Follow Us

Latest Posts

Categories

BREAKING NEWS: India’s central bank authorizes Cryptocurrencies

rbi india ripple xrp

We have BREAKING NEWS this morning, coming out of India.  Cryptocurrencies (digital assets) are now authorized in India.

The Reserve Bank of India (RBI) has authorized Cryptocurrencies.   This report indicated that the government is working to ensure that rules and regulations are put in place to oversee the working of virtual currencies in the region.

Back in the summer of 2018, Asheesh Birla stated on a live panel that Ripple has probably over 50% of the market share in India.  Lets’ think about this for a second: India has over 1.3 billion people, and Ripple has 50% of the market share.  This is bigger than big.

The Reserve Bank Of India (RBI) has over $380 billion in reserves.  We read a couple of weeks ago that the Indian Government was running a validator and now we get news that the central bank lifts the ban on crypto.  RBI bank controls the supply of the India rupee.

Indian Banks Already Working with Ripple:

RBI

YES

Kotak Mahindra Bank – Using XCurrent to power instant remittance payments into the county.

Axis Bank – India’s third-largest private sector bank, has launched instant international payment services using Ripple’s enterprise blockchain technology solution.

Source:

FXStreet

  • Duncan
    January 31, 2019 at 10:09 pm

    Please correct the number of people! Million, should be billion, I think

  • Malcolm
    January 31, 2019 at 10:47 pm

    India has a population of 1.39 BILLION people, not two million. Get you facts straight if you want to be taken seriously

  • Bob
    February 1, 2019 at 1:45 am

    “India has over 2 million people”???

  • mm34505
    February 1, 2019 at 3:43 pm

    Technically India does have over 2 million people a lot more, something along the lines of 1.4 billion 🙂 Thank you for the correction all 3 of you I fixed it now.

Leave Your Comment

Your email address will not be published.*

Forgot Password