Integration of Unocoin’s exchange into the Blockchain wallet makes it easier for millions of Indians to participate in the digital currency ecosystem
7 September 2017: Blockchain, the world’s leading software platform for digital currency announced a strategic partnership with Unocoin, India’s most popular bitcoin exchange, that will allow individuals in India to seamlessly and quickly fund their Blockchain wallets.
The partnership between Blockchain and Unocoin gives users greater purchasing power directly within their Blockchain wallets without compromising user security or control. Historically, acquiring bitcoin has been a multi-step process with high fees, long settlement delays, untrustworthy service providers, and opaque identity verification procedures. This integration aims to eliminate that friction and make buying bitcoin more user friendly and more accessible for customers across India.
“Blockchain is one of the most trusted companies in digital currency. We are thrilled to work together to provide users a convenient way to participate in the digital currency ecosystem and experience all of the benefits it has to offer,” said Sathvik Vishwanath, Co-founder and CEO, Unocoin.
Millions of Indians have already turned to digital assets like bitcoin as a reliable means to save and transfer money. In fact, half of Blockchain customers in India have used bitcoin to either send or receive money internationally. Today’s partnership between Blockchain and Unocoin represents the ongoing investment by both companies to bring digital currency to the masses.
“Post demonetization, India became the fastest growing economy to witness a surge in use of digital wallets in daily transactions. The fondness for digital currency, especially bitcoin, has also seen a rise, attracting many users who want instant transactions. According to a recent report, 2500 Indians are investing in bitcoin daily, which makes India one of the top contenders for becoming the largest market for cryptocurrency. Keeping this in mind, we are partnering with Unocoin to bring in this digital currency to the masses,” said Nic Cary, Co-Founder and President, Blockchain.
Founded in 2011, Blockchain offers the largest digital asset platform in the world. The company’s wallet software has empowered millions of active users in 140 countries across the globe to transact quickly and without costly intermediaries, resulting in billions of monthly consumer transaction volume. Blockchain has over $70 million in funding from notable investors and is focused on expanding access to digital currency in emerging countries, like India. Initially available to web users, the company plans on expanding the Unocoin integration to mobile for Android and iOS users in the near future.
Started in 2013, Unocoin is a Bangalore based technology startup and is India’s first entrant into the bitcoin industry. The company operates India’s largest BTC-INR trading platform which enables Indians to buy, sell, store, use and accept bitcoin. Every month, Unocoin processes transactions worth more than INR 600M for its 400,000+ customers. In just 3 years since inception, the company has drawn more than 30 top investors from 5 countries. Unocoin is responsible for industry leading innovations such as the Bitcoin Systematic Buying Plan(SBP), Bitcoin Point of Sale (POS) App and Bitcoin Over-The- Counter trading (OTC). In September 2016, Unocoin has raised $2 million in a Pre Series-A round, the highest total raised for a digital currency venture in Indian history. Funding was sourced from well-known Indian entities such as Blume Ventures, Mumbai Angels and ah! Ventures along with prominent international investors such as Digital Currency Group, Boost VC, Bank to the Future, Bitcoin Capital, Huiyin Ventures and FundersClub to move faster towards its vision of Making Money Simple through its mission Bringing Bitcoin to Billions.
Blockchain is on a mission to build a more open, accessible, and fair financial future, one piece of software at a time. Thanks to its rapid expansion and position as the world’s most popular bitcoin wallet, the firm’s technology is revolutionizing the $13T financial services industry by empowering millions across the globe to authenticate and transact immediately and without costly intermediaries. (www.blockchain.com).