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08-09-2021 | Asia

The world's largest cryptocurrency exchange CrossTower has launched a trading platform in India in order to capture growing domestic crypto market.

CrossTower, one of the world's largest trading and digital asset investment organisations, has launched its crypto trading platform in India. CrossTower stated in a statement that the platform is based on a strong, scalable, and resilient infrastructure with best-in-class safeguards, services, and capabilities. The Indian crypto community should expect the most competitive rates from CrossTower.

By CryptoCompare, a central and leading authority for global cryptocurrency data, CrossTower is ranked fourth out of 152 global exchanges. Asset and market quality, data, security, KYC, laws, and the team all factored into the ranking.

Customers are safeguarded by the company's comprehensive compliance infrastructure and security procedures, in addition to low pricing, according to the statement. CrossTower is giving its first 1,000 Indian users the chance to earn extra Bitcoin valued up to Rs 500 on their first trade on the exchange as part of its launch.

“In the last few of years, India has experienced a revolution in crypto-investing,” said Kapil Rathi, co-founder and Chief Executive Officer, of the India launch. In India, a new generation of investors has embraced cryptocurrency as a means of achieving financial independence.

Crypto markets have shown to be a crucial driver in the democratisation of wealth, thanks to technological breakthroughs. Our team's unique blend of skills will enable us to make cryptocurrency investments simple and accessible to anybody.

CrossTower is also ecstatic to be a part of policymaking that will propel India to become a worldwide leader in the cryptocurrency industry.”

The Indian cryptocurrency market has been reported to have grown from USD 923 million in April 2020 to USD 6.6 billion in May 2021, representing a monthly growth rate of more than 50%. More than 1.5 crore people in India have invested in cryptocurrencies.

India ranks 11th among 154 countries in terms of cryptocurrency usage, according to a report by Chainalysis.

CrossTower said, it has established a business in India that permits everyone, from young adults to business tycoons, to invest in cryptocurrency in the simplest and safest way possible.

“Anyone in any village, town, or city across the country may utilise Indian rupees to start cryptocurrency trading on the trusted CrossTower platform and access over 40 cryptocurrencies (tokens)," according to the company.

CrossTower was formed in 2019 by Kapil Rathi, Chief Executive Officer, and Kristin Boggiano, President, with the goal of bringing digital asset trading to the general population. CrossTower is a cryptocurrency exchange that operates in 81 countries and has fully licenced exchanges in the United States and Bermuda.

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