Coinbase debuts crypto services in India: Adds UPI
Coinbase, one of the most prominent crypto exchanges in India, has confirmed that it will be making its way to the Indian market, where its rival, Binance, is already operating. Furthermore, it is important to note that this announcement was made at India's tech hub Bengaluru where the firm also revealed that it would be adding UPI or Unified Payments Interface to its platform.
Addition of UPI
As per a report from TechCrunch, Coinbase, which has the second-highest trading volume for cryptocurrencies, has confirmed that it will add UPI to its payment services. UPI is a widely used payment method used in India. It is important to note that in order to integrate UPI, the exchange has partnered with banks but hasn't revealed the name of these banks for now.As a result of the above development, 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 entire nation is dealing with stiff 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 operations in India by hiring local talent and investing in crypto startups in the nation. It is also important to note that the crypto exchange's app will now be functional in the nation along with the integration of payment methods suited for the customers in the nation.Recently, we also noted that Coinbase was expanding in India, hiring more than 300 employees, and noted the arrival of today's event. There were two events planned, and the second one will be a startup pitch event on Friday, April 8. It has also been confirmed that the exchange will hire more than 1,000 employees in the coming days.
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