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).
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 te
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