Indian cryptocurrency exchange, Koinex announced it was bringing back the much-awaited INR deposits and withdrawals to its platforms. If one Koinex user wishes to withdraw their funds in INR and the other user wishes to deposit their INR into an account, the exchange’s ‘industry-leading matching engine’ links the two peers, and through a banking transaction between them, the funds are reflected in their account. To start the fund transaction, a user will need to go to their INR wallet and set up their UPI ID and username.
Koinex loop product manager Rishab Khanna told this new version to crypto-news india that
"Yes this is different from Loop. On Loop, a user can only trade in peer-to-peer cryptocurrency. However, this upgrade will only deal with INR transactions.
Also Talking about the development, Rahul Raj, co-founder of Koinex had told about Crypto-News India, ““For instance, when a new order is placed on the order book, Pushman is designated to convey that information as soon as it comes through, so users are instantly aware of the status of an order on the orderbook.”
Happy business
