New Bitcoin Exchange Launched in India

Announcements, News | November 28, 2017 By:

Online payments firm BillDesk has launched a new digital currency exchange in India named Coinome to meet the country’s rising demand in bitcoin. The new platform claims to be designed by cryptocurrency enthusiasts and research experts who have been developing secure payment and banking solutions for nearly a decade.

According to the company, Coinome is currently offering bitcoin and Bitcoin Cash trading. The new digital currency exchange is planning to add five to six more leading digital currencies next month. Coinome allows users to be onboarded via an instant e-KYC (know your customer) process managed by Hatio Innovations Pvt. Ltd.

Coinome CEO Vivek Steve Francis said that Coinome is the first digital currency exchange to introduce e-KYC process using Aadhaar numbers, a 12 digit unique-identity number issued to all Indian residents based on their biometric and demographic data.

“We would fundamentally like to provide Indian users with a secure and convenient means for buying and selling bitcoins, alongside other digital currencies. In one year, our target is to support up to 20 popular digital currencies and promoting them to the Indian masses as commercially viable alternatives for building their digital assets.”

Based in Mumbai, BillDesk is one of India’s leading payment services companies. In 2015, the company received an investment of USD 200 million from General Atlantic and Temasek thereby giving the company a total valuation of USD 1 billion dollars. It is a financially independent company and is monitored as a participant under the Payments and Settlements Systems Act, that is regulated and supervised by the Reserve Bank of India.