While Paytm did not comment on this development, one of India’s biggest crypto exchange, WazirX, with more than four million users, however, said it will soon add two more channels for bank deposits. Another crypto exchange, BuyUcoin, said Paytm Payments Bank suspended support to the exchange without an official reason.
At present, users can only add funds to the exchange via peer-to-peer (P2P) transactions. Under this route, users convert their rupees to crypto tether (USDT) by trading with other users. The exchange facilitates the conversion through an escrow mechanism but does not directly accept rupee credits.
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