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Bybit, the world's second-largest cryptocurrency exchange by trading volume, has introduced Digital Rupee (eRupee) as a new payment method for its Indian users. The wallet-based mobile payment solution aims to provide a more secure and convenient transaction option on the platform.
The move comes in response to concerns raised by Bybit's Indian merchants regarding the security of traditional banking transactions. By accepting payments through eRupee, merchants can potentially reduce the risk of cyber attacks on their bank accounts.
Joan Han, Sales and Marketing Director at Bybit, stated: "We are excited to unveil Digital Rupee (eRupee) as a cutting-edge payment option for our valued users. By incorporating the eRupee payment, Bybit aims to elevate the payment experience for INR users, fostering trust and reliability in every transaction. Furthermore, this initiative is expected to attract a wider pool of merchants to the platform, driving business growth and expanding the reach of Bybit's services within the market."
The company expects this new payment method to enhance user experience and potentially attract more merchants to the platform, thereby expanding Bybit's presence in the Indian market.
Bybit, established in 2018, currently serves over 37 million users globally. The exchange offers features such as an ultra-fast matching engine and 24/7 customer service in multiple languages.
