Topic: Indian crypto currencies exchanges to get solution for fiat deposit and withdraw (Read 123 times)

In December 2017 bitcoin reached $19000 and with its highest peak price many government authorities started questioning on crypto currencies as an investment option. Few countries have started to recognize bitcoin as an asset, while few countries have started to put legal ban on it.

On May 7, 2018 Russian court announced to consider crypto currencies as an asset and called it as digital currency. Venezuela has already announced its support to crypto currency and they are in process to launch their own national crypto currency. Even Japan’s court has given order to seize crypto currencies in many legal cases considering it as an asset.

On July 6, 2018 Supreme court of India declined to offer relief from the restriction kept by Reserve Bank of India on all Indian banks for providing services to crypto currency exchanges. With this decision many crypto currencies’ exchanges stopped payment deposit as well as withdrawal services in India.

Countries like Venezuela announced that they will supply oil to India at 30% discount if Indian Govt legally supports crypto currencies and are ready to accept payment in the form of crypto currencies.

Currently Indian crypto currencies’ traders and investors are advised to use peer to peer exchange services for selling crypto currencies and get payment transferred in bank accounts. But, unfortunately users of peer to peer exchange like Local Bitcoin are selling at the loss of $735 when compared to centralized exchange trading price in India.

At Cross Platform Payment Gateway, we are in process to implement solution for overcoming legal as well as price difference issues mentioned above. Cross Platform Payment Gateway is implementing platform and API which other exchanges can use for transferring money in bank accounts by integrating Ripple Via API. We will be soon able to provide withdrawal facilities to users of Yes Bank, Axis Bank, Kotak Bank, IndusInd Bank and State Bank of India. Users of this bank will get money deposited within 10 seconds and payment will be processed from overseas banking network. For banks which are not available on Ripple network will receive payment in 3 days. There is no direct connection with Indian Banks and crypto currencies exchanges hence this will not contravene Reserve Bank of India’s restriction while processing payments. Also processing fees will be less than existing fees.

This service can be used by exchanges, any private institutes, payment processing services, freelancers to accept payment in cryptocurrencies and withdraw it in fiat currencies globally.

We have already mentioned details about its implementation in our white paper which is available for downloading on our website.
http://cppg.io/CPPGToken-WhitePaper.pdf

Cross Platform Payment Gateway has already invited corporates to participate in beta testing program of platform and updates about project development is available in below article.
https://medium.com/@CPPGToken/cross-platform-payment-gateway-cppg-token-project-updates-reviews-exchange-listing-and-b25929091c40

Cross Platform Payment Gateway (CPPG Token) is already trading on below 3 exchanges:
www.ecex.exchange
www.tokenjar.io
www.joyso.io

Also, Antriex Mercantile Exchange has already confirmed official partnership and will be available soon for trading.

You can reach out to CPPG team for more information
Website: www.cppg.io
Email: [email protected]
Twitter: https://www.twitter.com/CPPGToken
Telegram: https://t.me/CPPGToken

Regards,
Team CPPG