NPCI statement says "unaware of exchanges offering UPI as an option for buying crypto"

In a statement, NPCI clarified that they are unaware of any crypto exchange in India that offers UPI as an option to buy cryptocurrencies however according to sources, that there are some exchanges operating in India with this option.

Recently, some crypto investors took to Twitter to discuss their experience of buying cryptocurrencies via UPI on the Coinbase platform.

On Thursday, the National Payments Corporation of India (NPCI) released a statement saying they are not aware of any crypto exchanges operating in India that allow users to use its Unified Payments Interface or UPI to buy cryptocurrencies.

"With reference to some recent media reports around the purchase of Cryptocurrencies using UPI, National Payments Corporation of India would like to clarify that we are not aware of any crypto exchange using UPI," the statement said.

"Presently there are few payment processors who are already providing UPI access and it continues to work. We do provide an option for our users to buy using deposits done through UPI," Sathvik Vishwanath, founder, and CEO of Unocoin crypto exchange said.

Mridul Gupta, COO of CoinDCX cryptocurrency exchange told BT that "CoinDCX has a robust UPI based payment capabilities already developed for its users."