขย 8m

Looking for fintech guys to brainstorm on providing payment / banking solutions to crypto exchange and traders. Currently lot of issues are there for crypto deposit and withdrawal in India.

2 replies3 likes
Image Description
Image Description

BigLoot IN

Stealthย โ€ขย 2m

RBI has banned four NBFCs from issuing loans, including DMI Finance, Navi Finserv, Asirvad Finance, and Arohan Financial. The ban will take effect from October 21, 2024.

4 replies3 likes
Image Description

Atharva Deshmukh

Stealthย โ€ขย 6m

Brief History of RBI The Reserve Bank of India (RBI) was established on April 1, 1935, based on the Hilton Young Commission's recommendations and the Reserve Bank of India Act, 1934. Initially, the RBI took over the functions of the Controller of

See More
2 replies10 likes

Download the medial app to read full posts, comements and news.