In the fast-paced world of cryptocurrency, innovation knows no bounds. Today marks a significant milestone as Nischal Shetty, the visionary founder behind WazirX, alongside Avinash Shekhar, former CEO of Zebpay, unveil their latest brainchild: Pi42, a Crypto-INR perpetual futures exchange.
As the curtains rise on Pi42, the stage is set for a groundbreaking journey into the realm of crypto derivatives trading. With a keen eye on the burgeoning Indian market, Pi42 aims to cater to over 30 million crypto enthusiasts in the country over the next 2-3 years. What sets Pi42 apart is its unwavering commitment to compliance, evident in its adherence to the Prevention of Money Laundering Act (PMLA) guidelines and its application for approval from the Financial Intelligence Unit (FIU).
In a recent interview with BusinessLine, Nischal Shetty underscored the immense market potential, citing the demand for compliant alternatives following recent regulatory actions by FIU. With an estimated volume projected to reach $30-40 billion in the next 12 months, Pi42 is poised to make waves in the crypto futures landscape.
Indian investors have long been yearning for opportunities to delve into crypto derivatives trading, and Pi42 aims to bridge this gap effectively. By offering a range of derivatives coupled with compliance, tax efficiency, and convenience, Pi42 emerges as a beacon of hope for Indian investors.
Avinash Shekhar, Co-founder of Pi42, sheds light on the platform's robust infrastructure, which includes a beta version of its website and Android app, along with established registrations and banking partners. The platform prides itself on instant deposits and is diligently working towards facilitating instant withdrawals within the next two weeks.
At the core of Pi42's offerings lie seamless INR trading, perpetual futures contracts, and advanced trading features such as margin trading and stop-loss orders. With Pi42 at their fingertips, Indian investors can embark on a journey of unparalleled opportunities in the crypto derivatives market.
In a landscape characterized by innovation and disruption, Pi42 stands tall as a harbinger of change. As it paves the way for a new era in crypto futures trading, one thing is certain: the future of finance has arrived, and it's powered by Pi42.