Indian Bitcoin Exchange UNOCOIN Reveals APIs, Partners Blockstream For Remittance
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It is, so far, most popular bitcoin exchange and wallet provider in India. It was even dubbed as the “Coinbase of India.” Unocoin is a webservice provided by CoinMonk Ventures which aims to provide a simple, safe and secure way of buying, selling and storing Bitcoins in India. The team has successfully managed to bring on board several e-commerce giants to accept Bitcoin as a mode of payment for their respective websites.
Unocoin, arguably India’s foremost bitcoin exchange and wallet provider has announced the implementation of its APIs, a first for the company. The feature will help enable adopters, be it individuals or companies, to generate bitcoin wallets to transact with and store the cryptocurrency as a payment method.
The API also allows for real-time or historical price information, bitcoin payment options for merchants and perhaps uniquely, KYC (know your customer) detailing procedures for offshore merchants to remit bitcoin to India.
The release of its API comes soon after the bitcoin startup raised $1.5 million in a pre Series-A funding round, a record amount for a digital currency venture in the country.
Unocoin chief executive and co-founder Sathvik Vishwanath stated:
We’ve been excited to develop a robust API for use by companies around the world. Our API is best described as an on-ramp for firms looking for a simpler way to gain entry into one of the world’s fastest growing and largest potential markets.
Unocoin added that the API has seen “rigorous testing” prior to its release, with its mobile applications built off the API infrastructure.