Editor's Note: This article is from:Cointelegraph Chinese (ID: CointelegraphChina)Editor's Note: This article is from:

Cointelegraph Chinese (ID: CointelegraphChina)

, Author: Felipe Erazo, reproduced by Odaily with authorization.

U.S.-based cryptocurrency exchange Kraken will begin expanding its operations in the Indian market following a recent ruling by India’s Supreme Court to lift a ban on banks doing business with crypto firms, according to a March 9 announcement.

According to Kraken, the ban by the Reserve Bank of India (RBI) has hindered its expansion in India. However, they did not disclose further details of this big market plan.

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Indian market has bright future

“It’s an incredible time for India. Satoshi Nakamoto created Bitcoin because he felt the central bank was ineffective. In fact, the blockchain industry just got into a battle with the central bank of India, the second most populous country in the world , and achieved victory, it is a huge achievement. We have worked tirelessly to bring 1.5 billion people in this country into the blockchain world.”

Along the same lines, the exchange said that the future is bright as far as the Indian market is concerned and said they hope to bring more news on this new commitment with users in the world's second most populous country.

Cointelegraph reached out to Kraken for more details, but had not heard back by press time. Should there be a response, this article will be updated accordingly.

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Other exchanges also eye India