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2020-03-13 09:28

Digital assets spot and derivatives exchange Kraken has made a pledge to rebuild services in India, after the country

In a somewhat vague blog post Monday, the San Francisco-based exchange recommitted to the potentially massive market, which has seen its crypto industry suppressed by the central bank's order in April 2018 that prevented banks providing services to firms such as exchanges.

As such, India represents a huge earning opportunity for companies that can now speedily establish themselves in the near vacuum left by the ban. Several exchanges were forced to close due to the banking restrictions and others eked out a living on crypto-to-crypto trading or other means.

In its post, Kraken said it was "thrilled" to see the Reserve Bank of India's ban overturned, and would "recommit resources to grow its service in the region through new features and offerings."