Pi42 CEO Avinash Shekhar on Crypto Derivatives, INR Options and India’s Global Role

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India’s appetite for digital assets expands beyond simple trading, and Pi42 is carving its niche with INR-margined derivatives. It’s bringing global-grade products to local investors in a tax-efficient, compliant, and transparent way. From launching perpetual futures to rolling out low-cost options on BTC, ETH, and SOL, Pi42 isn’t just building another exchange. The platform is positioning itself to set benchmarks for India’s emerging crypto derivatives market.

In this exclusive conversation, Avinash Shekhar, Co-Founder & CEO, Pi42, sheds light on Pi42’s latest innovations, how India could become a global hub for crypto derivatives, and why compliance-first innovation is the only way forward in today’s evolving regulatory landscape.

Pi42 has been actively expanding its offerings in the Indian crypto derivatives space. Could you walk us through your recent initiatives and how they align with your long-term vision for Pi42 in a highly competitive market?

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At Pi42, our goal is to build India’s most trusted and comprehensive crypto derivatives ecosystem. We began with INR-margined perpetual futures, which solved immediate challenges around tax efficiency and accessibility. Building on that success, our next major initiative is the launch of INR-margined options starting with BTC, ETH, and SOL contracts at low entry points of just ₹20.

This will empower traders to move beyond speculation into hedging and structured strategies, a first in the Indian context. Alongside product innovation, we are investing in education, compliance, and user experience. Our vision is to make Pi42 the go-to platform for Indian traders seeking global-grade derivatives in a safe, transparent, and locally relevant manner.

Will Bitcoin price continue to drop in September? 

Bitcoin enters September under pressure, slipping toward $108K as on-chain flows soften and whales shuffle positions. September has historically tested investor nerves, but this time, underlying signals look more constructive. U.S. spot ETFs continue to attract net inflows, and Japan’s Metaplanet’s holdings crossing 20,000 BTC underscores institutional appetite.

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Rather than a breakdown, this phase may serve as a reset, where macro shifts like a potential Fed rate cut could reignite momentum. While the near term may look fragile, structural demand signals point to the bull case staying intact, leaving Bitcoin well-positioned to retest its all-time highs eventually.

As India emerges as one of the fastest-growing digital asset markets, do you see the country evolving into a global hub for crypto derivatives? What role can Pi42 play in shaping that narrative and setting global benchmarks from India?

India is uniquely positioned to become a global hub for crypto derivatives. We have one of the world’s largest pools of young, tech-savvy investors, a thriving developer ecosystem, and rapidly rising participation from Tier 2 and Tier 3 cities. What’s missing has been access to compliant, tax-efficient, and locally designed derivatives products. 

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That’s exactly the gap Pi42 is filling with INR-margined futures and soon, INR options. By combining global-grade innovation with a compliance-first approach, we believe Pi42 can help set benchmarks not just for India but for emerging markets worldwide. Our mission is clear: to make India a leader in the responsible and inclusive adoption of crypto derivatives.

With evolving regulations and growing scrutiny around compliance, how is Pi42 ensuring transparency, security, and regulatory alignment while still innovating in the derivatives market?

From the outset, Pi42 was designed with compliance and transparency at its core. We mandate full KYC and AML checks, ensuring every trader is verified through Aadhaar, PAN, and biometric authentication. All INR flows are routed through regulated banking channels, giving users confidence that their funds are safe and traceable. 

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On the security front, we employ advanced encryption, risk controls, and continuous monitoring to safeguard data and assets. Having already built India’s first INR-margined perpetual futures exchange, we are now expanding into INR options products that are tax-efficient yet fully within the regulatory framework. For us, compliance isn’t a trade-off against innovation; it’s the foundation that enables sustainable growth in India’s crypto derivatives market.

LinkedIn:https://www.linkedin.com/in/avinashshekhar/?originalSubdomain=in