HashCash Plans to Invest USD 10 Million in the Indian Crypto Economy in 2020
With the Supreme Court, lifting the RBI imposed ban on cryptocurrency trading in India, the till now dormant country is ready for a rebound. USA’s HashCash Consultants plans to invest in the country’s Blockchain and Cryptocurrency economy in 2020
HashCash Consultants is planning to invest $10 million in the recently revived Indian Crypto industry in 2020. The country’s Supreme Court on Wednesday, March 4th lifted the two year virtual currency trading ban imposed by Reserve Bank of India. The landmark verdict was soon followed by HashCash’s announcement of major investment plans involving the crypto industry of India.
Being the parent company of USA’s leading cryptocurrency exchange PayBito, HashCash has also indicated significant crypto collaborations with the local enterprises.
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Welcoming the verdict, Raj Chowdhury, CEO of HashCash Consultants commented, “I would say that it’s better late than never. This is a historic judgment by Supreme Court that puts India back in the global crypto map. The reinstating of cryptocurrency activities has opened up an entire geography, for fresh collaborations and ventures for the global players, forecasting prospects for the crypto industry and the Indian economy at large.”
He further added, “With the crypto market displaying bullish trends, this decision could not have come at a better time. HashCash is looking forward to boosting the Indian economy by expanding operations, offering technology & infrastructure and incubating startups in the region.”
HashCash has a robust network of partners across geographies, including Global banks, conglomerates, and financial institutions with investments in different verticals. Currently, the company is focusing on expanding the network in Africa, UAE and India.
Before RBI imposed the ban on virtual currency trading in April 2018, India was considered as one of the most promising crypto markets in the world. However, the two years of dormancy didn’t put a dent in the country’s repute as a viable market. The ban lift was followed by significant crypto exchange trading surges in the country with a bullish impact on the global markets as well.
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