India based bitcoin exchange provider Unocoin announced a new partnership with mobile wallet giant MobiKwik to allow Unocoin users to top-up their MobiKwik wallets using bitcoin.
Naveen C T, Head of Business Strategic Alliance at Unocoin, had this to say about the new partnership,
“This partnership will help Unocoin users to use bitcoin across 50,000+ online merchants, 5000+ offline merchants and for utility bill payments through MobiKwik wallet.”
Unocoin explained how the new partnership will work, saying that Unocoin users that want to load their MobiKwik wallet using bitcoin will have to sign-in to their Unocoin account and choose to top-up their MobiKwik wallet.
The top-up feature can be filled using INR currency. The user will get an SMS confirming their wallet has been loaded and an equivalent amount worth bitcoin will be deducted from their Unocoin wallet. Once their wallet is filled, users will be able to pay at more than 50,000 online stores and 5,000 offline stores across India.
Just a few weeks ago Unocoin launched a merchant point-of-sale application which aims to make it easier for physical stores in India to accept bitcoin for products and services. Unocoin is a Boost VC funded startup focused on the Indian bitcoin market.
Boost VC is an accelerator who invests in startups who are using emerging technologies, such as bitcoin and blockchain. Boost VC recently revealed stats that they have invested over $50 million in blockchain startups, including Unocoin.