BuyUcoin gets licence to operate in Estonia, partners with MobiKwik

New Delhi based crypto exchange and blockchain wallet company BuyUcoin has obtained a crypto trade and wallet licence in Estonia.

The company, registered as iBlock Technologies Private Limited, aims to expand its services to other countries in the near future, it said in a statement. 

BuyUcoin offers multi-cryptocurrency trading, buying, and selling facilities.

The company has also entered into a partnership with Gurugram headquartered financial services company MobiKwik to enable users to buy and sell assets using smartphone-based transactions, according to a statement.

In a major reprieve for cryptocurrency companies in India, the Supreme Court of India, last month, quashed the Reserve Bank of India (RBI) ban on virtual currencies like Bitcoin.

Founded in 2016 by Shivam Thakral, Devesh Aggrawal, and Atulya Bhatt, BuyUcoin is an online platform where traders and consumers transact with multiple digital currencies.

The firm claims to currently serve more than 200,000 users and handle more than $30m in transactions with digital currencies like Bitcoin, Ethereum, Ripple, NEO, Bitcoin Cash, Dash available online.

MobiKwik provides a fintech platform designed for online payments, life insurance, and loans. At present, it has a user base of over 107 million users.

Talking about the Covid-19 pandemic, the company has announced an initiative to contribute its part on the fight against the hostile situation.

“We will donate 15 percent of our exchange trading fees to the Covid-19 relief fund for the next three months to help the Indian government in its battle against coronavirus," Thakral added.