CrossTower today launched its crypto trading platform in India. According to the official communique, the company said to have launched the platform was methodically built on a robust, scalable, and resilient infrastructure with best-in-class safeguards, services, and capabilities.
As a part of its launch, CrossTower is offering its first 1,000 Indian customers an opportunity to earn extra Bitcoin upto Rs 500 on their first trade on the exchange.
The Indian cryptocurrency market grew from USD 923 million in April 2020 to a staggering USD 6.6 billion in May 2021, which is an average of over 50 per cent monthly growth. Among 154 nations, India ranks 11th in cryptocurrency adoption, according to a report by Chainalysis, a well-respected blockchain data platform.
With CrossTower, any individual in any village, town or city in the country will be able to start cryptocurrency trading with the trusted CrossTower platform using Indian rupees and access over 40 cryptocurrencies (tokens).
CrossTower was co-founded in 2019 by Kapil Rathi, Chief Executive Officer and Kristin Boggiano, President, to bring digital asset trading mainstream. Both bring over 20 years of experience in managing traditional exchanges and financial services businesses in the US.
Kapil Rathi, co-founder and Chief Executive Officer said, “In the last couple of years, India has seen a revolution in crypto-investing. The new generation of investors in India has welcomed cryptocurrencies as a tool for financial freedom. With advancements in technology, crypto markets have proven a key driver in the democratisation of wealth. Our team’s unique combination of expertise will allow us to make investments in cryptocurrencies simple and accessible for any individual. CrossTower is also thrilled to participate in policy-making that will drive India to be a premier leader in the cryptocurrency industry on a global level.”
Vikas Ahuja, Chief Executive Officer of CrossTower India said, “With CrossTower, India will be one of the leading nations in the digitisation of global capital markets. The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, is currently being reviewed and is slated for the next session of the Indian parliament. With India being the world’s largest democracy, this bill will play an important role in shaping the future of cryptocurrencies for the Indian community. CrossTower is excited to bring global education, a futuristic understanding of money, as well as the thrill of trading cryptocurrencies to India.”