The crypto business continues to show interest in the Indian market by attracting consumers through products such as mobile applications.
India’s crypto developers have begun releasing new mobile applications, following the positive decision of the country’s Supreme Court on blockchain technology. The Court’s ruling reversed a previous law prohibiting banks from providing services to crypto traders and businesses.
The developing interest in the Indian crypto market
B21, a digital asset investment company, recently launched their own Blockchain investment portfolio application following this change. They claimed that the announcement of the Supreme Court of India “had sparked a new interest in digital asset investment and a surge in the exchange rate” in the country.
“The decision in India has helped us focus on partnerships and marketing in India, as we see a large population which are smartphone savvy and also a large emerging class of investors looking for investment opportunities which previously were not available to them.”
Will crypto be legal in India?
B21 founders say India has “plenty” to contribute to the development of emerging crypto assets and blockchain ecosystems.
However, the Supreme Court’s decision on cryptos in India could still face challenges in the future. On June 12 the Indian Ministry of Finance proposed a cryptocurrency ban on a small continent.
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