Back

Udyamee

Baki sab thik ? • 1y

𝗪𝗵𝗮𝘁 𝗪𝗲𝗻𝘁 𝗪𝗿𝗼𝗻𝗴: 𝗪𝗶𝘁𝗵 𝗭𝗲𝗯𝗽𝗮𝘆?🦓 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? • Regulatory Uncertainty: In April 2018, The RBI prohibited banks from providing any TXN services to 🪙 exchanges. • Operational Difficulties: The RBI ban meant Zebpay could no longer process TXN. This drastically reduced trading volumes and revenues. • 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 market💹

10 Replies
10
Replies (10)

More like this

Recommendations from Medial

Image Description
Image Description

Vikas Acharya

 • 

Medial • 7m

Do you guys think that CRYPTO will be all in one currency for exchange of goods and services in coming decade ?

8 Replies
1
6

mg

mysterious guy • 5m

RBI to inject $10 billion through a foreign exchange swap as it ramps up efforts to tackle a cash crunch in the banking system

Reply
6
Image Description
Image Description

Sanjeev Kumar

Success needs no mot... • 1y

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 Replies
3

Muttu Havalagi

🎥-🎵-🏏-⚽ "Finding ... • 5m

RBI Increases Gold Purchases The Reserve Bank of India has significantly increased its gold purchases, buying 50 tonnes so far in FY25. This move aims to diversify its foreign exchange reserves and mitigate revaluation risks, as part of efforts to m

See More
Reply
7
Image Description

Umesh

Student • 7m

[This post has been deleted by the creator]

2 Replies
1
Image Description
Image Description

Agantuk Ghosh

We sell quality not ... • 4m

I want to create crypto transactions like money transactions coz if bank destroyed by in cause, we only get only 5 lakhs as per rbi rule and why we give our money to bank

2 Replies
1
5
Image Description

Goutam Raval

Data analyst • 7m

HI Everyone RBI Has launched a new currency digital Same as crypto digital E rupees I was working on it They already given 8 National Bank Canara,SBI,Kotaka etc..., and it solve many Problems like international transactions minimum less charges and

See More
1 Reply
4

Mahendra Lochhab

Content creator • 1y

RBI has sent back 100 tonnes of its gold reserves from Britain to India. During the crisis in 1991, we had to send gold out overnight.

Reply
4

financialnews

Founder And CEO Of F... • 9m

"RBI Lifts 7-Month Ban on JM Financial Services, Allowing Financing Against Shares and Debentures" Following the RBI's decision to lift restrictions after seven months, JM Financial Services can now resume offering financing against shares and deben

See More
Reply
6

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