Crypto industry veterans, Nischal Shetty and Avinash Shekhar announced the launch of their new venture, Pi42, India’s first Crypto-INR Perpetual Futures Exchange. Pi42 aims to grow as the largest compliant crypto futures platform in the world. The exchange makes its debut in India, today and aims to expand its reach across the key global markets by targeting the existing 30+ million Indian crypto investors over the next 2-3 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.
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 are:
- Seamless INR trading: Investors can deposit and trade directly in INR, eliminating the need for conversion fees, complexities and TDS.
- Perpetual futures contracts: This allows investors to gain exposure to the crypto market with leverage up to 20x and no expiry dates.
- Advanced trading features: One can take advantage of margin trading, stop-loss orders, and other advanced tools to manage risk and maximize their profits.
- Regulatory compliant, secure and reliable platform: Pi42 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.
- Crafted By Crypto Veterans: Pi42 stands out as a crypto exchange in India crafted by 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.
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.
Nischal Shetty, Co-founder, Pi42, said, “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.”
Avinash Shekhar, Co-founder, Pi42, said, “India is home to one of the world’s largest crypto enthusiast communities and yet we 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 favourite crypto futures trading platform in the next 12 months.”
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. Pi42 has already secured banking partners to facilitate fast and secure transactions.
Rahul Pagidipati, one of India’s leading crypto entrepreneurs and an investor in Pi42 said “I am happy to join Pi42, and 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”
Pi42 is India’s first Crypto-INR Perpetual Futures Exchange. Started by crypto industry veterans Nischal Shetty and Avinash Shekhar, the exchange aims to work towards creating a crypto-empowered global ecosystem, where innovation and compliance can redefine financial freedom. Pi42 believes in the potential of crypto derivatives (perpetual futures) in addressing all the challenges that are faced by the current investors namely compliance, tax efficiency, and convenience and thereby infuse a new life into the industry. It offers investors a host of benefits such as seamless INR trading, perpetual futures contracts and better regulatory compliance among others. Currently, the platform is available for investors to trade on both the website and the Android app. For more information, please visit https://pi42.com/