Koinex Brings Back INR Deposits, Withdrawals

[Guvn0r]

Indian cryptocurrency exchange, Koinex announced it was bringing back the much-awaited INR deposits and withdrawals to its platforms.


If user wishes to withdraw their funds in INR and the other user wishes to deposit their INR into an account, the exchange’s ‘industry-leading matching engine’ links the two peers, and through a banking transaction between them, the funds are reflected in their account.

full article

[Linuld]

Not direct withdrawals from an exchange like earlier.

[Marcus.rubby]

one of the indias oldesy crypto exchanges is shutting down-  zebpay
Peer-to-Peer to the rescue
Mumbai-based cryptocurrency exchange WazirX launched its service on 8th March 2018, just a month before the RBI notification prohibiting banks from dealing with cryptocurrency exchanges.

Launching an exchange into this regulatory atmosphere was not the most perfect scenario for Nischal Shetty, founder and CEO of WazirX. “Within a month, the news about the RBI ban that would come into effect from July came out.” Three days after the ban kicked in, Shetty launched a peer to peer service using which people could cash-in and cash-out of crypto without needing to deposit money into the company’s bank account.

WazirX and Koinex were some of the first Indian exchanges to offer peer-to-peer crypto trading options which came as a lifeline to exchanges and customers at this time.