The partnership with Unocoin intends to give Blockchain users across India the ability to quickly and easily fund their Blockchain wallets.
Starting Sept. 6, Blockchain wallet users in India will be able to link their bank account directly with their wallet when buying Bitcoins from Unocoin.
This feature will surely help Blockchain wallets to rapidly expand their user base in a country like India, where credit/debit card adoption is still trailing some of the more mature economies where Blockchain operates. This move also enables both companies to leverage each other's strong areas, letting them develop a more robust infrastructure without compromising on security and control.
India is a rapidly growing market for cryptocurrencies, which is evident by an increased uptick in Bitcoin buying after the demonetisation drive.
The demonetisation effectively took out high value fiat currency notes from circulation, causing a widespread cash crunch for months, and leading to a Bitcoin buying frenzy due to its status as a non-government controlled asset.
The Unocoin integration is available to Blockchain wallet web users immediately, and there are plans to expand it to the Blockchain wallet Android and iOS apps in the near future.