CoinDCX, India’s largest cryptocurrency trading platform, has become the first cryptocurrency platform in India to integrate bank account transfers, as less than 6 hours after a three-judge bench of the Supreme Court ruled in favor of petitions by the crypto exchanges and startups opposing the RBI ban
CoinDCX integrates with a Bank! CoinDCX becomes the first cryptocurrency exchange in India to integrate Bank Account transfers. Make a deposit now! Click here: https://t.co/40IPvIJnat#TryCrypto pic.twitter.com/yGsDgeWSgD — CoinDCX: Best Crypto Trading Platform (@coindcx) March 4, 2020
It has been reported as the Reserve Bank of India (RBI)’s ban on the crypto industry is lifted following a Supreme Court ruling the culmination of 2 years of petitioning by industry leaders. As a result, crypto businesses will now have access to formal banking services, transforming the nation’s emerging fintech and crypto economies.
After the announcement, Sumit Gupta, the Co-founder, and CEO of CoinDCX, said:
“India’s crypto environment is going to have a transformation after the court verdict. Because of this, crypto-INR pairs are going to see a massive jump as new investors (both institutional and retail) can now invest in the crypto markets without any hesitation or skepticism. The market is open for everyone in India now and CoinDCX wants to provide these new investors and users with the best solution—banking integration was our first priority.”
However, commenting on the effect which the availability of banking services to the cryptocurrency sector will have, Gupta added:
“Banking integration will open up large markets for us. Integration of banking channels makes the whole process of crypto adoption simpler. Through DCX Insta, customers were able to purchase crypto instantly, however now that the banking integration that has gone live the process will be much smoother for customers accessing cryptocurrency through our platform. With renewed accessibility and convenience in purchasing cryptocurrencies, we believe that this change will have a dramatic effect in accelerating crypto adoption in India.”
Thus, it has been analyzed that purchasing and trading through bank transfers have already gone LIVE on the CoinDCX platform.
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Source: crypto-reporter.com | coindcx.com