Wallet Provider Blockchain Partners With Indian Bitcoin Exchange

Blockchain, the provider of the world’s most popular bitcoin wallet, has entered a strategic partnership with Indian cryptocurrency exchange Unocoin.

The news means that Unocoin’s exchange services are now directly available within the Blockchain wallet, allowing users to more easily buy and sell bitcoin.

Citing the recent growth of digital assets in the Asian country, Blockchain indicated in a blog post that the move was part of a commitment to making digital currency “simple and more accessible throughout India.”

According the Indian Economic Times, Blockchain co-founder Nicolas Cary said that 2,500 Indians are investing in bitcoins daily, figures that his firm’s partnership with Unocoin could help support.

Cary stated:

“India is our 35th market and after demonetisation, there has been an unprecedented surge in people using bitcoins and other cryptocurrencies.”

Notably, India has not seen an easy regulatory path in recent years, with raids by authorities on exchanges and warnings from the country’s central bank that caused some services to cease operating for a time.

Cary told the news source: “I hope that legal hassles related to bitcoins would soon be solved in India and it will become a legal tender.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Blockchain and Unocoin. 

Bitcoin and rupees image via Shutterstock

The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at [email protected].