India to see Bitcoin and Blockchain Remittance from New Partnership
A new partnership between Indian bitcoin exchange Coinsecure and global money transfer platform OKLink – a spinoff of Chinese bitcoin exchange OKCoin – will see digital currency and fiat remittances to Indians using blockchain technology. Indian citizens will soon be able to send or receive funds in bitcoin and the local fiat Indian rupee from countries around the globe via a newly developed blockchain remittance platform. The blockchain-remittance offering is expected to bring fees from an industry average of 3%-5% down to a relatively modest 0.5%. India is the largest receiver of....
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Indian Bitcoin company Coinsecure has announced a partnerships with OKCoin’s OKLink service. This partnership is intended to bring “blockchain technology powered remittance services in India,” Coinsecure said in a press release. Coinsecure, OKLink Partner in New Remittance Service. This partnership is part of an initiative by the new OKLink service to “provide [a] digital assets and blockchain based global transaction settlement system,” Coinsecure said in a press release. Furthermore, the company said, “with India being the largest inward remittance receiving country in the world, this....
Major Indian bank ICICI has asked customers not to use the Reserve Bank of India (RBI)’s liberalised remittance scheme (LRS) for any crypto-related investments. ICICI, a leading private sector bank in India, has updated its retail outward remittance application to include cryptocurrency. With this update, the bank has asked its customers to declare under India’s Foreign Exchange Management Act 1999 (FEMA) that they will not use the Reserve Bank of India (RBI)’s liberalised remittance scheme (LRS) for any crypto-related investments. The bank’s declaration states:....
Blockchain applications could see further development in India after a new partnership between technology behemoth Microsoft and advisory firm KPMG, commonly known one of the “Big Four” auditing firms in the world. Announced today, the strategic partnership will fundamentally see the two companies collaborate on the digitization of large and mid-market Indian enterprises, powered by the Internet of Things (IoT). The outcome of the partnership could see Microsoft and KMPG clients in India deploy cloud-based automation, IoT-enabled operational insights and analytics, increased mobility among....
Awareness for Bitcoin has been steadily increasing in India, as online e-commerce merchants and small businesses have begun to understand the benefits of bitcoin as an international currency and as billion dollar tech giants such as Microsoft, IBM and VISA have begun to sponsor Bitcoin- and blockchain-related conferences, hackathons and meetups throughout the country. India has an Internet user base of about 243.2 million people and the country's e-commerce industry is worth $12.6 billion USD. India has the potential to become one of the largest Bitcoin markets in the world, given the....
Stellar, the open blockchain platform and non-profit payment protocol has unveiled a slew of new partners including, notably, India’s largest private bank by consolidated assets ICICI, to bring low-cost, near instantaneous remittance solutions in India, the Philippines, Africa and Europe. Announced yesterday, Stellar revealed four new partners in some of the largest remittance markets in the world. Indian bank ICICI; Philippines-based financial inclusion-focused Fintech startup Coins.ph; pan-African Fintech firm Flutterwave which is notably plugged into the popular M-Pesa network; and....