The decision in Rhutikumari v Zanmai Labs & Ors (2025), delivered by Justice N. Anand Venkatesh, held that crypto assets are intangible property, not legal tender, but assets that can be “possessed, enjoyed and held in trust.”
“Digital assets are no longer an outsider’s bet,” a CoinSwitch spokesperson noted. “Gen Z investors are combining traditional savings with crypto portfolios, using it to build financial independence earlier in life.”
Among the exchanges named are some of the industry’s best-known platforms, including Paxful, Poloniex, BitMex, BTCC, CEX.IO, LBank, CoinEx, BingX, PrimeXBT, Remitano, AscendEx, Phemex, Probit Global, Bitrue, BTSE, YouHodler, and Huione.
“By linking Bitcoin’s strength with Ethereum’s flexibility, and eventually with other networks, we are creating a framework where communities can grow together,” he said. “This is how Bitcoin becomes more accessible, more useful, and more impactful for the entire crypto economy.”
The investment was made through PayPal Ventures, the company’s venture capital arm, as part of Stable’s recent $28 million seed round that also included backing from Bitfinex and Hack VC.
