Zebpay recently announced that they are shutting down their India operations. They were after all the biggest cryptocurrency exchange from India. However, speculation is rife that they might be going global having registered themselves in Singapore and Malta respectively. 

![Screen Shot 2018-10-12 at 10.11.02 PM.png](https://cdn.steemitimages.com/DQmNxAPxxtiR4vgRSzZZe1W6Lor4L39PhKtFECNL81S9yGy/Screen%20Shot%202018-10-12%20at%2010.11.02%20PM.png)

It seems as though they have incorporated themselves as Awlencan Innovations Malta Limited in Malta and Awlencan Innovations Pte. Ltd in Singapore. The Malta company seems to have been registered less than a month ago. 

![Screen Shot 2018-10-12 at 10.10.40 PM.png](https://cdn.steemitimages.com/DQmQp89ihhpZ8GcFrXXnir24u6mNTWHp1WuVoHmoK5fkoc9/Screen%20Shot%202018-10-12%20at%2010.10.40%20PM.png)

Registering themselves abroad will allow them to stay outside the scope of Indian financial regulations. It makes it easier to operate and render services to a global audience instead of being limited to just India. 

![Screen Shot 2018-10-12 at 10.18.21 PM.png](https://cdn.steemitimages.com/DQme1AmBr7YCwoRy499v4DrNTiSePpeA68Pm7VmnPueHF6Z/Screen%20Shot%202018-10-12%20at%2010.18.21%20PM.png)

### How will this make any difference?

That’s a good question. Registering in Malta and Singapore respectively will allow them to provide OTC services to several countries. Hopefully Zebpay should confirm this in the near future. 

But if you have watched Zebpay CEO’s interview from India Blockchain Congress event held in Hyderabad couple of months ago, they somewhat indicated evolving with the market and seems like they are going to take their business elsewhere now that the Indian market doesn’t seem to be all that great for them.

Considering that they lost out to newer startups that capitalised on the opportunities in the market after the banking restrictions, Zebpay suddenly seems to be a little late to the game now as some of these new startups have managed to gain traction quickly with decent trade volumes and liquidity which is rather nil on Zebpay at the moment. 

### What about India?

Once they resume operations with OTC features they can do business with Indian customers again. I'll update more to this regard when I have more information to share. 

I'm sure many of you are interested to see where Zebpay goes. After all it was an exchange that many of us have used in the past. Stay tuned for more updates! 


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