- Apple has removed the Binance, Kraken, MEXC and KuCoin apps from its App Store in India.
- Meanwhile, the new exchange platform Pullix (PLX) continues to record strong demand during its presale.
- Trading on a hybrid exchange gives users not only access to liquidity but also the robust security features that make top CEX platforms industry standards.
As cryptocurrencies appear to be moving toward a new bull run, news from India shows that Apple has pulled several cryptocurrency exchange apps from its App Store. This action follows government compliance warnings issued to exchanges just over a week earlier.
What effect will the emergence of Pullix (PLX), a new exchange platform, have on local crypto traders?
Apple removes apps after Indian government compliance notice to exchanges
A TechCrunch report on Wednesday, January 10 highlighted that the apps for Binance, Kraken, MEXC and KuCoin were among eight no longer available on Apple’s App Store in India.
The move comes after compliance notices that the Financial Intelligence Unit India (FIU IND) issued to nine exchanges in December.
The exchanges named in those notices included Binance, KuCoin, Huobi, Kraken, Gate, Bittrex, Bitstamp, MEXC and Bitfinex. The compliance notices explained the regulator’s decision to block the websites of these exchanges because they are not registered in the country.
The FIU also stated that the exchanges’ operations were not in line with anti-money laundering (AML) and counter-terrorism financing (CFT) frameworks.
Hybrid exchanges gain traction
Against this backdrop — with pressure from the Indian government, global regulators, and the lingering fallout from the FTX collapse — decentralized exchanges (DEXs) have become an important option. Non-custodial models, on-chain activity and enhanced privacy continue to draw traders away from centralized exchanges (CEXs) toward DEXs.
Yet issues such as high trading fees, price slippage and, above all, liquidity constraints mean a new exchange model that blends the advantages of CEXs and DEXs is gaining popularity. These hybrid exchanges are not fully centralized, but they provide many features users value in centralized platforms.
Traders seeking the best of both worlds will find Pullix (PLX) appealing. In addition to addressing the liquidity problems that often plague decentralized platforms, Pullix offers the security and user experience traders expect from a hybrid exchange.
Why join the Pullix (PLX) presale?
Pullix provides an order book designed to deliver institutional-grade, liquid, and low-slippage trading. Security is a top priority: the platform uses a non-custodial approach that allows users to retain full control over their assets.
Industry analysts project that DeFi will remain a major trend in 2024, and Pullix aims to launch amid strong demand across the sector. The platform seeks to stand out by offering a single, easy-to-use exchange where users can buy, sell or swap a variety of tokens, as well as trade CFDs and ETFs.
The PLX token offers benefits to holders, including a revenue-sharing mechanism that is rare in the market. Token holders will gain access to liquidity provisioning, yield farming and staking opportunities when the native PLX token is launched.
The platform also includes a DeFi and NFT Launchpad. Currently built on Ethereum, Pullix is in presale, with PLX tokens offered at $0.08 during the sixth phase.
To learn more about Pullix or to participate in the PLX token sale, visit the Pullix website.