Blockchain, the company behind popular bitcoin wallet, Blockchain.info, has teamed with Indian bitcoin exchange Unocoin. Blockchain wallet users in India will now be able to link their bank account directly with their wallet when buying bitcoins from Unocoin.
Blockchain has integrated Unocoin’s exchange directly within its wallet to give users greater purchasing power without compromising security or control. The integration is currently available to web users. Blockchain plans to expand the integration to Android and iOS wallet users in the near future.
Blockchain said the move was part of a commitment to making digital currency “simple and more accessible throughout India.”
“Millions of Indians have embraced digital assets as a reliable way to save and transfer money,” said Blockchain. “Together with Unocoin we are committed to making digital currency simple and more accessible throughout India. Whether it’s high fees, untrustworthy service providers, or confusing identity verification procedures, it’s often been a slow and challenging process to get started with bitcoin. Today’s integration is an important step forward in eliminating the friction that many have experienced in buying bitcoin.”
Unocoin CEO Sathvik Vishwanath said that the entire idea is – whenever a customer buys bitcoin through Blockchain.info, the bitcoins will get delivered directly to their blockchain wallet. A user will not be holding their bitcoin balance with Unocoin, where we control their funds.
Blockchain co-founder Nicolas Cary said that 2,500 Indians are investing in bitcoins daily, figures that his company’s partnership with Unocoin could help support.
“India is our 35th market and after demonetisation, there has been an unprecedented surge in people using bitcoins and other cryptocurrencies,” said Cary.
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