Flitpay cryptocurrency exchange has Announced the addition of Shiba Inu (SHIB) to its trading platform.
Flitpay cryptocurrency exchange has Announced the addition of Shiba Inu (SHIB) to its trading platform.
Founded in 2017 by a team of technology enthusiasts from various engineering colleges in India, Flitpay quickly rose to prominence in the cryptocurrency exchange market.
India’s rising star
Flitpay’s journey began with the vision of making cryptocurrencies 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 more than 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 cryptocurrencies and aims to become a robust, scalable and easy-to-use exchange.
This commitment is evident in the recent inclusion of SHIB on its platform, following the successful launch of BONE, another token in the SHIB ecosystem, last year.
India’s New Crypto Crackdown
While Flitpay is making strides in expanding its offering, the broader Indian cryptocurrency market faces a challenging regulatory environment.
India’s Financial Intelligence Unit (FIU) recently issued cause compliance 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 broader effort by the Indian government to bring cryptocurrency exchanges under the Anti-Money Laundering (AML) Act. As a result, the URLs of nine cryptocurrency exchanges were blocked, affecting a substantial portion of Indian users interacting with these platforms.
For Indian cryptocurrency traders, the current situation underlines the importance of using FIU-friendly platforms like Flitpay.