Nischal Shetty and Avinash Shekhar Launch 'Pi42'; a Crypto-INR Perpetual Futures Exchange Pi42 will be spearheaded by Shetty and Shekhar, wherein the former will be leading the overall growth strategy of the company while the latter will be heading the key verticals of finance, operations and regulatory compliance among others
By Paromita Gupta •
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WazirX founder Nischal Shetty and Zebay's ex-CEO Avinash Shekhar, on Wednesday, announced a new crypto venture- Pi42, a crypto-INR perpetual futures exchange.
"Crypto derivatives trading volumes are significantly higher than spot volumes across the globe as futures trading comes with several advantages for investors such as better liquidity, opportunity to leverage, prospect to earn higher profits, and tax efficiency among others. Our objective behind launching Pi42 is to provide Indian investors, who are also a strong believer in alternative assets, with a convenient and new-age crypto futures trading opportunity thereby helping them in fulfilling their financial goals," said Nischal Shetty, Co-founder, Pi42.
Pi42 will be spearheaded by Shetty and Shekhar, wherein the former will be leading the overall growth strategy of the company while the latter will be heading the key verticals of finance, operations and regulatory compliance among others. Notably, Rahul Pagidipati, CEO, ZebPay is an investor in the venture.
According to the company, Pi42 will aim to address challenges in crypto derivatives trading by offering Indian investors a solution that not only provides a range of derivatives but also ensures compliance, tax efficiency, and convenience.
Some of its key features include seamless INR trading, perpetual futures contracts, advanced trading features, and regulatory compliant, secure and reliable platform.
"India is home to one of the world's largest crypto enthusiast communities and yet we have extremely limited opportunities to explore innovations in crypto such as futures trading. We aim to infuse a new life into the industry for modern-day investors and empower them with a platform that will eventually help them to redefine financial freedom by offering tax-efficient and regulatory-compliant trading options. We aspire to be India's largest and favourite crypto futures trading platform in the next 12 months," said Avinash Shekhar, Co-founder, Pi42.
The exchange aims to expand its reach across the key global markets by targeting the existing 30+ million Indian crypto investors over the next two to three years.
