Digital asset investing company B21 Wednesday announced the launch of its B21 Invest app in India.
B21 Invest allows customers to easily purchase and manage cryptocurrencies including Bitcoin, Ethereum, and EOS straight from a mobile phone. The launch of the app in the country was made possible by with the help of a recent decision by the Supreme Court of India to reverse a circular that previously prohibited banks from providing services to crypto traders, exchanges and other businesses dealing in cryptocurrencies.
B21 Invest app supports investment for as little as INR 2,000 or $25 per transaction. Users in India can invest using local fiat currency and local payment methods including Unified Payments Interface, debit cards and bank transfers.
B21 Invest is available free of charge on the App Store and Google Play.
"India is fast becoming a major market for digital asset investing as the use of mobile technology expands alongside interest in alternative asset classes," said Nitin Agarwal, Founder and Director B21.
The virtual currency market in India has improved since March when the Supreme Court lifted the Reserve Bank of India's ban on the trade of the cryptocurrency. The Reserve Bank of India had prohibited the use of the banking system for crypto-related payments in early 2018.
Last month, cryptocurrency exchange, CoinDCX, launched an online platform and subsidiary, DCX Learn, to provide educational content for cryptocurrency and blockchain in the country.
CoinSwitch also launched an Indian rupee cryptocurrency exchange mobile application named Kuber last month. Kuber supports over 100 cryptocurrencies for users to buy, sell, and trade digital assets with the INR.
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