CrossTower launched its own digital assets trading platform in India amid crypto regulatory uncertainty.
At the present time, no one is certain about the future decision of the Indian government over crypto regulation. But still crypto companies are expanding their business in India without taking any tension of these uncertainty and future risks.
According to a Reuters report, CrossTower hired a total of 35 people to handle their crypto exchange in india. And the CEO of CrossTower claimed that they will hire more workers to increase the team. It is expected that they may hire 100 people in total by next 6 to 9 months.
This move of CrossTower is full of risks. Because in the present time no one hints from the Indian government over crypto regulation came. But only rumours are only spreading hopes for the Indian crypto community that there are chances for perfect regulation of crypto.
Kapil Rathi, CEO and founder of the CrossTower, admitted that the situation of India from the point of crypto regulation is totally uncertain but still they will see toward the positive side and they will take risks.
“company is taking “a calculated risk” in entering India”
According to the report of the Chainalysis’ Global Crypto Adoption Index for 2021, India lies at the second position in the whole world to adopt crypto.
Huge demand and adoption of crypto in India, shows big crypto business opportunity for the crypto Companies. Recently with Kraken, Bitfinex and KuCoin revealed their plans to expand their crypto business in India.