An Indian cryptocurrency exchange, BuyUcoin, has just received a license to expand internationally, according to a report from Business Standard.
Apparently, the platform received what is called a crypto trade and wallet license from Estonia. Based in Delhi, BuyUcoin will only expand to countries with a clear regulation for cryptocurrencies.
Speaking on the matter is BuyUcoin CEO and a co-founder of the project, Shivam Thakral:
“The incredible judgment will lead to economic growth, job creation, investment opportunities along with overall mass adoption for blockchain and cryptocurrency-based products and services. At BuyUcoin, we strive to become the first Indian crypto startup to achieve mainstream international success and global recognition.”
On top of this, the exchange is partnering with Mobikwik, “India’s largest issuer-independent digital financial services platform,” to assist in the expansion.
That and the partnership will ensure that users can trade cryptocurrencies on their mobile devices.
BuyUcoin will also assist in the current global pandemic caused by COVID-19. Shivram spoke a little more on the matter here:
“BuyUcoin has announced an initiative to contribute its part in the fight against this hostile situation. We will donate 15% of our exchange trading fees to the COVID-19 RELIEF FUND for the next 3 months to help the Indian government in its battle against coronavirus.”