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BuyUcoin Obtains Global Crypto Currency Exchange License

BuyUcoin, the oldest cryptocurrency exchange from India has started its excursion worldwide to spread the alertness of crypto-assets while extending its offshoots.

Now, the anguish of the crypto responsive and government intimidated users is somewhere settling down due to the spontaneous efforts of the buoyant Indian cryptocurrency exchanges.

The second oldest Indian cryptocurrency exchange with more than 350k users has successfullytaken the trade and wallet license from Estonia’s regulatory authority. However, the establishment had secured the crypto-fiat permit in late 2019.

Indian Crypto Banking Ban U-Turn Resuting New Alliances

Additionally, to ease the Indian users, BuyUcoin has partnered with the mobile-based Indian payments service platform and digital wallet provider Mobikwik, which has over 107 million users and 3 million merchants, as per the company’s figure.

BuyUcoin, with the integration of Mobikwik services on its crypto trading platform, allows the users to buy and sell Bitcoin along with other cryptocurrencies at ease via mobile-based user-friendly transaction system.

Reportedly, the collaboration with Mobikwik and the achievement of Estonian regulatory seal proving an icing on the cake both for BuyUcoin and the crypto users. Especially, after the Indian Supreme court’s landmark judgement on banking ban reversal on March 4th. 

Shivam Thakral, CEO & Co-Founder at BuyUcoin, has expressed his optimism towards the mushrooming Indian cryptocurrency space and shown his positive outlook.

Thakral said, “The incredible judgment will lead to economic growth, job creation, investment opportunities along with overall mass adoption for blockchain and cryptocurrency-based products and services. At BuyUcoin, we strive to become the first Indian crypto startup to achieve mainstream international success and global recognition.”

Last year in April, BuyUcoin had shown a daring move despite the crypto blanket ban in the country and announced the launch of its wholesale platform (OTC Desk) with zero trading fee model. Indeed, to facilitate the crypto enthusiasts while spreading the thoughtfulness in the Indian crypto territory. 

Reportedly, the move had taken to improve the liquidity of cryptocurrency in the Indian market, to aid in the quicker transaction, provision of better prices, and to create market stability. 

With the mark of a global regulatory seal, the Delhi based crypto exchange is planning to offer its platform services into diverse countries with the comfort of a legal framework besides conforming the cryptocurrency protocols.

BuyUcoin Going Mainstream

The Indian cryptocurrency industry is still in its nascent stage because of the lack of know-how due to the highly volatile market and less attentiveness.

BuyUcoin is ready to extend its efforts and wants to go down the line and plans to empower the Indian customers while spreading the education on cryptocurrency segment. 

Lately, the crypto firm has also announced the national COVID-19 RELIEF FUND. Where in, for the next three months, the exchange would donate 15% of the exchange fees and help the populaces while reducing the effects of government-enforced lockdown.

New Hope in Indian Crypto Segment

Strategically, to simplify the role of crypto and to upgrade the financial status quo, the integration with Mobikwik platform would prove to be an asset for the notable domestic crypto exchanges. The supportive act of Mobikwik to open its gateway for cryptocurrency dealings can prove a sigh of relief both for the users and cryptocurrency businesses.

Since the reversal of the longstanding and controversial crypto ban on domestic banks’ dealings has been removed now; cryptocurrency entities can deal in commerce and spring into action.

The Supreme Court of India, during its judgement, pointed that, “some call it an exchange of value, some call it stock and some call it a good/commodity. There may be no difficulty in accepting the divergence of views if those views are not driven by fear of regulation.”

With the landmark judgement, new hope has augmented in the existing and imminent blockchain and crypto-based startups in the country, specifically, after the encouraging remarks of the major crypto bulls and Billionaire investors like Tim Draper. 

Draper, after the turnaround of Reserve Bank of India’s crypto banking ban by the SCI – expressed his interest to invest in the country and support the crypto ecosystem. 

Draper tweeted, “A Renaissance for India. Now crypto is legal.”

Source: Twitter

Image by Kurious from Pixabay