Crypto Exchange CrossTower Launches A Trading Platform in Indian

Fazzaco learned that CrossTower, a digital assets capital markets firm, has set up a local unit in India and launched a trading platform despite policy uncertainty.

According to the exchange, it has already hired 35 people for the Indian office and planned to expand it further to 100 for the upcoming six months.

India's digital currency market has grown from $923 million in April 2020 to $6.6 billion in May 2021, according to Chainalysis, a blockchain data platform. Among 154 nations, India ranks 11th in cryptocurrency adoption, it said.

“India will play a pivotal role, and we plan to use the country as a hub to expand into other geographies,”said Kapil Rathi, CrossTower’s co-founder and Chief Executive Officer.”We believe we are taking a calculated risk.”

Rathi also stated that the firm plans to increase its market share by providing competitive pricing and relying on advanced technology infrastructure to meet the high demand of the Indian crypto market.

Earlier, CrossTower has appointed Cory Thackeray as the company's new Chief Financial Officer and Bryan Christian as Head of Exchange​.