Unocoin launches India’s first Bitcoin lending service
In short
Unocoin announced UnocoinXPledg in New Delhi on October 29. It says users can pledge Bitcoin and get personal loans in rupees, with multisig wallet security. It also says it has over 2.5 million registered users.
This matters for Indian Bitcoin holders who want rupees without selling their coins. The reporting does not say the loan terms, costs, or how many users will use the service.
What the reporting says
Unocoin announced UnocoinXPledg in New Delhi on October 29, introducing what a publisher-supplied summary calls India’s first Bitcoin lending service with multisig wallet security. The service lets eligible users pledge Bitcoin and get personal loans in INR from a regulated NBFC, with Unocoin saying it serves users since 2013 and has over 2.5 million registered users. The reporting does not state the loan terms or launch scale.
Why it matters
Unocoin announced UnocoinXPledg in New Delhi on October 29, according to a publisher-supplied summary. The service is described as India’s first Bitcoin lending product with multisig wallet security, allowing eligible users to pledge Bitcoin and obtain personal loans in INR from a regulated NBFC. The report says Unocoin has served Indian Bitcoin users since 2013 and has over 2.5 million registered users. Loan terms and scale are not stated.