Giottus Exchange Lists 43 New Cryptocurrencies in India: Full Details
Giottus, a cryptocurrency exchange based in India, has increased the number of cryptocurrencies listed for trading on its platform. Cryptocurrencies related to decentralized finance (DeFi) protocols, real world assets (RWA), artificial intelligence (AI), and memecoins have made it to Giottus’ revamped list. The exchange claims to serve over a million users and the listing of these new tokens is a result of user requests it has been analyzing lately.
In a statement shared with Gadgets360, Giottus claimed that he had conducted analysis on each new token added to the list. Asset quality, reliability, asset fundamentals and market performance history are some of the parameters that were examined, according to the exchange, before they were added to the list.
“The listing of new tokens has been driven by significant demand from our valued customers, especially in light of the ongoing bull market. The tokens chosen for listing have undergone a rigorous due diligence process, evaluating aspects such as asset quality, reliability, asset fundamentals and market performance,” the exchange, founded in 2017, said.
From MintMarketCapCurrently, the crypto market is lush with over 2.4 million cryptocurrencies in circulation. Giottus alone claims to have 300 cryptocurrencies listed on its platform.
Realizing the trend of new tokens finding their way onto crypto exchanges, the Bharat Web3 Association (BWA) recently came up with a set of self-regulatory guidelines that exchanges must follow before listing new tokens on their platforms. The guidelines suggest that all crypto exchanges set minimum standards to assess tokens that are in the pipeline to be listed for public engagement. The exchanges have also been tasked with creating their own filtering framework for token listings.
As India introduces regulations to make the crypto sector safe for users, it is expected that more people will try to experiment with cryptocurrencies. Despite their volatile nature, cryptocurrencies attract investors who want to make money quickly.
The Indian government has yet to release its own regulations for token listings, but has directed exchanges to complete KYC formalities for all customers and report suspicious activities internally.
Giottus claims to have registered with India’s Financial Intelligence Unit (FIU), which was recently tasked by the Centre to ensure that no company illegally exposes Indians to the volatile and financially risky crypto space.
“As a registered entity with the FIU and a reporting entity under the India Cyber Crime Coordination Centre (i4C), Giottus adheres to the highest standards of regulatory compliance and believes that such user-centric measures will boost crypto adoption among the masses with the stated goal of reaching five million users by the end of 2024,” the exchange added in its statement.
