Despite the hostile crypto environment in India, the world’s leading exchange has joined hands with India’s crypto trading platform. Announced recently, OKEx crypto exchange entered into a strategic partnership with the Indian based Bitbns crypto exchange.
While the country’s crypto exchanges are battling for the regulatory clarity on crypto industry in India, OKEx, the Malta-based crypto exchange boldly announced its entry into Indian crypto ecosystem. Subsequent to the announcement OKEx India has been in an effort to bring its massive awareness among India enthusiasts, traders, and overall Indian crypto community.
We are glad to announce a strategic partnership 🤝 with India's one of the largest exchange, @bitbns to develop and expand the Cryptocurrency community of India.
More news to follow soon… pic.twitter.com/5mNpyWV1oC
— OKEx India (@OKExIndia) August 27, 2019
OKEx with Bitbns
Per the latest announcement, the exchange has joined hands with Indian based Bitbns exchange which was founded back in December 2017. Bitbns is the brainchild of three pioneers; Gaurav Dahake, Prashant Singh and Srikanth Sethumadhavan. The partnership deal between OKEx and Bitbns hints that both the platforms would cross-promote each other with a mission to widen the audience in India.
Coingape reached out to OkEx to get the information about a strategic partnership. On a partnership note, OKEx’s head of the operation, Andy Cheung elaborates;
“OKEx has been very dedicated to supporting blockchain development around the globe and we respect regulation in all the countries. To cultivate the blockchain ecosystem, we are always happy and open to share our experience and insight with the local regulator in order to prompt the regulatory environment,”
However, Bitbns in its official press release states that;
In the future, the company will fully open up to accumulate the resources in India, as well as share ecological dividends and user traffic, Bitbns wrote. OKEx will work with high-quality blockchain projects to integrate Indian market resources, which aims to promote positive development for blockchain industry by building a mutually beneficial ecosystem.
While the crypto market is too volatile in nature, OKEx exchange is currently ranked as 16th largest crypto trading platform, holding the market capitalization of $599,909,693. In addition, both exchanges didn’t disclose the other terms of partnership yet but the Indian crypto community is overjoyed with the OKEx’s partnership announcement.
Although the country is yet to decide its specific stance on the crypto industry, it looks like the delayed response from Govt is barely have any effect on the country’s crypto-related companies.
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Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com