India, one of the world’s biggest crypto markets by trading volume and users, has seen an exodus of funds from foreign investors. Someleft Indian shores last week, and this week already saw $1 billion worth of sales on Monday and Tuesday each.
While noting the likely toll of the war on the Indian economy over the next six months, at least one financial advisorBloomberg in an interview on Wednesday that that foreign investors could return as the conflict wound down. Paxos became the first crypto firm to receive regulatory approval in both New York and Singapore, the company said.
Paxos, which holds a limited purpose trust charter for digital assets in the U.S. and was one of the first crypto firms to be regulated by the New York Department of Financial Services, has actually had a presence in Singapore since 2012, said Rich Teo, the co-founder and CEO of Paxos Asia.
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