Avinash Shekhar and Nischal Shetty unveil crypto-INR exchange called Pi42

Crypto industry veterans, Nischal Shetty and Avinash Shekhar, have announced the launch of their new venture, Pi42, a crypto-INR perpetual futures exchange.

According to an official release, Pi42 aims to address challenges by offering Indian investors a solution that not only provides a range of derivatives but also ensures compliance, tax efficiency, and convenience. From what it’s understood, investors can deposit and trade directly in INR, eliminating the need for conversion fees, complexities and TDS, along with allowing investors to gain exposure to the crypto market with leverage up to 20 times and no expiry dates.