Posted November 12, 2018 03:04:18 Indian banks are expected to begin accepting Bitcoin as a payment method by the end of the year, according to the country’s central bank.
Bitcoin is a digital currency that allows users to spend digital assets without using a bank or payment processor.
The digital currency has gained popularity in recent years, and its popularity has been attributed to its decentralized nature.
Banks have long struggled to accept payments through conventional means, and the lack of transparency surrounding the currency has contributed to its growth.
Indian banks are also expected to allow Bitcoin payments by early 2018, according a regulatory filing with the RBI.
The country has the world’s third-largest Bitcoin trading volume.
India’s central government has also indicated it is planning to set up a national Bitcoin exchange.