Says BINANCE CEO Changpeng “CZ” Zhao,
“The young demographic in India give an edge to adopt and build on new financial technologies, and I believe this will play a vital role in making India a global blockchain innovation center to also spur cryptocurrency adoption throughout the larger public in the country.”
In addition to providing an advanced cryptocurrency trading platform to Indian users, Binance listed the India-based startup Matic Network on its launchpad platform for its initial round of fundraising, and Marlin Protocol secured a $3 million in seed funding from the company’s investment arm.
Binance also licenses its matching engine and wallet technologies to several partner platforms for fiat-crypto trading in Uganda, Jersey, Singapore and the US.
India remains a hotspot of regulatory uncertainty with the country’s central bank, Reserve Bank of India (RBI), issuing repeated warnings about cryptocurrencies and banning banks that provide services to crypto-related businesses. However, the bank admits to banning cryptocurrencies without doing any research to weigh the pros and cons of the technology, reports Hard Fork.
Meanwhile, India is grappling with money laundering scandals that have fleeced traditional banking customers out of billions.
