Payment gateways avoid powering crypto exchanges given RBI reservations

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While the Reserve Bank of India (RBI) and the National Payments Council of India (NPCI) have not made their stance clear on the usage of Unified Payment Interface (UPI) to buy and sell cryptocurrencies, payment aggregators under the Payments Council of India (PCI) have taken a conscious call to not work with crypto exchanges, given the central bank’s serious reservations around such assets.

Vishwas Patel, Chairman, Payments Council of India, said, “Payment Gateways are avoiding powering crypto exchanges. The payment gateways have not been working with the crypto exchanges …

While the Reserve Bank of India (RBI) and the National Payments Council of India (NPCI) have not made their stance clear on the usage of Unified Payment Interface (UPI) to buy and sell cryptocurrencies, payment aggregators under the Payments Council of India (PCI) have taken a conscious call to not work with crypto exchanges, given the central bank’s serious reservations around such assets.
Vishwas Patel, Chairman, Payments Council of India, said, “Payment Gateways are avoiding powering crypto exchanges. The payment gateways have not been working with the crypto exchanges …

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