Coinstore Crypto exchange will open 3 new offices in India

Singaporean crypto exchange, Coinstore is entering India with three new offices to enter the Indian crypto market despite huge uncertainty about legal status. 

At present, a crypto community of India is worried about their crypto-related activities because “India crypto bill 2021” is currently under introduction in the Indian lower house parliament and outside headlines of the bill are indicating India is going to ban crypto and they will only adopt blockchain technology. 

Besides all this panic, there are many crypto inclined services outside and inside in India, which are pushing their crypto-related services to the next level without caring about any kind of legal & illegal status of crypto. 

In the latest, Singapore’s Coinstore Crypto exchange planned to enter the Indian crypto market. For this, Coinstoreis allocated around $20 million to establish 3 offices. 

The new initiative of the CoinStore Is aimed to launch web and app-based crypto spot and futures trading for crypto users. And crypto exchange will offer only 50 crypto assets in India and also will mandate KYC verification for all the users. 

Jennifer Lu, co-founder at Coin store, citing this matter stated that the main aim of Coinstore is only to bring simplified crypto services to the Indian crypto community so that people can easily adopt crypto. Further continues: 

“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.”

Here, the crypto exchange didn’t point out the matter of the crypto bill of India, which is likely to ban all private crypto assets. Right now all the crypto experts are debating on the definition of private crypto assets. 

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