MobiKwik Partners With BuyUCoin, Offers 100 Million Indian Users Direct Crypto Trading Through BuyUC

MobiKwik, a leading digital financial services platform in India, has partnered with BuyUCoin, the Delhi-based cryptocurrency exchange.

New post: "Mobikwik to Offer 100 Million Indian Users Direct Cryptocurrency Trading Via Buyucoin Integration" — Bitcoin Nerd (@bitcoin_nerd) April 2, 2020

It has been reported that MobiKwik claims to have a network of over 3 million direct merchants, over 140 billers, and over 107 million users, with over 1 million transactions recorded on its platform per day.

Shivam Thakral, the CEO of BuyUCoin, stated:

“There are two types of integration we will be doing with Mobikwik. We’re integrating the Mobikwik payment gateway service on our platform that will have Mobikwik Wallet as a payment option.”

He added:

“Their 100 million users can directly buy cryptocurrency on BuyUCoin platform using the Mobikwik Wallet money.”

Likewise, Thakral elaborated that in the second phase:

“We will be integrating our services directly on Mobikwik Wallet so their users would have [the] option to directly buy and sell cryptocurrency within the Mobikwik app.”

However, Thakral confirmed that the first phase of integration has already begun and will be LIVE next week. The second phase of integration “will start within 3-4 weeks after the first integration is done,” as he noted by adding that it will be around mid-May.

In addition, he emphasized:

“Mobikwik will be promoting this new service to their users on a regular basis.”

Founded in 2016, BuyUCoin currently supports over 30 cryptocurrencies on its platform. The exchange says that it has over 350,000 registered users and has facilitated over $50 million in crypto transactions. Mobikwik described itself as the country’s “largest issuer-independent digital financial services platform,” second largest in the mobile wallet space, and claims to be in the top three for the payment gateway industry.

Its wallet can be used to make various types of payment, such as mobile minute recharges, utility bill payments, cab bookings, ticket bookings, grocery payments, and payments to both online and physical retail stores.

However, BuyUCoin has recently been granted a license in Estonia.

BuyUCoin Seals Regulatory Approval From Estonia’s Financial Watchdog To Expand Its Services Abroad

By sharing his company’s expansion plans, Thakral said:

“We’re currently establishing the bank accounts in Estonia. Once we’re done with that, we will be opening [our] gates to users in Europe and parts of North America.”

Moreover, he added:

“We have started doing partnerships in these jurisdictions that will help us to expand there quickly.”

Thus, BuyUCoin has announced an initiative to donate 15% of its trading fees for the next three months to the Indian government’s Covid-19 Relief Fund to help fight against the coronavirus outbreak.

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