One in every of India’s largest cryptocurrency buying and selling platforms and liquidity aggregators, CoinDCX, has introduced its partnership with Malta-based alternate OKEx.
This wasn’t all, nevertheless, because the Indian alternate additionally introduced the launch of its new DCXfutures product to cater to the rising calls for for entry to Futures, Choices and better leverage buying and selling for the Indian market.
DCXfutures will permit as much as 15x leverage buying and selling for standard cryptocurrencies corresponding to Bitcoin (BTC), Ethereum (ETH), XRP, Bitcoin Money (BCH), Litecoin (LTC), EOS, Cardano (ADA), and Tron (TRX).
CoinDCX CEO and Co-founder Sumit Gupta welcomed the announcement and mentioned,
“With the massive potential of cryptocurrency markets to speed up financial progress and wealth era in India, we consider that this collaboration takes India one step nearer to becoming a member of the ‘5 trillion greenback membership’ as one of many fastest-growing economies on the earth, permitting us to avail of latest alternatives and tackle new challenges.”
Presently, the DCXfutures possibility can solely be accessed by way of an invitation. The press assertion highlighted that the general public will solely have entry to DCXfutures from Q2 of 2020.
Increasing on India’s potential to drive cryptocurrency adoption exponentially, Zac Zou, Head of OKEx India, mentioned,
“India is primed to be the driving drive behind the mass adoption of cryptocurrencies, which is why we’re eager on including extra equitable currencies to the ecosystem.”
This announcement comes on the heels of the Malta-based alternate Binance saying that it’s integrating its P2P buying and selling platform with one among India’s largest crypto-exchanges, WazirX. With an increase within the variety of exchanges primarily based out of India partnering with international exchanges, the regulatory panorama for crypto appears to be like pretty constructive within the nation. India continues to have a reasonably giant unbanked demographic that may in the long term, profit from publicity to digital property.