Crypto Mobile Apps Are on the Rise in India Following Supreme Court Ruling

Indian crypto developers have started releasing new mobile apps, following a positive ruling from the country’s Supreme Court regarding blockchain technology. The court ruling struck down laws that previously prohibited banks from providing services to merchants and crypto businesses.

Growing interest in the Indian crypto market

B21, a digital asset investment firm, recently launched its own Blockchain investment wallet app in light of these changes. They claimed that the Supreme Court of India’s announcement “spurred renewed interest in investing in digital assets and increased trading volumes” in the country.

Speaking to Cointelegraph, Nitin Agarwal, Founder and Director of B21, commented on the technology’s market potential in India, following the Supreme Court ruling:

“The decision in India has helped us focus on partnerships and marketing in India, as we see a large smartphone savvy population and also a large emerging class of investors looking for business opportunities. investment that were not previously available.”

Will crypto remain legal in India?

The B21 founder said India has “a lot” to contribute to the development of crypto-assets and the emerging blockchain ecosystem.

However, the Supreme Court’s ruling on cryptos in India may still face future challenges. Cointelegraph reported on June 12 that India’s Ministry of Finance has proposed a ban on cryptocurrencies in the subcontinent.