Unocoin Collaborates with ShapeShift; Develops Bitcoin Conversion Feature

With virtual currency gaining increasing popularity in India, existing cryptocurrency platforms are competing to introduce new features. Unocoin, one of the leading Bitcoin platforms in the country, has concluded a partnership deal with ShapeShift that will allow it to diversify its portfolio of cryptocurrencies on offer.

The platform’s new service will include conversion of Ethereum, Monero, ZCash, Dash and other altcoins to Bitcoin which could then be traded for INR.

Eric Voorhees, founder of ShapeShift, expressed his satisfaction with the fast expansion of the Bitcoin community in India. He also took pride in the fact that ShapeShift’s multi-currency support would make Unocoin the first trading platform to include altcoin varieties other than Bitcoin and Ether.

According to Sunny Ray, co-founder of Unocoin, the company is “keeping a close eye on the open blockchain ecosystem and may or may not introduce deeper integrations in the future.”

Although the deal is a positive development, India’s cryptocurrency market is still far from full-fledged operational support of multiple virtual currency assets.

Recent Posts

Bitcoin is not a good option for criminals, says former CIA Director in a new report

Bitcoin is not really being used in money laundering operations. And considering the fact every transaction is recorded on the…

14 hours ago

“caged bull” Bitcoin breaks into a new all-time high of almost $63,000

Just a day after Bloomberg analyst Mike McGlone called Bitcoin a “caged bull, well rested to escape”, the latter seemed…

17 hours ago

Ripple files motions to dismiss lawsuit as XRP blasts to new three-year high

Just before the weekend, Judge Sarah Netburn ruled that Ripple executives Brad Garlinghouse and Chris Larsen’s did not have to…

18 hours ago

Cardano, more than a hedge against Ethereum?

In a new video on the popular YouTube channel ‘Coin Bureau’, host Guy shares his thoughts on Cardano and the…

19 hours ago

Revolut brings eleven new Crypto assets to its platform

On Thursday, London-based digital payments firm Revolut announced that it had just added eleven new crypto assets to its banking…

1 day ago

Ripple’s XRP is skyrocketing as the team celebrates three wins in a row in its SEC lawsuit

This Friday, U.S. Judge Sarah Netburn granted Ripple’s motion to keep its CEO’s financial records private after the Securities and Exchange Commission…

3 days ago