Bitcoin’s popularity in India is steadily growing, particularly in the country’s third most populous city, Bangalore. Leading Indian bitcoin exchange Unocoin is based in the city, and has been helping merchants accept bitcoin there. Bitcoin.com talked to CEO Sathvik Vishwanath about the bitcoin economy in Bangalore and throughout India.
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Southern Indian city Bangalore, officially known as Bengaluru, is India’s third most populous city, with about 8.42 million people.
Many merchants in the area accept bitcoin through the Bangalore-based Unocoin, one of the largest bitcoin exchanges in the country, which also provides merchant services. Early this month, the company reported that it had surpassed 300,000 registered users. The platform also processes more than 200 million INR every month, according to CEO and co-founder Sathvik Vishwanath.
He told Bitcoin.com that the total number of merchants accepting bitcoin in his city is “about 400 now,” adding that:We have got more than 50 outlets to accepting bitcoin in this month alone.
The use of bitcoin in Bangalore is widespread, Business Standard recently described, adding that products and services that can be purchased with bitcoin in the city include bus tickets, meals, e-shopping vouchers, and getting a haircut.
Some of Unocoin’s merchants include India’s largest book mall Sap...