NewsletterJust-In: Bybit Exchange Rolls Out Support For Digital Rupee Payment
Highlights
- Bybit rolls out support for eRupee payments.
- The move will mitigate the risk of bank accounts being compromised.
- The platform spotlights adoption to attract a wider pool of merchants.
Crypto exchange Bybit has announced support for Digital Rupee (eRupee) payments addressing problems with traditional banking methods. This move will aid seamless trading among merchants and address security risks. Digital asset exchanges continue to integrate support to help users amid growth competition.
Bybit Adds Support for eRupee
The second largest exchange by trading volume announced launching support for Digital Rupee transactions as a payment method for INR users. In a July 30 release, the exchange stated that this was done in response to feedback from INR merchants over complaints about traditional banking security.
“Bybit the world’s second-largest crypto exchange by trading volume, is excited to launch the Digital Rupee (eRupee) as a new payment method for its INR users. This innovative wallet-based mobile payment solution is now live, offering a secure and convenient way for users to transact on the platform.”
The support will address security concerns and mitigate the risk of cyber criminals targeting accounts while ensuring a robust ecosystem for all parties involved. Bybit continues to roll out programs to aid users and merchants on the platform. With growing crypto adoption globally, several users will have preferences on assets for transactions leading to the constant innovation and feedback between stakeholders to make trading seamless.
Crypto enthusiasts across social media spaces lauded the inclusion of the Digital Rupee support signaling better community participation among others.
Also Read: MiCA Regulation: Circle Exec Reveals How This EU Law Impacts Crypto Market
Platform Eyes Wider Growth
Bybit set sights on more adoption and merchant participation through the recent integration. Joan Han, Bybit’s sales and marketing director added that the eRupee is a cutting-edge payment option at a better experience for users and attracts merchants.
“By incorporating the eRupee payment, Bybit aims to elevate the payment experience for INR users, fostering trust and reliability in every transaction. Furthermore, this initiative is expected to attract a wider pool of merchants to the platform, driving business growth and expanding the reach of Bybit’s services within the market.”
Globally, crypto use cases continue to soar driving users to the sector leverage on cross-border settlements among others.
Also Read: Grayscale Bitcoin ETF (GBTC) Plummets 11% Ahead BTC Mini Trust Distribution
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