According to data from Chainalysis, there is a huge increase in crypto adoption in India and Pakistan.
According to Chainalysis, the crypto market in India and Pakistan is quite strong. In the last 12 months, there has been a 641% increase in the crypto sector in India, while there is a 711% growth in Pakistan. The activity of Indians on the crypto platform accounts for 60% of this. Venture investment in the crypto space in India has also increased, according to Chainalysis.
The report also reveals that Vietnam is also rapidly adopting crypto. Chainalysis considers Indian crypto investors to be part of major financial institutions.
But still Bitcoin and other crypto assets are not in India. Despite this, crypto activity in India is increasing day by day.
India’s Payment Giant May Launch Bitcoin Offering
The Economic Times reported that Paytm, the first company to enable digital payments in India, may consider offering Bitcoin to its customers if crypto assets become legal in the country.
Regulatory rules around Bitcoin so far have been in a very “gray area”, according to the company’s CFO, Madhur Deora. However, if the situation changes, Paytm will consider launching Bitcoin offerings.
This will be a very important step for India to adopt crypto.