Mobile payment platform Mobikwik, which has about 107 million users in India, has partnered with Delhi-based cryptocurrency exchange Buyucoin. News.Bitcoin.com talked to the CEO of the crypto exchange to find out how Mobilkwik users can soon buy and sell cryptocurrencies within the Mobikwik app.
Mobikwik’s Integration With Buyucoin
Delhi-based cryptocurrency exchange Buyucoin has partnered with Mobikwik, a leading digital financial services platform in India. Mobikwik claims to have a network of over 3 million direct merchants, over 140 billers, and over 107 million users — with over 1 million transactions recorded on its platform per day.
“There are two types of integration we will be doing with Mobikwik,” Buyucoin CEO Shivam Thakral shared with news.Bitcoin.com, adding that they will be done in two phases. Firstly, “We’re integrating the Mobikwik payment gateway service on our platform that will have Mobikwik Wallet as a payment option,” the CEO detailed. “Their 100 million users can directly buy cryptocurrency on Buyucoin platform using the Mobikwik Wallet money.”
Thakral elaborated that in the second phase:
We will be integrating our services directly on Mobikwik Wallet so their users would have [the] option to directly buy and sell cryptocurrency within the Mobikwik app.
Buyucoin and other Indian cryptocurrency exchanges endured the RBI ban which was eventually lifted by the supreme court after about two years. The platform has now partnered with Mobikwik to open up cryptocurrency trading to over 100 million users.
The Buyucoin CEO confirmed that the first phase of integration has already begun and will be live next week. The second phase of integration “will start within 3-4 weeks after the first integration is done,” he noted,