Mumbai, June 12, 2017: Zebpay, an app based bitcoin exchange, today announced that bitcoins have reached an all-time high of US$3000 mark. Amidst positive global adoption, bitcoins globally have seen 300% increase in value over the last one year.
In the recent past, countries around the world including, Japan, Russia and Australia have shown greater acceptance to bitcoin as mainstream currency, with bitcoins continuing to dominate cryptocurrencies market with overall market capitalization of over US$46 billion. Last month, Japan declared bitcoins as a legal tender resulting in price of crypto-currencies rising by 80 percent. Further, Australia declared that it will accept bitcoins as legal currency from July 2017 exempted from goods and service tax, while Russia is planning to adopt bitcoin as a legal payment method in 2018.
Closer to home, the demand for bitcoins in India is rising exponentially with Indians actively exploring bitcoins as an alternative investment option. Recently, the Indian government set up a committee to study the virtual currencies including bitcoins and deliberate guidelines.
Commenting on the adoption of bitcoins in India, Sandeep Co-founder and Chief Operating Officer, Zebpay said, “Trade volumes at Zebpay are significant for India but still tiny compared to global trade volume of Rs 20,000 crores per day. Buoyed by positive industry growth, Zebpay has crossed 500,000 downloads and is adding 4,500 users every day. While it is encouraging to see growth in bitcoins adoption and scale, we are still at the tip of the iceberg vis-à-vis globally large trade volume. Nevertheless, we remain optimistic about the growth potential of bitcoin globally and in India as an emerging asset class.”
About Zebpay
Zebpay was started in 2015 by Mahin Gupta – a gold medalist in Computer Engineering. He is one of the first few pioneers to work on the blockchain technology in India since 2012. Two savvy businessman, Saurabh Agrawal and Sandeep Goenka joined Mahin as co-founders. Their aim was to bring financial freedom to billions of people in India.
Saurabh Agrawal is the Founder and Chairman of Red Events – India’s award winning event management company. Sandeep Goenka is former Jt-Managing Director of Hemlines, exporter to top 5 global retailers. He is also the founder of Blynk, hotel concierge app.
Zebpay has the technical expertise to work on blockchain. It is the main technological innovation of Bitcoin and a rare commodity in this young industry. Zebpay has been voted as #1 new bitcoin company at CoinAgenda 2014, Las Vegas.