The Future Coin

Bitcoin

$48,707.21

BTC 0.14%

Ethereum

$1,587.31

ETH 1.16%

XRP

$0.46

XRP -1.82%

Litecoin

$176.54

LTC 0.63%

EOS

$3.82

EOS 0.34%

  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases
No Result
View All Result
The Future Coin
No Result
View All Result
Home Markets

Cryptocurrency startups continue to expand in India despite uncertain future

by The Future Coin
June 18, 2020
in Markets
0
Cryptocurrency startups continue to expand in India despite uncertain future
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

The crypto market has gathered momentum since March when the Supreme Court (SC) lifted the Reserve Bank of India’s (RBI) controversial ban on the trade of the digital currency in the country.

Founders of cryptocurrency startups are optimistic on the future of this form of currency in India and believe the Centre will not impose another ban.

“I don’t think there is anything to worry about as of now. The news article is based on a note which isn’t clear on whether the finance ministry intends to work upon the old draconian crypto bill or whether they plan to work on bringing a new bill,” said Nischal Shetty, chief executive officer (CEO), WazirX, a Mumbai-based crypto exchange.

“Banning is not a solution and I do not believe India will go for a sub-optimal solution here. India has been progressing in the right direction when it comes to technology. I am optimistic we will follow the footsteps of developed countries that have accepted crypto and introduced positive regulations,” Shetty said.

Earlier this week, cryptocurrency exchange, CoinDCX, launched a new online platform and subsidiary, DCX Learn, to provide educational content for cryptocurrency and blockchain. The launch of DCX Learn follows the company’s $3-million Series A funding round from American private investment firm, Bain Capital and others, as well as strategic investment of an additional $2.5 million from Coinbase Ventures and Polychain Capital.

Sumit Gupta, co-founder and CEO, CoinDCX, believes the timing to launch their new product is precise. “We don’t see the recent news on a possible ban as a major concern immediately. With all the confusion around regulations, there is in fact even higher need for people to understand the technology and DCX Learn offers that,” Gupta said.

On 1 June, cryptocurrency aggregator, CoinSwitch, launched an Indian rupee (INR) cryptocurrency exchange mobile application named Kuber, exclusively for the Indian market. CoinSwitch Kuber supports over 100 cryptocurrencies for users to buy, sell, and trade digital assets with the INR.

“Following the announcement of the pre-launch of CoinSwitch Kuber in May, our user signups have already reached over 100,000 users, far exceeding our initial targets,” said Ashish Singhal, co-founder & CEO, CoinSwitch. “By offering a simplified and accessible route into crypto via a mobile application, CoinSwitch Kuber can drive crypto adoption in India.”

Paxful, a global peer-to-peer bitcoin marketplace, recently expanded operations in India to tap into the generation of financially-independent Indians. In a survey released by the company about the future potential of cryptocurrency in India the country, 75.8% respondents said they relied on digital currencies to transfer money.

“The Indian market holds great potential and importance for the future of the crypto-economy. We are actively focusing our efforts on bringing cryptocurrency to the masses across the nation to aid the eradication of poverty, boost economies, and create jobs, especially in the post covid-19 economy,” said Ray Youssef, co-founder & CEO, Paxful.

Earlier this month, Pundi X, a leading developer of blockchain-powered devices, created a platform to enable cryptocurrency usage in retail Point of Sale (PoS) through a mobile app and contactless payment card. According to the Singapore-headquartered company, India is already the largest market for its XWallet mobile app launched in 2018.

Experts believe the future is bright for cryptocurrency though entrepreneurs must be mindful of the still-evolving regulatory landscape in India.

“But the Indian Supreme Court ruling was very positive and has provided more regulatory clarity in India…To be competitive in the blockchain technology race, India must create a welcoming environment for crypto talent and investment. We believe more and more Indian policymakers are coming to understand this and we are very optimistic about the future of crypto in India,” said Garrick Hileman, head of research, Blockchain.com.

Subscribe to newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

Topics

Source link

EDITOR’S CHOICE

Crypto Influencers: Top 5 People Making Waves in the Market This Week – Feb 17-24

SEC Action Could Have Rippling Effects on Future of Cryptocurrency | Snell & Wilmer

Planning to Short Bitcoin? Better Check China’s ‘Tether Premium’ First – Yahoo Finance

Here’s How To Avoid Getting Burned in the Altcoin Market, According to Coin Bureau

Surf the blockchain wave with confidence |

Biden’s Supply Chain Executive Order Should Remind All Business Leaders To Be Prepared For A Crisis

Best Pick For You

News

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business News
  • Ethereum News
  • Litecoin News
  • Ripple News

Features

  • Market Analysis
  • Opinion
  • Explained
  • Policy & Regulations
  • Top Cryptocurrencies
  • Technology News

Market Tools

  • Market News
  • Price Indexes
  • Bitcoin Price Index
  • Ethereum Price Index
  • Bitcoin Cash Price Index
  • Litecoin Price Index
  • Monero Price Index
  • HeatmapPartner

Cryptopedia

  • Explained
  • Bitcoin101
  • Bitcoin Cash101
  • Ethereum101
  • ICO101
  • Ripple101

© 2020 Coingraph

No Result
View All Result
  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases

© 2020 Coingraph

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
bitcoin
Bitcoin (BTC) $ 48,543.00
ethereum
Ethereum (ETH) $ 1,579.43
binance-coin
Binance Coin (BNB) $ 241.15
tether
Tether (USDT) $ 1.00
cardano
Cardano (ADA) $ 1.01
polkadot
Polkadot (DOT) $ 32.29
xrp
XRP (XRP) $ 0.457527
litecoin
Litecoin (LTC) $ 175.08
chainlink
Chainlink (LINK) $ 27.14
bitcoin-cash
Bitcoin Cash (BCH) $ 512.14
stellar
Stellar (XLM) $ 0.391168
usd-coin
USD Coin (USDC) $ 1.01
uniswap
Uniswap (UNI) $ 24.24
dogecoin
Dogecoin (DOGE) $ 0.055687
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 48,472.00
okb
OKB (OKB) $ 17.75
nem
NEM (XEM) $ 0.507641
solana
Solana (SOL) $ 17.33
cosmos
Cosmos (ATOM) $ 19.03
aave
Aave (AAVE) $ 350.68
crypto-com-chain
Crypto.com Coin (CRO) $ 0.157057
eos
EOS (EOS) $ 3.79
monero
Monero (XMR) $ 201.20
bitcoin-sv
Bitcoin SV (BSV) $ 190.48
huobi-token
Huobi Token (HT) $ 18.94
tron
TRON (TRX) $ 0.046343
theta-token
Theta Network (THETA) $ 3.22
iota
IOTA (MIOTA) $ 1.15
terra-luna
Terra (LUNA) $ 6.50
neo
NEO (NEO) $ 39.12
havven
Synthetix Network Token (SNX) $ 18.30
vechain
VeChain (VET) $ 0.041564
tezos
Tezos (XTZ) $ 3.43
ftx-token
FTX Token (FTT) $ 28.92
dai
Dai (DAI) $ 1.00
dash
Dash (DASH) $ 227.88
binance-usd
Binance USD (BUSD) $ 1.00
cdai
cDAI (CDAI) $ 0.021392
the-graph
The Graph (GRT) $ 1.80
avalanche-2
Avalanche (AVAX) $ 27.90
kusama
Kusama (KSM) $ 231.08
filecoin
Filecoin (FIL) $ 36.06
maker
Maker (MKR) $ 2,189.86
compound-ether
cETH (CETH) $ 31.54
celsius-degree-token
Celsius Network (CEL) $ 5.00
elrond-erd-2
Elrond (EGLD) $ 109.66
leo-token
LEO Token (LEO) $ 1.90
compound-governance-token
Compound (COMP) $ 417.84
compound-usd-coin
cUSDC (CUSDC) $ 0.021919
decred
Decred (DCR) $ 140.25