CoinDCX Partners with Koinex to Enable Access for Users
CoinDCX has teamed up with Koinex, an Indian cryptocurrency exchange that ceased trading operations due to regulatory uncertainties, to allow users to retrieve their assets. Through a Memorandum of Understanding (MoU) deal, CoinDCX will facilitate the transition for its 100,000 users by providing access to their funds. Users who completed their Know Your Customer (KYC) procedures on Koinex before 2018 can seamlessly transfer their assets to CoinDCX. However, those who did not complete their KYC requirements will need to fulfill them on the CoinDCX platform. This collaboration offers a second chance for Koinex users who were unable to withdraw their funds during the shutdown.
RBI Considers Offline Solutions for Digital Rupee Adoption
Reserve Bank of India (RBI) Governor Shaktikanta Das has proposed using offline solutions to boost the adoption of the central bank’s digital rupee in remote areas. The RBI is exploring proximity and non-proximity-based options in hilly, rural, and urban environments with poor or limited internet connectivity. The aim is to introduce offline functionality in the Central Bank Digital Currency (CBDC-R) to enable transactions in these areas. The RBI has already initiated a successful pilot of its retail CBDC and is now focusing on addressing privacy concerns through technology solutions rather than solely relying on privacy legislation.
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