At Kraken, we’ve long served the Indian market with a full suite of exchange products, including spot, derivatives and futures, all complete with best-in-class security and execution.
Unfortunately, our growth in the market had been limited by a 2018 ruling issued by the Reserve Bank of India (RBI) that prohibited banks from opening accounts for crypto businesses.
That’s why we were thrilled to see the Indian Supreme Court overrule the RBI’s ban last week.
As believers in the potential of cryptocurrencies to promote financial freedom, we’ve long seen our services as essential in opening access to Bitcoin and other cryptocurrencies.
With its youthful and tech-savvy population and status among the world’s largest gold and remittance markets, we’re excited to again help Indian customers begin saving for the future and sending value to family and friends overseas.
Kraken Head of Global Business Development Sunny Ray, who founded the first regulated crypto exchange in India, Unocoin, said:
“This is an incredibly emotional moment for India. Satoshi created Bitcoin because he felt that central banks were inefficient. The fact that the crypto industry just battled, and won, against the central bank located in the second-most populous country in the world is a massive achievement. We fought for 1.5 billion people to have the right to access crypto.”
Armed with the ability to expand our offering, Kraken is excited to recommit resources to grow its service in the region through new features and offerings.
Stay tuned for more updates and announcements from Kraken as the year unfolds. The future is bright for crypto in India, and at Kraken, we’re going to be there every step of the way.
Thank you for choosing Kraken, the secure and trusted digital asset exchange.
The Kraken Team
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