Cryptocurrency exchange Coinbase has announced that it is launching full-scale crypto trading in India with Unified Payments Interface (UPI) support.
However, moments later, the National Payments Corporation of India , which developed UPI, stated that no crypto exchange is using the UPI system.The Nasdaq-listed cryptocurrency exchange Coinbase announced Thursday at an event in Bengaluru that its trading platform will be fully available for retail traders in India.
UPI, an instant real-time payment system developed by the National Payments Corporation of India , accounts for 60% of retail payment traffic in the country. The NPCI, an umbrella organization for operating retail payments and settlement systems in India, is an initiative of India’s central bank, the Reserve Bank of India , and the Indian Banks’ Association .
With reference to some recent media reports around the purchase of cryptocurrencies using UPI, National Payments Corporation of India would like to clarify that we are not aware of any crypto exchange using UPI.
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