Thu, Jun 22, 2017 | updated 07:41 PM IST

Unocoin reveals new API to boost new business

Updated: Nov 07, 2016 12:40 IST      
Unocoin reveals new API to boost new business

Bengaluru(Karnataka)[India], Nov. 7(ANI): Unocoin, India's bitcoin company, on Monday 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 and to take advantage of Unocoin's extraordinary set of features.

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.

Unocoin recently set a national record with a USD 1.5 million raise to support its unprecedented growth. The company now has more than 30 employees on staff servicing over 100,000 users. The Unocoin API has concluded rigorous testing and is already in active use by its largest customer: Unocoin itself.

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

Moreover, the Unocoin API has become instrumental in the day-to-day functionality of businesses like Paycase, a Canadian remittance innovator making overseas transactions much faster and more cost efficient.

"We've been excited to develop a robust API for use by companies around the world. 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. Our team has been working non-stop prior to and during our Pre-Series A round to provide the most reliable, full-featured API, but one that, most importantly, is incredibly easy to adopt," Unocoin co-founder and CEO, Sathvik Vishwanath said.

"Our API is the engine powering our mobile apps, through which customers will be able to store and spend bitcoin on the go, and also be able to buy bitcoin with just a click of a button," added Vishwanath.

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 USD100 billion.

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.

Paycase's protocol-agnostic transfer routing system has already been tested in nearly 20 countries around the world, using a sophisticated trading algorithm to route payments over a variety of cryptocurrency rails with far greater efficiency as compared to the traditional SWIFT network.

During a 6-month beta, Paycase successfully completed USD 50,000 worth of micro-transactions from Canada to the Philippines, with costs averaging 60-80 percent lower than traditional remittance players.

"Our work with Unocoin shows both company's long-term dedication to one another, in strategically partnering to take bitcoin and Blockchain powered remittances and cross border transfer to the mass market. We have worked together from Canada and India to establish the technical, regulatory, and business logic needed to enable Canadian dollar to Indian rupee money transfer with bitcoin efficiencies in place. With the API, experience, and infrastructure in place, we can now scale this model beyond our current corridors and into the promising Indian market," Paycase Co-founder and CEO Joseph Weinberg said.

Unocoin's recently released features include a merchant point-of-sale (POS) app, a mobile trading app, an auto-selling feature for remittance users, systematic investment planning (SIP) to mitigate against volatility risk, integration with NETKI to simplify Bitcoin addresses, an over the counter (OTC) desk for large traders, and integration with Purse.io for discounts on Amazon.(ANI)

Online banking users to reach 150 billion by 2020: Study

Updated: Jun 22, 2017 16:35 IST     

New Delhi [India], June 22 (ANI): With the ongoing digital drive in India, the number of users opting for online banking is expected to double to reach 150 million mark by 2020, from the current 45 million active urban online banking users in India, according to a report drafted by Facebook and The Boston Consulting Group (BCG).

Full Story >>

Video-calling made easier with Google Allo's latest update

Updated: Jun 22, 2017 14:46 IST     

New Delhi [India], June 22 (ANI): With the latest update on Allo messaging app, users can now make video calls using Google Duo, without going to the app itself!

Full Story >>

Instagram Stories now has 250m users, new 'replay' feature

Updated: Jun 21, 2017 17:38 IST     

New Delhi [India], June 21 (ANI): Commemorating its achievement of registering 250 million daily users on its 'Stories' feature, social media engagement platform Instagram on Wednesday announced an update to its 'Live Video' segment.

Full Story >>

HP Inc. introduces two new convertible notebooks

Updated: Jun 21, 2017 15:22 IST     

New Delhi [India], June 21 (ANI): Aiming to instill creativity among students, professionals and millennials, HP Inc. on Wednesday introduced two new convertible notebooks - HP Pavillion x360 and HP Spectre x360, enabled with Windows Ink capabilities.

Full Story >>

New Delhi [India], June 20 (ANI): In a bid to inspire art enthusiasts around the world to brush up their art knowledge and become art experts, Google has announced the latest updates on Search and Maps driving newer ways to experience artworks online.

Full Story >>

Hike launches wallet, UPI payments for quick transactions

Updated: Jun 20, 2017 17:32 IST     

New Delhi [India], June 20 (ANI): Home-grown messaging platform Hike Messenger on Tuesday launched the feature of 'Hike Wallet' on its all-new visually unique version Hike 5.0 to send and receive money in the most easiest manner.

Full Story >>

Waterloo [Ontario], June 20 (ANI): BlackBerry Limited on Tuesday announced productivity and security enhancements to its enterprise software platform designed to power the 'Enterprise of Things'.

Full Story >>

New Delhi [India], June 20 (ANI):The crippling financial implications of online banking security incidents have been brought to light by the latest Kaspersky Lab report into cyber security threats in the financial sector.

Full Story >>

New Delhi [India], June 19 (ANI): India's leading mobility solutions provider Avis India has announced the launch of its mobile app to enable Chauffeur Drive and Self Drive rentals in India.

Full Story >>

Google marks Father's Day through special doodle

Updated: Jun 18, 2017 08:10 IST     

New Delhi [India], June 18 (ANI): Google today is celebrating Father's Day 2017 dedicating an endearing doodle to all the fathers out there.

Full Story >>

Fujifilm launches Instax mini 9 cameras with selfie mirror

Updated: Jun 15, 2017 23:47 IST     

New Delhi [India], June 15 (ANI): Fujifilm India Pvt Ltd., on Thursday announced the launch of its new iconic Instax mini 9 instant camera, built in with a selfie mirror and close-up lens.

Full Story >>

New Delhi [India], June 15 (ANI-NewsVoir): Alibaba Mobile Business Group, part of Alibaba Digital Media and Entertainment, has announced the appointment of Damon Xi as Head of UCWeb India and Indonesia office.

Full Story >>

New Delhi [India], June 15(ANI): Toreto, a leading aggregator of portable technology on Wednesday launched its water-resistant Bluetooth earphone, 'TBE-804 Blare', best suited for sports enthusiasts.

Full Story >>

Accenture envisioning gender-balanced workforce by 2025

Updated: Jun 15, 2017 00:47 IST     

New Delhi [India], June 15 (ANI): Accenture on Wednesday announced its vision to achieve a gender-balanced workforce by 2025, with 50 percent women and 50 percent men.

Full Story >>

Instagram introduces new 'archive' feature

Updated: Jun 14, 2017 19:12 IST     

New Delhi [India] June 14 (ANI): Now, you can re-visit your old posts and enjoy those passed-by moments on Instagram.

Full Story >>

New Delhi [India] June 14 (ANI): South Korean multinational Samsung on Wednesday launched its anticipated Samsung Galaxy J7 Max and Samsung Galaxy J7 Pro, expanding its best-selling mid-range of Galaxy J smart phones.

Full Story >>

New Delhi [India], June 14 (ANI): Ericsson in its Mobility Report 2017 releases today has reported key trends and forecasts on mobile traffic, subscriptions, consumer behavior and technology uptake in India.

Full Story >>

New Delhi [India] June 14 (ANI): In continuation of its commitment to digitally empower India's small and medium business community, Google on Wednesday announced the launch of a new simple, free, and fast way to build a website through Google My Business.

Full Story >>

New Delhi [INDIA] June 14 (ANI): Safeguarding vehicles and their owners on the Indian roads, Trak N Tell has fared well, empowering over 20,000 vehicles on the Indian roads. This achievement is yet another feather in the cap, in its upward trajectory.

Full Story >>

Nokia marks its re-entry in India with three android phones

Updated: Jun 13, 2017 21:22 IST      By: Somdatta Saha

New Delhi [India], June 13 (ANI): HMD Globals launched its much-anticipated Nokia android phones on Tuesday in India, with a promise to provide "pure android" to the consumers.

Full Story >>