Indian trading platform Zebpay announced the closure of the digital assets exchange service. The reason was the restrictive policy of the central bank in respect of crypto-currencies.
We are stopping our exchange. At 4 pm today, we will cancel the unexecuted orders and credit your coins to your Zebpay wallet. No new orders will be accepted. The Zebpay wallet will work even after the exchange stops.
Read more: https://t.co/W8ygzPIYz1 pic.twitter.com/tPWCnyu7Yu
– zebpay (@zebpay) September 28, 2018
The exchange of crypto-currency on the platform will be stopped on September 28 at 16:00 local time. All unsettled orders will be canceled, and funds will be credited to customers on Zebpay wallet wallets.
"Obstacles to working with bank accounts have destroyed our ability to provide services to conduct business clients. At the moment, we can not offer an effective solution for continuing work with crypto-currencies, "the representatives of Zebpay explained the closure of the service.
Despite the halt of operations on the exchange of crypto currency, Zebpay's wallet functions will be retained, which will allow users to enter and withdraw funds.
Zebpay started work in 2015. The platform application quickly became one of the most popular in India. The total number of downloads Zebpay for iOS and Android-devices reached a mark of 3 million. The application allowed to work with 22 trading pairs on the basis of 20 crypto-currencies.
Recall, in July, the Indian exchange Zebpay suspended the withdrawal of the currency against the backdrop of restrictive measures by the authorities and, in particular, the ban on the provision of banking services to crypto-currency companies.
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