Unocoin releases API for Bitcoin wallets

BANGALORE, INDIA: India’s popular bitcoin company, Unocoin has implemented its first-ever, easy-to-access Application Programming Interface (API) allowing companies from around the world to access the world’s largest potential market for Bitcoin.

Unocoin’s API allows individuals and companies in India to generate bitcoin wallets; buy, sell, send and receive bitcoin; securely store bitcoin; retrieve real-time or historical price information; receive notifications when payments arrive; accept and request bitcoin payments for merchants; as well as allow companies around the world to remit bitcoin to India and to submit KYC details of beneficiaries.

The company’s full-featured iOS app and soon-to-be-released Android app are both built entirely off of the Unocoin API.

Unocoin co-founder and CEO, Sathvik Vishwanath said, “Our API is best described as an on-ramp for firms looking for a simple way to gain entry into one of the world’s fastest growing and largest potential markets.”

India is the remittance capital of the world, as well as the largest gold and IT market. While blockchain and bitcoin adoption climbs exponentially, businesses and individuals need the appropriate financial infrastructure to process secure transactions. The Unocoin API can plug right into any company, anywhere in the world, to assist them gaining access to the Indian bitcoin market and remittance industry, potentially worth an estimated $100 billion.

Blockstream, pioneers in cryptocurrencies and Bitcoin who developed sidechains to help users move digital assets from one blockchain to another, partnered with Unocoin to enable fast and low cost cross border transactions.

Paycase, a mobile-first remittance application, is now using the Unocoin API and Blockstream’s Liquid network to carry out frictionless money transfers from Canada to India.