December 8, 2021
Despite various speculations around the status on crypto, India’s well known ‘Kotak Mahindra’ bank just tied up with the country’s one of the largest crypto exchange WazirX. Sources close to the matter say that the tie-up is yet to operationalise as KY, paperwork & other testings are in the works.
This move will certainly help in building confidence among investors as this will facilitate financial transactions via bank account.
Earlier WazirX has also tied up with ICICI bank but soon after that RBI hinting ban on digital currency, business was moved to MobiKwik, a digital wallet and payment services company.
Reports suggests that, Kotak is also in talks with other crypto exchanges like Zebay while major banks like HDFC, SBI & Axis Bank have restricted crypto payments.
Source: Newsroom Post