India is the world’s second most populous country. It has huge market potential for all kinds of businesses, especially cryptocurrency exchanges. Recently, the global exchange and trading platform, OKEx launched a crypto trading platform in India.
The new platform makes users be able to purchase cryptocurrencies with Indian Rupee with zero transaction fee.
Currently only Bitcoin and USDT are available on the platform. The OKEx planned to add more cryptocurrencies to its platform.
OkEx launched a peer-to-peer platform in India
OKEx aimed to provide a peer-to-peer platform to Indian population in order to buy and trade cryptocurrencies easier. They support all most common payment methods such as UPI, NEFT and IMPS.
The OKEx platform is attracting existing crypto users and also new investors by its user-friendly services. The services include, “zero transaction fee, quick KYC process and supporting multiple payment methods”.
Although the cryptosphere is facing lack of clarity in India, it is estimated that over 5 million people in India are owning some kind of crypto assets.
Currently, the Reserve Bank of India lifted the crypto ban, which lead to an increase in Bitcoin trading volume in India. The data from CoinDCX show that the BTC/INR increased by 1031.4%.
OKEx launched a crypto trading platform in India; as one of the largest markets
Furthermore, India is one of the largest remittance markets. A lot of people attracted to use cryptocurrencies in order to send funds overseas. So, the combination of this large remittance market and the new regulation on cryptos in India make this country as a suitable target for financial institutions, especially crypto exchanges. Most of the global exchanges are targeted to launch their platform in India as well and take the profit from this large market.
OKEx gives away 30,000 USDT
In addition to those above, OKEx launched the “OKEx Welcome India Quest” campaign. The aim is to mark its official launch in India. During this campaign the company will give away around 30,000 USDT. It started on August 5, 2020, and will go on until August 15, 2020. The users who interested in participating in this campaign need to do simple tasks such as signing up on the platform, trade on the peer-to-peer platform, posting on social media, referring friends or answer to quality questions.