Indian bitcoin company Unocoin announced its partnership with cryptocurrency exchange platform ShapeShift and is now allowing users to convert blockchain assets into bitcoin.
The partnership uses ShapeShift’s API ad enables Unocoin users to convert blockchain assets such as Ethereum, Monero, Zcash and Dash directly into bitcoin and then if desired, into INR, the release stated.
“It’s been tremendously exciting to see UnoCoin help bring this technology into India. ShapeShift is very proud to partner with them for digital asset exchange,” Erik Voorhees, bitcoin evangelist and ShapeShift founder, said.
With the new integration, users can trigger the immediate conversion of their Altcoin holdings including Ether, Monero or Zcash, into bitcoin directly from within the Unocoin platform. These converted bitcoins can be then easily withdrawn to the user’s bank account.
“By being an industry leader, we wanted to provide a solution to the long-standing challenge of being able to convert crypto-currencies into bitcoin in India. Unocoin’s Shapeshift integration will enable users to convert their Altcoin into bitcoin and then sell it for INR. We expect this to be yet another popular offering,” Harish B V, Co-Founder, and COO of Unocoin, stated.
By enabling users to convert popular digital currencies into bitcoin and INR, this integration supports the blockchain community as well as serves Unocoin’s mission. The partnership will help drive more interest into the blockchain ecosystem and adoption for the emerging cryptocurrency space within India.
