Сryptocurrency exchange Flitpay has announced the addition of Shiba Inu (SHIB) to its trading platform.
Established in 2017 by a team of tech enthusiasts from various Indian engineering colleges, Flitpay has quickly risen to prominence in the cryptocurrency exchange market.
India’s rising star
Flitpay’s journey began with the vision of making cryptocurrency accessible to the common people of India. Over the past five years, the exchange has executed transactions worth $42,786,811 daily and has expanded its operations to over 133 countries.
With a team of 30 employees, Flitpay has achieved a 4.4-star rating and over 1 million downloads.
The platform is committed to educating its users about the benefits of cryptocurrency and aims to become a robust, scalable and user-friendly exchange.
This commitment is evident in the recent inclusion of SHIB on their platform, following the successful launch of BONE, another token from the SHIB ecosystem, last year.
India’s new crypto crackdown
While Flitpay is making strides in expanding its offerings, the broader Indian cryptocurrency market faces a challenging regulatory environment.
The Indian Financial Intelligence Unit (FIU) recently issued compliance show-cause notices to several prominent offshore cryptocurrency platforms, including Binance, Kraken, KuCoin and Huobi, for operating illegally in the country.
This crackdown is part of a wider effort by the Indian government to bring cryptocurrency exchanges under the Anti Money Laundering (AML). As a result, the URLs of nine cryptocurrency exchanges have been blocked, affecting a substantial portion of Indian users who engage with these platforms.
For Indian cryptocurrency traders, the current situation underscores the importance of using FIU-compliant platforms like Flitpay.
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