India cannot risk being a late mover in accepting crypto: CoinSwitch’s Ashish Singhal
Cryptocurrencies provide India an opportunity to turn into a net exporter from a net importer of technology, according to Ashish Singhal, Founder and CEO of crypto exchange CoinSwitch Kuber.
Speaking at Mumbai Micro Experience of FinTech Festival India 2021-22, Singhal said, “We cannot be the late movers in accepting crypto. We already missed the first bus of Internet 1.0. Today 70 percent of our revenues go to US-based tech giants. We are a net importer of technology. We import over $10 billion of this technology every year and it is expected to grow to $45-30 billion over the next 3-4 years.”
Early participation in cryptocurrencies could give India the chance to become a net exporter of crypto and blockchain technology, Singhal added.
Mrutyu
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