CHENNAI: Ever since its creation in 2009, Bitcoin, the world’s first and most popular cryptocurrency, has been in the limelight for multiple reasons. While some countries like Bolivia, Ecuador and Bangladesh have banned bitcoins, Australia and Japan are regulating it.Today, there are almost 750 cryptocurrencies with a capitalisation of more than $104 billion. And a small but determined number of startups in India are making early moves in a market that is yet to be recognised by the government.Sandeep Goenka had started two companies before he decided to set up Zebpay along with Saurabh Agrawal and Mahin Gupta. Drawn to bitcoins, they immersed themselves in research. In 2014, they attended a conference in the US which gave them insights into the future of bitcoins. “We started as a Bitcoin wallet and expected people’s interest to be low, but every time we set targets, we surpassed them,” said Goenka.When they met investors in 2015, there was apprehension but a year later, the founders raised close to $1 million in a Series A round led by equity investor Arjun Handa, CMD and VP of Claris Life Sciences and Amit Jindal, MD of Jindal Worldwide. Zebpay has 7 lakh users and is adding a lakh every month. The startup is now looking to expand to Southeast Asia.
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