CoinSwitch Kuber temporarily disables rupee deposits

Source From: ENT 2022-04-12 03:40:24

Crypto trading platform CoinSwitch Kuber has disabled all payments modes for crypto purchases on its platform, including bank transfers.

Users of the CoinSwitch mobile app are no longer able to make rupee deposits via Unified Payments Interface (UPI) or bank transfers via NEFT, RTGS, IMPS, and other methods.

The news comes days after Coinbase, one of the leading cryptocurrency exchanges, had reportedly suspended support for UPI payments instrument on its app in the country.

According to TechCrunch, users in India attempting to purchase any token listed on the Coinbase app are being informed that the UPI payment method is "currently unavailable".

The app urges users to try another payment method, but it currently does not support any other method for purchases in the country, according to users, tests, and the company's own support page.