HashCash Consultants, a global blockchain infrastructure and software company, announced today it is planning to invest $10 million in the Indian crypto industry in 2020.
Last week, the country’s Supreme Court lifted the two-year virtual currency banking ban imposed by the Reserve Bank of India.
Being the parent company of USA’s cryptocurrency exchange PayBito, HashCash has also indicated significant crypto collaborations with local enterprises.
“I would say that it’s better late than never. This is a historic judgment by Supreme Court that puts India back in the global crypto map. The reinstating of cryptocurrency activities has opened up entire geography, for fresh collaborations and ventures for the global players, forecasting prospects for the crypto industry and the Indian economy at large. With the crypto market displaying bullish trends, this decision could not have come at a better time. HashCash is looking forward to boosting the Indian economy by expanding operations, offering technology & infrastructure and incubating startups in the region.”
– Raj Chowdhury, CEO of HashCash Consultants
HashCash has a robust network of partners across diverse geographies, including global banks, conglomerates, and financial institutions with investments in different verticals. Currently, the company is focusing on expanding the network in Africa, UAE, and India.
Before RBI imposed the ban on virtual currency trading in April 2018, India was considered as one of the most promising crypto markets in the world. However, the two years of dormancy didn’t put a dent in the country’s repute as a viable market. The ban lift was followed by significant crypto exchange trading surges in the country with a bullish impact on the global markets as well.