India’s ‘Crypto Spring’ as Wave of New Exchanges Launch

[Oxumare]

Tradehorn has become the latest startup to launch a cryptocurrency exchange in India after the Supreme Court repealed the Reserve Bank’s ban.

The repeal of the Reserve Bank of India’s (RBI) crypto ban has driven a boom in exchanges launching in India, offering hope that the growth of a robust local industry will incentivize lawmakers to maintain India’s permissive regulatory apparatus.

In March, India’s Supreme Court repealed the Reserve Bank of India’s (RBI) ban on financial institutions providing banking service to businesses operating with virtual currencies — legitimizing India’s cryptocurrency firms.

In recent weeks, Indian startup Tradehorn became the latest domestic exchange to launch,  local derivatives platform Delta Exchange announced strategic funding from New York-based CoinFund to expand operations, and new fiat-to-crypto exchange BitPolo also went live.

The RBI ban’s repeal also sparked an initial rush of interest from global players, with top exchanges such as OKEx and Binance launching fiat gateways for Indian rupees and partnering with local trading platforms.

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