Coinbase suspends payment services in India
The cryptocurrency service announced the stoppage of UPI payments for India just three days after the launching
Coinbase announced the suspension of the payment service through the United Payments Interface (UPI) on the platform that works in India.
This closure occurs just three days after it was launched in the South Asian subcontinent.
UPI is a payment gateway that is regulated by the National Payments Corporation of India (NPCI), which allows purchase orders to be generated in India.
For now, the company urged the Indians to try the Immediate Payment Service (IMP), in order to work their sales orders.
Coinbase stated that it would work to remedy the situation in India with the appropriate regulators, and that it was “committed to working with the NPCI and other relevant authorities to ensure that we are aligned with local expectations and industry norms.”
K. Tovar
Source: Cointelegraph
