WazirX founder Nischal Shetty and erstwhile chief executive of Zebpay Avinash Shekhar have joined hands to launch a rupee-denominated futures exchange for crypto traders. The India-registered platform, Pi42, will allow Indian crypto enthusiasts to engage in derivative trading in the local currency. Indians mostly had to use international exchanges for derivative trading till recently. In terms of the value of trades, derivatives are typically much higher compared with spot trading, which is of small ticket size. As the crypto industry matures, this segment will open up, said Shekhar, who is CEO of Pi42.
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USD1
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