As soon as the Supreme Court of India ruled over the lifting of the ban on banks by the RBI, there was a happy wave in the Indian crypto exchanges. WazirX plans to invest $ 50 million in India with Binance, while CoinDCX has announced a $ 3 million Series A funding.
After this, BuyUCoin, another Delhi-based crypto exchange, has partnered with fintech company MobiKwik. With this partnership, they will be able to make fiat to crypto conversion more easily. BuyUCoin founder and CEO Shivam Thakral also stated that he has obtained a license to start his operation in Estonia.
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However, as the Supreme Court has now set aside the RBI circular, banking and payment wallet services for cryptocurrencies have resumed and most crypto exchanges have started offering to buy and sell crypto from INR.
Special Features of BuyUCoin MobiKwik Partnership
Founded in July 2016 by Atulya Bhatt, Devesh Aggarwal and Shivam Thakral, Delhi-based BuyUCoin is registered as iBlock Technologies Private Limited. The exchange offers multi-cryptocurrency trading, buying and selling facilities.
Regarding the partnership with MobiKwik, Thakral said, “We have partnered with MobiKwik which has around 70 million users. Therefore, now users can also purchase cryptocurrencies using MobiKwik Wallet. As per the partnership, while MobiKwik will be integrated into our payment gateway, there will be an option / link on their wallet that will take users to our exchange. ”
BuyUCoin is now Global Exchange
BuyUCoin has also acquired a license to operate from Estonia. Thakral said, “BuyUCoin is now global. We have also obtained operating license from Estonia. There are two licenses required in Estonia, one is Crypto to Fiat and the other is Fiat to Crypto. The other wallet has to store crypto. BuyUCoin has successfully acquired both licenses.”
In the last few weeks, we have seen the growth of the Indian crypto industry. While Zebpay made a comeback to the Indian market under a different company name and new leadership, global markets like Binance and OKEx have also entered the Indian market as well. Recently, Binance announced the acquisition of the Indian exchange WazirX, while OKEx partnered with CoinDCX.