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"Dogecoin Killer" Shiba Inu Listed on India's Oldest Cryptocurrency Exchange


u.today 13 October 2021 14:50, UTC
Reading time: ~2 m

ZebPay, India's oldest cryptocurrency exchange with over four million customers, has added support for meme cryptocurrency Shiba Inu, the company announced Wednesday.

Last week, the Dogecoin rival started trading on Austrian fintech platform Bitpanda, which has been funded by PayPal co-founder Peter Thiel's venture firm.

Prior to that, the Shiba Inu-inspired cryptocurrency also became available for trading on Coinbase Pro.

Binance, which listed SHIB back in May, remains the biggest market for the meme cryptocurrency, accounting for over 27% of its trading volume.

In a March interview, ZepPay CEO Rahul Pagidipati told The Economic Times that the Indian crypto market has plenty of potential for future growth due to its enormous investor base:

India holds less than 1% of the world's crypto currencies and its potential investor base is 100 million.

While the future of cryptocurrencies remains murky in India due to regulatory uncertainly, Pagidipati is convinced that India will not go as far as banning cryptocurrencies since there is great demand for the new asset class.

As reported by U.Today, a Morning Consult survey showed that 86% of Indians have trust in cryptocurrencies despite the government's hawkish attitude toward them.


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