THE NEW AGE CRYPTO WORLD
Asset-backed coins and stable coins will prevail in the future .
We believe that technology will make compliance easier in the future .
We see public as well as private organizations leveraging fintech , including blockchain , for their needs .
Blockchain is already being explored extensively in India by multiple organizations . We are seeing huge interest from customers across various business domains .
Digital currency – a “ Central Bank Digital Rupee ,” or CBDR – is being explored by policymakers in India , given the focus towards moving towards a digital economy , and the value that digital currency can offer in terms of enabling instantaneous settlements , reduced handling of paper and coins , and increased transparency . Many banks already offer crypto transactions for their customers via third-party providers . However , in order to enable full conversion and to be able to use the virtual assets as collateral for loans , etc ., banks must have their Virtual Assets Service Provider ( VASP ) service approved by their local regulator . They must therefore demonstrate that they comply with all the rules of local banking legislation and have the appropriate facilities , regulations and instructions , people with the appropriate know-how and , above all , adequate risk management .
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