US crypto exchange CrossTower expands to India

US crypto exchange CrossTower expands to India


United States-based cryptocurrency exchange CrossTower is expanding operations to India despite the ongoing legal uncertainty over local crypto regulation.

CrossTower has set up a local division in India and launched a cryptocurrency trading platform to capture the growing multi-billion dollar market, Reuters reported Sept. 6. CrossTower India has already onboarded 35 employees and is looking to expand its team up to 100 people in the next six to nine months.

With $7.6 million in daily trading at the time of writing, CrossTower expects its Indian exchange to contribute to its plans to expand further across the world. “India will play a pivotal role and we plan to use the country as a hub to expand into other geographies,” CrossTower co-founder and CEO Kapil Rathi said.

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CrossTower’s entrance into the Indian market comes amid the ongoing uncertainty over the legal status of cryptocurrencies like Bitcoin (BTC) in the country. Several alleged government sources had previously stoked fears of an upcoming crypto ban, reportedly suggesting that

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