Coinrecoil another crypto exchange launched

CoinRecoil, the company which challenged the Reserve Bank of India (RBI) circular against the banking ban on cryptocurrencies has launched its operations.The company has launched crypto-to-crypto exchange for Indian users with the aim of addressing challenges in the crypto trading space, claiming to offer trading features ensuring safe, secure, and seamless trading experiences for users. It plans to support the emerging blockchain and crypto projects in India.

Kali Digital was the first company to file the writ petition in Delhi High Court in April 2018 against RBI, the Central Government, and the GST Council, challenging the RBI circular prohibiting banks and financial institutions from providing any services related to virtual currencies.

CoinRecoil is a startup initiative of three blockchain enthusiasts, Kunal Barchha, Gopal Modi, and Rupesh Panchal from Ahmedabad, Gujarat. The startup has been set up with a vision of working for the digital eco-system and to bring disruption with an aim to provide the most efficient, user friendly, and transparent digital assets exchange.

Rupesh Panchal, Director of CoinRecoil said, “CoinRecoil is ready with the technical framework to launch Fiat-to-crypto platform once necessary regulatory approvals are in place. Although we would like to expand our presence overseas, India will remain a key market for our business operations".

The global cryptocurrency market, though at a nascent stage, is bringing a revolutionary change in the digital transactions space and value of assets across the globe. From USD 5 billion a few years ago, the crypto market has grown to around USD 250 billion in September 2018. It is expected to cross the USD 1 trillion mark by 2020. Trading volumes in the crypto space has grown multi-fold to reach USD 12-14 billion worth of trades per day.

Coinrecoil is another exchange in India for crypto assets where already exchanges like zebpay,koinex,coindelta,bitbns,unocoin etc..Soon coinrecoil plans to introduce more crypto assets on their exchange.
Posted On: Sep 27, 2018

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