The use of the CBDC on the cryptocurrency exchange will enhance security and, it hopes, attract merchants.
Cryptocurrency exchange Bybit has launched digital rupee payments. The introduction of the Indian central bank digital currency (CBDC) on the exchange will enhance security for rupee users, the exchange said.
The e-rupee will be available as a wallet-based payment solution. It joins existing Bybit options for payment in rupees by bank transfer, third-party services such as Paytm and India’s Unified Payments Interface, which is the Reserve Bank of India’s (RBI’s) national payments portal.
With the digital rupee, users “can mitigate the risk of their bank accounts being targeted by cybercriminals,” Dubai-based Bybit assured in a statement. Bybit sales and marketing director Joan Han said:
