Cred becomes first fintech to offer India's e-rupee, facing challenges in user adoption.

Indian fintech firm Cred has become the first platform to offer access to the country's central bank digital currency, the e-rupee. Initially, only banks could participate, but the Reserve Bank of India expanded the opportunity to payment firms in April 2024. Cred plans to roll out e-rupee wallets to a select group of users with YES Bank facilitating the issuance of tokens. Despite initial interest, e-rupee usage has declined, reflecting a global challenge in promoting digital currencies.

2 months ago
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