Indian exchange Flitpay has added Shiba Inu (SHIB) to its list of supported cryptocurrencies. Now, users on the Flitpay platform can easily buy, sell, and trade SHIB along with other digital assets.
This move reflects Flitpay’s commitment to offering a diverse range of cryptocurrencies and staying responsive to the preferences of the growing crypto community in India. With SHIB’s popularity, this addition provides users with more options for their crypto transactions on the Flitpay exchange.
Flitpay Expands Cryptocurrency Offerings with SHIB Addition
Cryptocurrency exchange Flitpay has recently integrated Shiba Inu (SHIB) into its trading platform. Launched in 2017 by a team of tech enthusiasts from various Indian engineering colleges, Flitpay has swiftly gained recognition in the cryptocurrency exchange market.
Flitpay embarked on its journey with the mission of making cryptocurrency accessible to the common people of India. Over the past five years, the exchange has facilitated daily transactions totaling $42,786,811 and extended its reach to over 133 countries.
Boasting a team of 30 dedicated employees, Flitpay has garnered a 4.4-star rating and surpassed 1 million downloads. The platform is dedicated to educating users about the advantages of cryptocurrency and aspires to establish itself as a robust, scalable, and user-friendly exchange.
This dedication is exemplified by the recent addition of SHIB to their platform, following the successful introduction of BONE, another token from the SHIB ecosystem, in the previous year.
Flitpay Navigates Regulatory Landscape Amidst Indian Crypto Crackdown
As Flitpay continues to broaden its cryptocurrency offerings, the larger Indian crypto market grapples with a challenging regulatory landscape.
The Indian Financial Intelligence Unit (FIU) recently issued compliance show-cause notices to several offshore cryptocurrency platforms, including Binance, Kraken, KuCoin, and Huobi, accusing them of illegal operations within the country.
This crackdown aligns with the Indian government’s broader initiative to subject cryptocurrency exchanges to Anti Money Laundering (AML) regulations. Consequently, the URLs of nine cryptocurrency exchanges have been blocked, impacting a significant portion of Indian users associated with these platforms.
For Indian cryptocurrency traders, this situation underscores the significance of opting for FIU-compliant platforms like Flitpay in the face of regulatory uncertainties.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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