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India’s WazirX opens account with country’s third-largest pvt. sector bank
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India’s regulatory woes pertaining to cryptos now seem to be easing a little, despite the absence of a clear consensus. Regardless, the threat of private cryptocurrencies being banned has stalled for now, with the banking sector already opening its doors to the crypto-community.
In fact, according to a local media report, the country’s Kotak Bank has formed a business relationship with top crypto-exchange WaxirX. This development comes on the back of almost eight months of payment freeze followed by most leading Indian banks.
A source close to the matter was reported as saying,
“WazirX has opened an account with Kotak which can be used to receive and pay money to investors trading on the exchange. The account is yet to become operational.
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