AMIDST uncertainty over the validity of cryptocurrencies and the Indian Central government's directions preventing banks from trading the same, Unocoin Technologies Private Ltd has set up India’s first ATM kiosk to trade in cryptocurrencies in Bangalore.
The first-of-its-kind automated teller machine will have both a trading and exchange platform, and will allow verified customers to use the device. It is expected to become operational soon.
This kiosk is accessible to registered customers of Unocoin and is located at Kemp Fort Mall, Old Airport Road, Bangalore. According to Unocoin, the customers will be able to buy or sell up to 10 Bitcoins — one of the high value cryptocurrencies per day. However, all the transactions will have to be conducted in Indian rupees which will then be changed into the currency of choice of the consumer
Source: The Times of India