Zebpay has come a long way from Zeb IT services in Ahmedabad and Zeb Ventures Pte Ltd registered in Singapore to Awlencan Innovations Malta Ltd. The exchange’s globe trotting ventures are undoubtedly a dream of many crypto traders.
It’s exit on September led to speculations of it going global, it appears that it’s vision has finally reached it’s last milestone. Zebpay recently opened it’s doors to EU residents, but it is no longer supported in India. Even US and Japanese residents or citizens cannot register on the exchange.
Heading towards a Global Launch
Zebpay commenced operations in Europe under a parent company registered as Awlencan Innovations Malta Private Limited. In lieu of it’s new launch promo makers can carry out a fee-free trade and receive 0.25% rebate till December 31, 2018. Presently, traders from only 21 European union countries are allowed to use the fiat based services.
Is ZebPay GDPR compliant?
The global terms and conditions are a strong indicator of Zebpay’s adherence to GDPR compliance. It offers users the right to remove their data from the exchange and prevent them from using personal information.
OTC Trading
Zebpay provides both services, an OTC service plus a spot exchange for trading VFAs. In the current version of the app, OTC trading is not available in the present version of the app and it is not sure whether it will be a separate app or will launch as a new upgrade to the existing app.
Zebpay’s Shocking Exit
On September 28, Zebpay announced that it will be stopping its exchange business on the very same day. The shut down decision was attributed to RBI’s unfavourable policy which banned banks from supporting any cryptocurrency. The exchange said,
“The curb on bank accounts has crippled our, and our customer’s, ability to transact business meaningfully. At this point, we are unable to find a reasonable way to conduct the cryptocurrency exchange business.”
Zebpay’s exit created a stir in the crypto community and competitors equally. It was India’s largest cryptocurrency exchange, and to shut down without warning was not an easy thing to believe.
The wallet service is still active and users can deposit or withdraw cryptocurrencies on the exchange.
