India might soon have a cryptocurrency ATM courtesy of a local digital currency exchange known as Unocoin.
A recent Inc42 report revealed that the Indian crypto exchange wants to be the first to launch a cryptocurrency ATM in India. The report also revealed that Uniocoin?s upcoming crypto exchange will support. The report comes at a time when the country has been waiting for the Supreme Court of India to deliver its verdict on the use of cryptocurrencies in the country.
There has been tension over the status of digital currencies in the country and even a crackdown on cryptocurrency mining firms. Crypto enthusiasts have been waiting for the Supreme Court to rule in favor of cryptocurrency use in India. Meanwhile, Unocoin is one of the major cryptocurrency firms in the country.
Unocoin?s planned digital currency ATM will be located at 147 MG Road in Delhi. The firm has remained silent on the matter but recently released a statement. The ATM will reportedly support multiple cryptocurrencies.
?The placement of the ATM is in the development phase. It may take a week?s time before we release details through official statement ? once we have all the pieces of it working together,? stated Sathvik Vishwanath, Unocoin?s CEO.
Twitter reacts positively to the news of crypto ATMs in India
Some Indians took to the Twitter microblogging platform to express their excitement over the upcoming crypto ATM. One user tweeted a statement made by the Unocoin CEO, revealing t has not yet been publicized. However, the statement confirmed that the crypto ATM would indeed become a reality in India.
? Koinlocker (@koinlocker_cryp) October 12, 2018
More launches to come in the future
Vishwanath did not talk about any legal implications concerning the launch of the crypto ATM although it is likely that the company is waiting on the Supreme Court?s ruling. The Unocoin CEO also revealed that the crypto ATMs will be launched in malls across New Delhi, although he did not reveal the exact locations.