India’s cryptocurrency exchange Zebpay announced on Friday it officially commenced operations from Malta. The crypto exchange reported it received a welcome from Malta’s Junior Minister for Financial Services, Digital Economy and Innovation within the Office of the Prime Minister Silvio Schembri who expressed his satisfaction over Zebpay’s decision to join Malta’s Blockchain ecosystem.
Founded in 2014, Zebpay claims its brand is widely trusted in India, and its crypto exchange has served the market at scale, securing 60% market share in the country. The exchange revealed it will use Malta as its base in pursuit of European growth. The Zebpay VFA exchange that has launched in the region will be operated by Malta-based Awlencan Innovations Malta Limited. Zebpay reported:
“Malta continues to be a fast-rising hub for innovators, entrepreneurs, and developers in the crypto and blockchain space, with its forward-thinking regulatory agenda. Malta provides a legally certain and safe environment for crypto innovators, customers, and investors. Being 100% compliant is in the ethos of Zebpay and the company is thankful to the Maltese government for the forward-thinking regulation.”
Speaking about the expansion, Zebpay CEO, Ajeet Khurana, added:
“Governments and regulators around the world are waking up to the potential of Blockchain based technologies. But Malta stands out with its progressive regulations for this emerging sector. Choosing Malta as our global launchpad was a no-brainer, and I would like to wholeheartedly thank Prime Minister Dr. Joseph Muscat for his visionary approach.”