India-based digital coin exchange Zebpay has opened a crypto-to-fiat service in Europe as part of its relaunch strategy after the company halted all services in its domestic market in October. Based in Malta, Zebpay Europe introduced on Tuesday Bitcoin (BTC) trading in euro in 21 of the 28 European Union (EU) member states.
The BTC-EUR pair is open for retail and institutional investors after they successfully complete the know-your-customer (KYC) procedure and bank account verification. KYC includes nationality, ID, and address proof. Bank accounts in Indian rupee are not allowed, according to the Zebpay website.
“We will soon add more digital assets that can be traded with Euro,” the exchange said in a blog post.
Currently, the crypto-to-fiat service is available to citizens of Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Netherlands, Malta, Poland, Portugal, Slovenia, and Sweden. The trading is not allowed in one of the largest EU markets - the United Kingdom.
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