CCN had a conversation with Prashanth Swaminathan, the founding CEO of XDAT, a new Malta-based crypto exchange with eyes toward India and other markets. A native of India, he is an adviser to the Eleven01 project, which is an attempt at developing a regulated native blockchain in the country. Eleven01 enjoys support from several local government entities, as CCN has previously reported.
One aspect of the Eleven01 foundation is to create a regulated exchange in India as well. My particular involvement with Eleven01 is more focused on this side of things. And also to advise on financial aspects because of my background as an investment banker. […] While XDAT has applied for licensing from the Maltese regulators, we will also open a regulated exchange in India, and it will be a joint effort with Eleven01. Swaminathan said that XDAT will help facilitate the token generation event that Eleven01 is still in the development stages for.