Disregarding India’s unpredictive position towards crypto regulations, Singapore crypto exchange Coinstore has allocated a $20 million fund to set up three new offices in the Indian cities which include Bangalore, Delhi and Mumbai.
Coinstore stated that it would launch its web and app platform in India for spot and futures trading, opening up a new crypto investment opportunities for Indian investors. The platform mandates KYC verification before allowing users to purchase and sell over 50 cryptocurrencies.
Co-founder Jennifer Lu said: Coinstore’s goal is to simplify crypto adoption and trading experience
“We are truly excited to have launched our app in India, with over 20% of our active users from India, we decided to start local operations to fully support our Indian users.”
Coinstore has also announced that there would be 100 immediate local openings for customer support, marketing and operations division.
The Indian parliament announced it would introduce 26 new bills in the Winter Session, which included a crypto bill that aims to ban private cryptocurrencies while creating an official digital currency.
