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Indian Crypto Executives Launch Pi42 Crypto Futures Exchange – Crypto News

Published

2 years ago

February 7, 2024

Dripp

Indian crypto pioneers, Nischal Shetty and Avinash Shekhar, have joined forces to unveil Pi42, a groundbreaking addition to India’s crypto landscape. Pi42’s emergence marks a pivotal moment for the country’s digital currency enthusiasts, offering a localized platform tailored specifically for the needs of Indian traders.

Pi42 steps into the scene as a rupee-denominated futures exchange, strategically designed to cater to the growing demand for derivative trading within India. Recognizing the necessity for a platform that aligns with the preferences and regulatory framework of the Indian market, Pi42 aims to fill this void by providing a secure and accessible avenue for crypto trading.

To ensure transparency and regulatory adherence, Pi42 has initiated the process of registering with the Financial Intelligence Unit, reinforcing its commitment to upholding anti-money laundering guidelines. By prioritizing regulatory compliance and implementing robust security measures, Pi42 aims to instill confidence among investors and traders alike.

Nischal Shetty and Avinash Shekhar to Lead Pi42 Crypto Futures Exchange

Nischal Shetty and Avinash Shekhar, seasoned veterans in the Indian crypto sphere, take the helm at Pi42, driving the company’s growth strategy and ensuring operational excellence. With their combined expertise, they oversee crucial areas such as finance, operations, and regulatory compliance, laying the foundation for Pi42’s success in the competitive crypto market.

Pi42’s current team, comprising approximately 20 individuals, forms the core workforce behind the exchange’s operations. As Pi42 embarks on its journey, plans for expansion and scaling up operations are already in motion.

In a demonstration of confidence in their venture, Nischal Shetty and Avinash Shekhar have injected initial capital into Pi42. Looking ahead, the founders are poised to pursue external funding opportunities to support the exchange’s growth trajectory.

Pi42’s Launch Aligns with Vision to Expand Indian Crypto Market

Nischal Shetty shares his vision for Pi42, emphasizing its pivotal role in expanding the Indian crypto market. Pi42 is more than just a trading platform; it represents a catalyst for innovation and growth within the Indian digital currency ecosystem. By offering sophisticated trading products and services, Pi42 aims to empower Indian traders and investors, unlocking new opportunities and driving the adoption of cryptocurrencies across the nation.

Against the backdrop of recent regulatory developments in India’s crypto landscape, Pi42’s launch underscores the importance of regulatory compliance in the digital currency space. With show-cause notices issued to offshore cryptocurrency platforms for non-compliance with anti-money laundering legislation, the need for platforms like Pi42, committed to regulatory adherence and transparency, becomes even more apparent.