Indian cryptocurrency exchange Zebpay has launched its first crypto-to-crypto trading pair.
Established in 2015 and headquartered in Mumbai, Zebpay claims to be India’s largest cryptocurrency exchange. In March, the company said that its app had more than three million downloads, “making it the most downloaded cryptocurrency app on both iOS and Android in India.”
Citing that its “engineers have been working round-the-clock to launch crypto-to-crypto trading,” the exchange detailed this week:
Zebpay is excited to announce the launch of crypto-to-crypto trading. Now, you can easily exchange one cryptocurrency for another…The first pair we’re introducing is ETH/BTC. More crypto pairs coming soon.
The “crypto-to-crypto trading feature will be available in the new app update: Android version 2.0.14 and iOS version 2.0.24,” the exchange clarified, adding that the fees for all crypto-to-crypto transactions will be charged in bitcoin.
Zebpay’s crypto-to-crypto trading launch follows the announcement by the Reserve Bank of India (RBI) which bans banks and financial institutions under its control from providing services to cryptocurrency exchanges.
According to Zebpay, while it is estimated that 10 million Indians are investing in financial markets, 5 million Indians are said to be trading cryptocurrencies.The crypto community has been growing in India