Crypto industry veterans Nischal Shetty and Avinash Shekhar have on Wednesday announced the launch of their new venture, Pi42, India’s first Crypto-INR Perpetual Futures Exchange.

The duo said in a statement that Pi42 aims to grow as the largest compliant crypto futures platform in the world.

The exchange makes its debut in India on Wednesday and aims to expand its reach across the key global markets by targeting the existing 30+ million Indian crypto investors over the next two to three years.

Despite being one of the largest crypto markets in the world, Indian investors are faced with very limited opportunity to participate in the crypto derivatives trading.

Moreover, currently there is no exchange that offers derivatives trading to Indian investors in INR.

Thus, Pi42 aims to address all these challenges by offering Indian investors a solution that not only provides a range of derivatives but also ensures compliance, tax efficiency, and convenience.

Some of the key features of Pi42 including seamless INR trading in which investors can deposit and trade directly in INR, eliminating the need for conversion fees, complexities and TDS.

The exchange also offers perpetual futures contracts which allows investors to gain exposure to the crypto market with leverage up to 20 times and no expiry dates.

The exchange also has advanced trading features that one can take advantage of margin trading, stop-loss orders, and other advanced tools to manage risk and maximize their profits.

Pi42 is also a regulatory compliant, secure and reliable platform. It complies with the Prevention of Money Laundering Act (PMLA) guidelines and have applied for Financial Intelligence Unit (FIU) approval.

Moreover, the platform maintains highest standards of safety and security measures to safeguard the interest of the investors.

The exchange is also crafted by crypto veterans – a team with extensive and relevant experience in the crypto, finance, regulation and taxation, with no legacy challenges, providing a robust and streamlined trading experience.

According to the statement, Pi42 will be led by both Nischal and Avinash as co-founders, wherein the former will be leading the overall growth strategy of the company while Avinash will be heading the key verticals of finance, operations and regulatory compliance among others.

“Crypto derivatives trading volumes are significantly higher than spot volumes across the globe as futures trading comes with several advantages for investors such as better liquidity, opportunity to leverage, prospect to earn higher profits, and tax efficiency among others,

“Our objective behind launching Pi42 is to provide Indian investors, who are also a strong believer in alternative assets, with a convenient and new-age crypto futures trading
opportunity thereby helping them in fulfilling their financial goals,” said Nischal Shetty, Co-founder of Pi42.

Pi42 Co-founder Avinash Shekhar said that India is home to one of the world’s largest crypto enthusiast communities and yet they have extremely limited opportunities to explore innovations in crypto such as futures trading.

“We aim to infuse a new life into the industry for the modern-day investors and empower them with a platform that will eventually help them to redefine financial freedom by offering tax-efficient and regulatory compliant trading options,

“We aspire to be India’s largest and favorite crypto futures trading platform in the next 12 months,” he added.

With this launch, users can now initiate crypto futures trading, seamlessly, using the Android app and website of Pi42 and the exchange is set to launch its app on iOS very soon.

It is noted that Pi42 has already secured banking partners to facilitate fast and secure transactions.

“I share my optimism for what crypto futures has to offer to the Indian market. I believe that the approach Nischal and Avinash are taking in building Pi42 will contribute to shaping the crypto futures landscape in India,

“We hope to see further positive growth in India’s crypto ecosystem through Pi42’s cutting-edge security mechanisms and robust compliance measures,” said Rahul Pagidipati, one of India’s leading crypto entrepreneurs and an investor in Pi42.

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