Coinbase, one of India’s largest crypto exchanges, has confirmed that it will be heading to the Indian market, where rival Binance already operates. Moreover, it is important to note that this announcement was made at India’s Bengaluru Technology Center, where the company also revealed that it will add UPI or Unified Payment Interface to its platform.
According to a TechCrunch report, Coinbase, which has the second highest transaction volume for cryptocurrencies, has confirmed that it will add UPI to its payment services. UPI is a widely used payment method in India. It is important to note that to integrate UPI, the exchange has partnered with banks but has not revealed the names of these banks at this time.
Thanks to the development above, Coinbase users in India will be able to withdraw and deposit money from their bank accounts directly in India without any hassle. This comes at a time when the whole nation is facing tough crypto laws, which have been condemned by enthusiasts around the world.
Coinbase enters India
Coinbase CEO Brian Armstrong has been in India for a few weeks as he plans to expand his business in India by hiring local talent and investing in crypto startups in the country. It is also important to note that the application of the crypto exchange will now be functional in the country with the integration of payment methods suitable for customers in the country.
Recently we also noticed that Coinbase was expansion in India, hiring more than 300 employees, and noted the arrival of today’s event. Two events were planned, and the second will be a kick-off pitch event on Friday, April 8. It has also been confirmed that the exchange will be hiring over 1,000 employees in the coming days.