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Nischal Shetty of WazirX and Avinash Shekhar from ZebPay Unveil India’s Pioneering Crypto Perpetual Futures Exchange Pi42

Seasoned cryptocurrency professionals Nischal Shetty and Avinash Shekhar have unveiled Pi42, the nation’s pioneering Crypto-INR Perpetual Futures Exchange. The launch of Pi42 marks a milestone in the Indian crypto landscape, offering a compliant platform with a focus on growth and accessibility.

Despite India being one of the largest crypto markets globally, local investors have faced limited opportunities in crypto derivatives trading. Pi42 aims to bridge this gap by providing Indian investors with a comprehensive solution that encompasses a diverse range of derivatives while ensuring compliance, tax efficiency, and user convenience.

Key features of Pi42 include seamless INR trading, enabling investors to deposit and trade directly in INR, eliminating conversion fees, complexities, and TDS. The exchange also introduces perpetual futures contracts, allowing investors to leverage up to 20 times without expiry dates. Advanced trading features, including margin trading, stop-loss orders, and other tools, are incorporated to manage risk and optimize profits.

Pi42 emphasizes regulatory compliance and security, aligning with the Prevention of Money Laundering Act (PMLA) guidelines and seeking approval from the Financial Intelligence Unit (FIU). The platform maintains high standards of safety and security measures to safeguard investor interests.

The co-founders, Nischal Shetty and Avinash Shekhar, will lead Pi42, with Nischal overseeing the overall growth strategy, and Avinash heading key verticals such as finance, operations, and regulatory compliance.

Nischal Shetty stated, “Our objective behind launching Pi42 is to provide Indian investors, who are strong believers in alternative assets, with a convenient and new-age crypto futures trading opportunity, thereby helping them in fulfilling their financial goals.”

Avinash Shekhar highlighted India’s vibrant crypto community, expressing the aim to infuse new life into the industry by providing modern-day investors with a platform offering tax-efficient and regulatory-compliant trading options.

Users can now engage in crypto futures trading through Pi42’s Android app and website, with the iOS app set to launch shortly. The exchange has already secured banking partners to facilitate fast and secure transactions.

Rahul Pagidipati, a prominent figure in India’s crypto landscape and an investor in Pi42, expressed optimism about the potential impact of Pi42 on India’s crypto ecosystem. He commended the platform’s cutting-edge security mechanisms and robust compliance measures, anticipating positive growth in the crypto futures landscape in India.

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