On April 7, 2022, Coinbase launched operations in India, with executives touting how straightforward it could be to commerce on the corporate app with funds being processed by Unified Funds Interface, or UPI, a broadly used funds system in India. Hours after the occasion, although, the entity that governs UPI, (Nationwide Funds Company of India, beneath the aegis of the RBI) tweeted to make clear that it was “not conscious of any crypto trade utilizing UPI.”
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