Business Standard

Bitcoin and millennials: How Indian crypto entrepreneurs beat the system

India's share of person-to-person virtual-currency trading in Asia has surged to 33%, the same as in China

Photo: Reuters
Premium

Sending money to India in a tokenized form, and thus avoiding hefty bank charges, is becoming an option. Photo: Reuters

Andy Mukherjee | Bloomberg
With the speed cryptocurrency is emerging as the Millennial generation’s alternative asset of choice in India, it’s hard to imagine that just two years ago a couple of blockchain pioneers were briefly in police custody.

Sathvik Vishwanath and Harish BV, cofounders of a then five-year-old startup, were arrested in late 2018. No, they hadn’t pulled off a shady initial coin offering. Their “crime” was that they put up a kiosk in a mall in Bangalore where customers could swap Bitcoin, Ether or Ripple for cash or vice versa. That was the whole point of Unocoin, their crypto token exchange. But the

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Nov 27 2020 | 9:06 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com