- With support for UPI, the country’s web 3.0 infrastructure may advance significantly.
- MetaMask joined together with Onramp money, a fast-payments service.
Interestingly, the web 3.0 wallet MetaMask has now announced that it would support bank transfers for customers in India. Users in India may now utilize the country’s premier payments system, Unified Payments Interface (UPI), to have immediate access to crypto assets.
MetaMask users will be able to buy cryptocurrency using local payment methods such as UPI and IMPS, without ever leaving the app. This change has the potential to significantly affect how crypto traders in India trade.
Boost For Crypto Adoption in India
Furthermore, to this point, the nation’s huge crypto trading community has been limited to using domestic crypto exchanges, despite the fact that the country has one of the world’s most onerous tax regimes when it comes to cryptocurrency transactions. With MetaMask’s UPI compatibility, buying and selling cryptocurrency in India will be quicker and cheaper than ever before.
With the crypto wallet’s support for UPI, the country’s web 3.0 infrastructure may advance significantly, particularly for new entrants. The UPI payments method ushered in a revolutionary change in the subcategory of small payments, which propelled the country’s digital infrastructure forward by leaps and bounds over the last five years. MetaMask joined together with Onramp money, a fast-payments service, to launch their payments effort in India.
Moreover, India, which now holds the G-20 presidency, has made public for the first time any information on its efforts to regulate cryptocurrency. In collaboration with India, the IMF is drafting a report that will examine the policies according to Ajay Seth, secretary of the Department of Economic Affairs.
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