• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
Digital currency

India’s Digital Currency Pilot Could Include Amazon, Google, And Walmart

Christian Encila
by Christian Encila
1 year ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Major internet and retail giants like Google, Amazon, and Walmart are showing a lot of interest in participating in the current pilot program for India’s Central Bank Digital Currency (CBDC), also known as the e-rupee, according to the Reserve Bank of India (RBI).

Related Reading: Dogecoin Payments On X: DOGE Lead Finally Speaks Out

This latest development, according to a report by Reuters, is a demonstration of the popularity of digital currencies and the opportunity these businesses have to use their vast payment networks to advance the e-rupee’s adoption.

Beginning in December 2022, the e-rupee trial became exclusive to banks. But the RBI recently broadened the eligibility to include payment companies, so that services like PhonePe, Google Pay, and Amazon Pay may take part.

Between them, these businesses handle more than 85% of all digital currency payments made in India via the Unified Payments Interface (UPI), processing almost 13 billion transactions per month.

Increasing Participation In The Digital Currency Pilot

Expanding the test program was the right thing for RBI to do as part of its bigger plan to promote the e-rupee. The goal of this digital money project is to make financial deals safer and more efficient by turning them into digital files.

The action is also meant to guarantee that the digital currency is strong and dependable before its whole-scale use, therefore fostering public confidence in the new system.

Total crypto market cap at $1.77 trillion on the daily chart: TradingView.com

Expanding the pilot helps the RBI to collect more information and insights on the use cases of the e-rupee, thereby improving the efficiency of the payment system and pushing for wider financial inclusion throughout the nation.

State Bank of India, ICICI Bank, and HDFC Bank are participants in the pilot program. After incorporating key payment systems, the central bank anticipates an increase in transaction volumes, and growing user engagement with the digital money.

Digital wallets enable users to hold and transfer e-rupees like cash. The pilot initiative began in New Delhi and Mumbai then expanded to Hyderabad and Ahmedabad. The RBI plans to expand the e-rupee’s partner finance institutions and venues one step at a time.

Related Reading: Federal Police Uncover Major Crypto Scam: 2,000 Aussie Wallets Hacked

Will The Tech Giants’ Presence Make An Impact?

Although the number of digital currency transactions peaked at over a million per day at first, the use has since decreased to an average of 100,000 to 200,000 each day. It is anticipated that the RBI’s move to include well-known payment companies would spark renewed interest in digital currency and encourage more people to interact with it.

The RBI has said that the pilot program will continue for a number of years and that it does not currently have plans to introduce the e-rupee on a large scale. This meticulous method ensures that the digital money is tested and enhanced before widespread usage.

Featured image from Live Science, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christian Encila

Christian Encila

Follow

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Full Profile

Related Posts

crypto

2,700 Crypto Rigs Seized: Russia Launches Biggest Mining Raid Of The Year

5 hours ago
Cardano Price Prediction, a DeepSeek Analysis & Best Crypto to Buy Recommendation

Cardano Price Prediction, a DeepSeek Analysis & Best Crypto to Buy Recommendation

6 hours ago
BNB Turns Viral & Surpasses XRP as Best Meme Coins like Maxi Doge Explode

BNB Turns Viral & Surpasses XRP as Best Meme Coins like Maxi Doge Explode

8 hours ago
SEC Brings Crypto Innovation Exemptions: $HYPER Benefits

SEC Brings Crypto Innovation Exemptions: $HYPER Benefits

9 hours ago
S&P Global’s New Crypto Index Sparks Investor Interest — Here Are the Best Altcoins to Buy Now

S&P Global’s New Crypto Index Sparks Investor Interest — Here Are the Best Altcoins to Buy Now

10 hours ago
Next Crypto to Explode Live News Today: Timely Insights for Chart Sniffers (October 8)

Next Crypto to Explode Live News Today: Timely Insights for Chart Sniffers (October 8)

2 hours ago

Premium Sponsors

Press Releases

  • ...

    10 hours ago
  • Your Chance to Win Up to 10% Deposit Bonus and Up to 21K $USDT Bonus Prizes at KCEX

    Your Chance to Win Up to 10% Deposit Bonus and Up to 21K...

    14 hours ago
  • 分析師稱 FARTCOIN 有望暴漲...

    15 hours ago
  • Fleet Asset Management Group Brings the Power of Cloud Crypto Mining in a Low-Carbon Package.

    Fleet Asset Management Group Brings the Power of Cloud...

    1 day ago
  • The Quiet Market Shift Investors Might Be Missing: How Tapzi Is Challenging Institutional Favorites

    The Quiet Market Shift Investors Might Be Missing: How...

    5 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.