Demonetization sets the cash register ringing at Zebpay with a turnover of over 500crore
Sandeep Goenka, COO and co-founder, ZebPay, attributes the increased interest in Bitcoin in India to demonetization. ZebPay, an Indian Bitcoin exchange company, clocked in a turnover of over 500 crore (USD 5 billion). They did more than Rs 100 crore of trade turnover in November 2016 and are on target to achieve a turnover of Rs 1,000 crore, this year. Sandeep Goenka, COO and co-founder, ZebPay, attributes the increased interest in Bitcoin in India to demonetization. This sudden rise in interest has catapulted the value of the bitcoin from around $300 last year to now over $700. Zebpay....
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The panic created due to faulty implementation of demonetization has had experts believing that even if the panic is short lived, the people who have turned to bitcoin. The buzz around Bitcoin has been growing stronger steadily over the past few years. Though, a vast majority in India is still unaware of the digital currency. The government’s decision to demonetize Rs. 500 and Rs.1000 currency notes has catapulted Bitcoin into the foreground of people’s attention as they explore various cashless mechanisms in the face of currency ban in India. Zebpay, one of the major bitcoin exchanges in....
Bitcoin, a currency that is immune from governmental controls is seeing plenty of interest in India, a country still reeling from an unprecedented cash crunch that sees over a billion people face government-imposed limits on ATM and bank withdrawals. The move to demonetize 500 and 1000 rupee banknotes – a month ago to this day – meant that 86% of Indian cash in circulation was rendered obsolete overnight. The comprehensive reform sees everyday Indians’ lives disrupted as the Indian government struggles to replace old banknotes with new notes in the face of soaring demand. While the....
Shivcharan Singh Maran, a father of a small household who died at the age of 93, left 50,000 rupees, hereinafter Rs, in 500 Rs banknotes for his family before he passed away. The bundle of cash worth $750 was rejected by the Reserve Bank of India (RBI) because 500 banknotes were previously demonetized by Indian Prime Minister Narendra Modi. Strategy for the government, tragedy for the famil. Mastan, the son of Shivcharan, discovered a bundle of cash amidst cleaning the room of his father after his death. The bundle of cash was found in sets of 500 Rs banknotes hidden in a closet of the....
We have been covering a lot about the Indian Bitcoin ecosystem for a while now, and in a recent post we have discussed the various features offered by prominent Indian Bitcoin start-ups in an attempt to get more people to adopt and use Bitcoin in their day-to-day transactions. Zebpay is one such Indian Bitcoin company which has made the process of Bitcoin transfer as easy as sending instant messages on WhatsApp or WeChat. Zebpay has recently started selling cash vouchers for e-commerce sites, which can be bought using Bitcoin. This way, the company is allowing its customers to indirectly....
Bitcoin adoption has been making a lot of headway in the remittance markets, as well as the unbanked and third world markets. Zebpay thrives in these markets. Starting as a bitcoin exchange known as buysellbitco.in, Zebpay quickly became a bitcoin-based mobile wallet provider in September of 2014. Zebpay is India’s first bitcoin app, allowing people to buy, sell, or transaction bitcoin. Besides exchanging from fiat to BTC, Zebpay has also transacted Flipkart and Amazon vouchers among others, with IPL tickets soon to come. Now Zebpay is in discussion with a developer in Ahmedabad who wants....