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Major Indian bank breaks ‘banking ban’ with WazirX crypto exchange deal
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Kotak, India’s leading private bank, has reportedly become the first to open its gates to the crypto community, as per a report published in Economic Times.
The banking giant announced it has partnered with the leading crypto exchange WazirX, which would allow traders to use the banking services to liquidate their funds. The partnership between the two parties is being seen as a major breakthrough for the crypto community given Indian banks have frozen crypto payments and withdrawals for the past eight months.
"WazirX has opened an account with Kotak which can be used to receive and pay money to investors trading on the exchange. The account is yet to become operational. Paperwork, KYC, and some testing are on," said one of the people
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