Crypto Investment App B21 Expands to India

The Gibraltar-based company said the move was prompted by rising consumer interest and trading volumes in the nation after a ban on banking services for cryptocurrency firms was lifted.

Jul 3, 2020 at 10:44 a.m. UTC
Updated Sep 14, 2021 at 8:59 a.m. UTC

B21, a recently launched mobile app aimed at first-time cryptocurrency investors, has expanded its service to the India market.

  • The Gibraltar-based company said the move was prompted by rising consumer interest and trading volumes in the nation after India's Supreme Court recently overturned the central bank's order banning banking services for cryptocurrency firms such as exchanges.
  • B21 users can fund their investments using Indian rupees through payment methods such as the Unified Payments Interface, debit cards and bank transfers. 
  • The app allows investments in cryptocurrencies like bitcoin, ether and EOS starting with a $25 (2,000 INR) minimum, and is available in 65 nations including the U.S.
  • B21 crypto assets are secured by Prime Trust, the app provider says.
  • The app launched earlier this year, targeting newcomers to crypto investing.
  • The Reserve Bank of India's (RBI) de facto crypto ban was lifted in March, with the central bank later confirming there is no restriction on banking for digital asset firms.
  • Since then, the local cryptocurrency industry has seen something of a renaissance, however, the regulatory situation is still uncertain.
  • Rumors that India's government might be considering a new ban on crypto were reported in mid June.
  • One of the top crypto exchanges by trading volume, Binance, recently joined the Indian tech industry association that fought the RBI ban in court.
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
Coinbase Pares Back Hiring Plans Amid Weak Earnings, Poor Market Condition

The exchange previously planned to hire as many as 2,000 employees earlier this year.

The exchange previously planned to hire as many as 2,000 employees earlier this year.

2
Bitcoin Mining Appears to Have Survived Ban in China

From September 2021 to January this year, China's contribution to the bitcoin mining network was second only to that of the U.S.

From September 2021 to January this year, China's contribution to the bitcoin mining network was second only to that of the U.S.

3
BitMEX Starts Spot Exchange on Eve of Co-Founder Hayes' Sentencing

BitMEX co-founders Arthur Hayes and Ben Delo will be sentenced for violation of the Bank Secrecy Act on Friday.

BitMEX co-founders Arthur Hayes and Ben Delo will be sentenced for violation of the Bank Secrecy Act on Friday.

4
Terra’s LUNA Gains, Then Slides, After Do Kwon's Fork Proposal

Traders sold the tokens even as founder Do Kwon proposed a separate chain to make up for last week’s implosion of UST.

Traders sold the tokens even as founder Do Kwon proposed a separate chain to make up for last week’s implosion of UST.