The increasing popularity of Bitcoin and other cryptocurrencies in India has led to multiple exchanges operating in India. The latest exchange to be launched is Coinome, which is backed by BillDesk, one of India’s leading payment services companies.
BillDesk, a household name
In the field of digital payments, BillDesk is a household name in India. It was founded in 2000 by a team of ex-Arthur Andersen professionals and its payment services and processing network are used by many financial institutions. Two of India’s leading public sector banks – State Bank of India and Bank of Baroda have invested in BillDesk. BillDesk is a participant under the Payments and Settlements Systems Act, 2007 and is supervised by the Reserve Bank of India. The entry of BillDesk-backed entity into the cryptocurrency space shows the increasing legitimization and mainstreaming of Bitcoin in India.
Multiple cryptocurrencies to be supported
Coinome has plans of rapidly scaling up, starting from two cryptocurrencies (Bitcoin and Bitcoin Cash) and supporting more than 20 cryptocurrencies in one year. The company plans to leverage BillDesk’s capabilities in the payments space to promote cryptocurrencies and attract customers.
Vivek Steve Francis, the CEO of Coinome said: […]