Zebpay, India’s largest cryptocurrency exchange, is heading for Malta! Following in the footsteps of major platforms Binance and OKEx, the exchange has had no choice but to move its operations to the ‘blockchain island’ amid strict regulations in India.

Zebpay Moves to Malta

The exchange shut down its operations in India last month, due to strict regulations issued by the Reserve Bank of India (RBI) in April. The RBI dictated that banks cease business with any firms relative to cryptocurrency.

As such, Zebpay was forced to disable Indian Rupee deposits and withdrawals, and with a lack of funds, closed its exchange service across India. The company has lost some three million investors in light of this closure.

Zebpay in Malta

However, Zebpay in Malta will mean a bigger opportunity for the exchange. It will serve over 20 European countries with its support for over 20 cryptocurrencies.

However, it now won’t be accessible to users in India.

Instead, it will serve massive markets such as Germany, Sweden, and France, but breaking into the European market will be tough. It will have to work hard to regain some of those millions of lost users.