Malaysian Company Belfrics has launched its India-based Bitcoin exchange that would enable people to sell or buy Bitcoins using Indian currency.
Belfrics is also planning to come up with PoS and Bitcoin payment gateway for online and retail merchants. This service comes free of charge and Belfrics will be using its international expertise in block chain and decentralised application development that is intended to bring transparency, efficiency and neutrality to the financial transactions.
The Bitcoin technology provider is present in Singapore, Kenya, Hong Kong and Malaysia.
This development comes on the back of the recent demonetisation efforts taken by the Indian governments push to move India towards a digital-based cashless economy.
Bitcoin is a cryptocurrency and a payment system invented by an unidentified programmer, or group of programmers, under the name of Satoshi Nakamoto.
Bitcoin was introduced on 31 October 2008 to a cryptography mailing list, and released as open-source software in 2009.