Bitcoin Daily: Circle Teams With Crypto.com On Digital Asset Availability; India Spends Billions On Crypto

Crypto.com will make use of Circle‘s APIs in order to allow onramping of fiat funds and letting 10 million customers access USD Coin funds, a press release says.

Crypto.com users will be able to add value to their digital asset accounts and purchase cryptocurrencies including bitcoin, ethereum and others.

“Historically, transferring fiat into and out of crypto platforms has been an arduous process,” Kris Marszalek, cofounder and CEO of Crypto.com said. “Our partnership with Circle is yet another example of our commitment to working with the best partners in the industry to provide safe, reliable, and easy money transfer solutions to our customers around the world.”

BaFin, the German financial watchdog, has given Coinbase permission to provide crypto custody services and proprietary trading, a press release says.

The license is the first one granted by a crypto company in Germany.

With the license, the cryptocurrency exchange will be able to conduct proprietary trading for cryptocurrencies.

BTCChina, which is the first crypto exchange from China, has quit doing business in crypto as the Chinese authorities crack down on the digital assets, a report from the South China Morning Post says.

The regulators’ activities have made it so that several crypto companies are totally distancing themselves from the business.

The Chinese government’s activities have set off a wave of closures among that country’s mining operations.

BTCChina was started in 2011. Founders Huang Xiaoyu and Yang Linke helped to push the idea of cryptocurrency to Chinese investors, who at the time weren’t familiar with the concept.

Indian investments in cryptocurrency grew from $200 million to around $40 billion in the past year, a report from Yahoo Finance says.

In India, households hold more than 25,000 tons of gold. The country’s central bank is hostile to cryptocurrency.

Even still, there’s a growing number of Indian residents buying and selling cryptocurrencies, and the growth is largely coming from the people aged 18 to 35.