Zerodha's website says 'Invest in everything'! When crypto?

Hi @nithin (&team zerodha)

I couldn’t help but notice that Zerodha’s homepage says it loud and clear - ‘Invest in everything’. We’re all very keen to know if this ‘everything’ will include crypto anytime soon? As an individual or company, you’ve never expressed your views on the crypto scene publicly. Especially in the near recent Indian context of the Supreme court overturning RBI’s notification preventing its banks from providing banking service to crypto exchanges, brokers and related businesses.

Have you been watching this space closely? Do you think Zerodha will lose the first-mover advantage if at all you do decide to enter the space? Considering many exchanges and brokers are already operating decent products and making good revenues by charging up to 0.2%? Do you think discount broking is a good enough strategy to disrupt the existing players even if you make a late entry?

Here’s hoping this message catches your attention. We’re all very keen to hear from you on crypto :slight_smile:

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Until SEBI and RBI explicitly allows their intermediaries to deal in crypto, it will be impossible to do this not just for us but any SEBI/RBI registered intermediary.

Hi @nithin,

I suspect that once RBI and SEBI has figured out who will finally oversee Crypto in India, you will follow the example of the rest of the world and allow Financial Service Providers like yourselves to offer Crypto and Crypto derivatives.

I will not punt our Index of the top 10 Cryptocurrencies here, but if you’d like to get an early start with an index that’s been around since 2018 with more than 12 000 clients, let me know and I’ll DM you the details.

Like I said earlier, until RBI and SEBI explicitly allows us with some form of regulation, I don’t think as a company or personally can be associated with Crypto. Huge risk of regulatory lashback. But thanks for offering to help.

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Thanks for replying @nithin! Really appreciate it. Hoping you can take one more - Say SEBI/RBI/Regulator explicitly allows this. Would Zerodha look to make quick moves into the space? Would your reflex tell you to do this via self-building or partnership/acquisition with existing crypto players?

P.S: Surprised to know in your reply to @earle that you’re not personally associated with crypto yet! Thought you’d be a Bitcoin bagholder :stuck_out_tongue:

Sounds good! Will get our partners in India to keep their ears to ground. We’ll be ready with the message to “GetOffZero” when the time comes.

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Doesn’t make any sense to reinvent the wheel. :wink:

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Lol! You just dangled the carrot. I can now foresee at least 5 crypto exchanges starting up with an exit strategy of ‘sell to zerodha’. :wink: Exciting days ahead! Stay safe, Nithin.

In June, it looked like a permanent cryptocurrency ban was in the works -

But with the recent news about TCS entering into the Crypto trading space, that bans appears unlikely -