India: Digital Asset Investment Firm B21 Launches as Country Opens Up to Crypto

Digital asset investing company B21 has launched its B21 Invest app in India. According to a release, B21 Invest simplifies the purchase and management of cryptocurrencies including Bitcoin, Ethereum, and EOS.

B21 Invest supports investment for as little as INR 2,000 ($25) per transaction. Users in India may invest using local fiat currency and local payment methods including Unified Payments Interface (UPI), debit cards, and bank transfers. The App is available both on the Apple App Store and Google Play.

B21 notes that the Supreme Court of India recently reversed a circular issued by the Reserve Bank of India (RBI) which prohibited banks from providing services to crypto traders, exchanges, and other businesses dealing in cryptocurrencies. The reversal has led to an increase in trading volumes and the announcement of multiple digital asset platforms operating in the country.

“India is fast becoming a major market for digital asset investing as the use of mobile technology expands alongside interest in alternative asset classes,” said Nitin Agarwal, Founder and Director B21. “B21 is proud to provide a method by which people can easily invest in digital assets directly from their mobile phones without having to learn how to navigate complex trading exchanges or managing their private keys. We are excited to launch our local Indian payment methods which will make investing even easier and more efficient.”

B21 reports that it has also formed a partnership with Minance, a wealth management firm offering derivatives and equities to private assets and international equities. B21 states that it will offer Minance clients a gateway for purchasing cryptocurrency thus integrating digital assets with more traditional offerings.

Anurag Bhatia, CEO and Head of Investments at Minance, said their research indicates a portfolio built on the largest cryptocurrencies is the best path for investors:

“The team at B21 has cracked this. Instead of building a platform with an overwhelming array of cryptocurrencies to evaluate, they’ve curated the top digital assets, providing investors a simplified gateway to this investment class.”

B21 says it is available to customers across 65 countries including the U.S. The firm has maintained an office in Bangalore since 2019 and expects to grow its client base in India to two hundred thousand active users by the end of 2020.

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