Between the demonetization and the push of the central government for the digital economy, the Yocoin Exchange in Dubai launched a digital "CoinPay" brand on Tuesday, which could be used for the exchange of currencies.
"Today's world needs the digital currency: this is the first digital currency wallet and digital exchange tool launched by Eastern India, technology that can help the community participate in commerce," said Global Business of Exchange John Barksdale.
"Our technology will allow people to trade in national currencies such as the Indian Rupee, the pound and the US dollar, and people can buy cryptocurrencies like Bitcoin, Ethereum," he added.
Crypto-currency is a digital currency in which cryptographic techniques are used to regulate the generation of currency units and verify the transfer of funds, operating independently of a central bank.
"This is a new business model that we are exposing to the Indian people after the demonetization move: the portfolio is synchronized with that digital dream," said Biman Das, Vice President of Croypto Yocoin India.
By launching the website of the digital wallet, the Bollywood actress Radhika Apte said: "I think we all felt the consequences of demonetization and good access to the digital currency that gives us some independence in dealing with our money.
The exchange said it is the first of its digital portfolio launched by Eastern India, which deals with "decentralized and peer-to-peer digital money".
mgr / BDC / lok / NIR
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