Koinex will stop processing INR withdrawals
Indian cryptocurrency exchange Koinex will stop processing INR withdrawals from July 9th, 2018. The exchange has already stopped INR deposits in wake of the RBI cryptocurrency ban, and users can place their final INR withdrawal requests till 2 pm on July 9th. Post that, Koinex will not process any INR withdrawals. Of course, investors can continue trading crypto for INR through the Koinex Loop peer to peer trading platform which is going to be launched soon. Koinex joins exchanges such as Zebpay, Coinome and WazirX to stop INR deposits and withdrawals. In addition, Koinex has also listed TrueUSD (TUSD) coin.
TUSD is a stable cryptocurrency pegged to the price of one dollar. The stable coin can be used for storing value with stability, booking profits, hedging and 'hodling'. Koinex exchange has already launched TUSD/INR, TUSD/BTC, TUSD/ETH and TUSD/XRP trading pairs. Koinex will launch the full TrueUSD coin trading market next week.