Global crypto exchange CrossTower enters India despite policy uncertainty

FILE PHOTO: Representation of cryptocurrency Bitcoin is placed on PC motherboard in this illustration taken, June 29, 2021. REUTERS/Dado Ruvic/Illustration

MUMBAI (Reuters) - U.S.-headquartered digital currency exchange CrossTower has set up a local unit in India and launched a trading platform to capture the growing domestic crypto market even though the fate of cryptocurrency in India is still unclear.

CrossTower India has already hired 35 people and plans to increase headcount to 100 in six to nine months, the company said. The company is following in the footsteps of market leader Binance, which entered India in 2019.