The move follows a strange statement from the National Payments Corporation of India, the governing body that oversees UPI in the country, which said hours after Coinbase’s India launch earlier this week that it was not aware of any crypto exchange using UPI payments instrument. Coinbase began testing UPI payments in India several weeks ago.
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Coinbase suspends buy orders in India days after launch
Brian Armstrong, co-founder and chief executive of Coinbase, said earlier this week the firm was making a long-term bet on India and planned to more than triple its headcount in the country to 1,000 this year.
