In September, the Ahmedabad-based company tweeted that it was freezing exchange services, cancelling unexecuted orders, and crediting funds to customers’ wallets
Zebpay has reportedly set up operations, in the form of two companies, in Malta and Singapore.
According to the cryptocurrency exchange’s website, a Maltese registered company called Awlencan Innovations Malta, owns and operates Zebpay’s VFA (virtual financial assets) exchange platform in Malta.As per a report by Bitcoin.com, a community of blockchain and cryptocurrency enthusiasts called IndiaBits tweeted that both the Malta and Singapore operations will provide exchange and over-the-counter services to 20 European countries including France, Germany, Ireland, Italy, and more.
@Zebpay is not shutting down, it is setting up for global domination— IndiaBits (@indiabits21) October 12, 2018
This is supposedly Zebpay’s foray into global markets but, according to a report by Coingeek, services will not be extended to customers in the US and Japan, as well as to restricted jurisdictions such as Iran and Venezuela.This comes nearly a month after Zebpay announced it would be shutting down exchange services in India, due to the Reserve Bank of India’s ban on banks providing financial services to any individual and/or business dealing in cryptocurrency.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.