WazirX founder Nischal Shetty, ex-Zebpay CEO Avinash Shekhar launch crypto futures exchange Pi42

WazirX founder Nischal Shetty and former Zebpay CEO Avinash Shekhar launched their new venture Pi42, a crypto-INR futures exchange that will help users invest in the crypto tokens without worrying about paying tax deducted at source (TDS).

This comes at a time when the crypto industry is gearing up for a possible boom in the market following US SEC’s approval of Bitcoin ETF and the impending Bitcoin halving event in 2024.

The platform is registered under Financial Intelligence Unit – India (FIU-IND) and is starting with offering trading options like margin trading, stop-loss orders, and other advanced tools to manage risks. Pi42 is currently offering five tokens including Bitcoin, Ether, Solana, MATIC and XRP. Retail investors will be able to access crypto market with a leverage of up to 20x and no expiry dates.

Crypto futures exchange allows investors to speculate and trade on the future price of cryptocurrencies. This will also mean as the investor continues to hold the token for a longer period, they won’t have to pay the 1 percent TDS which is required in spot trading transactions.

Following its India launch, the platform aims to expand across the key global markets by targeting over 30 million Indian crypto investors over the next 2-3 years.

Disclaimer: The views expressed in this feature article are of the author. This is not meant to be an advisory to purchase or invest in products, services or solutions of a particular type or, those promoted and sold by a particular company, their legal subsidiary in India or their channel partners. No warranty or any other liability is either expressed or implied.
Reproduction or Copying in part or whole is not permitted unless approved by author.


Please enter your comment!
Please enter your name here

Latest Articles

Sign Up for CXO Digital Pulse Newsletters

Sign Up for CXO Digital Pulse Newsletters to Download the Research Report

Sign Up for CXO Digital Pulse Newsletters to Download the Coffee Table Book

Sign Up for CXO Digital Pulse Newsletters to Download the Vision 2023 Research Report

Download 8 Key Insights for Manufacturing for 2023 Report

Sign Up for CISO Handbook 2023

Download India’s Cybersecurity Outlook 2023 Report

Unlock Exclusive Insights: Access the article

Download CIO VISION 2024 Report