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Kotak Mahindra To Partner With Cryptocurrency Exchange WazirX, Account Can Be Used By Investors To Receive And Pay Money For Trading
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ndtv.comKotak Mahindra Bank has opened its doors for cryptocurrency trading
Kotak Mahindra has become the first major bank in India to open doors for cryptocurrency trading. It has decided to open an account with WazirX exchange to receive and pay money to those trading on the exchange, amid increasing perception that the government does not intend to ban cryptocurrency but is keen to regulate it. Most major banks had ceased payments in a few months ago, fearing a blanket ban on digital assets. Also, the Reserve Bank of India (RBI) had repeatedly flagged its concerns over the unpredictable consequences cryptocurrency would have on the existing financial system that is driven mainly by fiat currency.
Multiple reports said that Kotak has opened an
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