30 Crypto ATMs Launching in India — Unocoin Unveils Solution to RBI Banking Ban

in cryptocurrency •  8 months ago 

A major crypto mart in India, Unocoin, has officially spoken the launch of its crypto ATMs. CEO Sathvik Vishwanath told that, initially, the visitor plans to deploy 30 machines in three Indian cities. “These ATMs help people to mazuma in and mazuma out which was not possible before” due to the crypto financial ban imposed by the country’s inside bank.

Sathvik Vishwanath, Unocoin’s CEO, revealed to news.Bitcoin.com on Sunday:

"The first ATM will be operational in Bangalore tomorrow…In the first phase we plan to deploy 30 machines…The first one is in Bangalore followed by Mumbai and New Delhi in the upcoming week."

Vishwanath clarified to news.Bitcoin.com that “The ATMs deployed by us do not need any banking partnerships. These are stand-alone machines that can accept and dispense cash,” elaborating:

"These ATMs help people to cash in and cash out which was not possible before due to RBI restriction on banks to not provide bank accounts. The gap is now completely filled by these ATMs except that physical access is required to deposit and withdraw money."

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