India, 07 September 2021: CrossTower, one of the world’s fastest and leading trading platforms and digital asset investment firms, today announced the launch of its crypto trading platform in India. The platform was methodically built on a robust, scalable, and resilient infrastructure with best-in-class safeguards, services, and capabilities. CrossTower offer the most competitive fees to the Indian crypto community.
CrossTower is ranked fourth out of 152 global exchanges by CryptoCompare – a central and leading authority for global cryptocurrency data. The ranking was based upon asset and market quality, data, security, KYC, regulations, and the team. Besides offering competitive pricing for its users, the company also uses sophisticated compliance infrastructure and top security measures to protect customers. As a part of its launch, CrossTower is offering its first 1,000 Indian customers an opportunity to earn extra Bitcoin upto INR 500 on their first trade on the exchange.
The company’s launch in India is at a pivotal time for the rapidly growing Indian market. 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. With over 1.5 crore Indians invested in crypto already, the Indian market is positioned to significantly grow. Among 154 nations, India ranks 11th in cryptocurrency adoption, according to a report by Chainalysis, a well-respected blockchain data platform.
For India, CrossTower has built a business that permits everyone, from young adults to business tycoons, making investing in cryptocurrency easiest and safest. Any individual in any village, town or city in the country can 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. CrossTower operates fully regulated crypto exchanges in the US and Bermuda, servicing 81 countries. Rathi has built exchanges over the past 20 years, including at the New York Stock Exchange, BATS, International Securities Exchange (ISE) and Chicago Board Options Exchange (CBOE).
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.”
CrossTower is a global thought-leader and a participant of the Internet and Mobile Association of India (IAMAI), Blockchain and Crypto Assets Council (BACC), Global Digital Asset and Currency Association (Global-DCA) and the Digital Asset Regulatory Legal Alliance (DARLA). Through these organisations, CrossTower facilitates policy that will enhance the development and innovation of finance while emphasising the protection and safety of customers’ assets.
Founded in 2019 and launched in 2020, CrossTower is a digital assets capital markets firm founded by financial industry veterans on a mission to bring digital asset trading and investing to institutional and professional traders. The firm first launched a multi-asset trading platform last year and has since expanded to include a capital markets desk with best-in-class services and products tailored to the needs of hedge funds, family offices and other markets participants. CrossTower has leveraged its vast experience in trading, technology, operational infrastructure, innovative pricing, regulations, and compliance to open digital assets to a sophisticated audience. CrossTower was ranked #4 out of 152 exchanges, receiving the highest (AA) ranking from CryptoCompare in the latest Exchange Benchmark.