India’s popular bitcoin company, Unocoin has today launched its first-ever application programming interface (API). With the new API, companies and individuals will be able to generate bitcoin wallets. Further, they will also be able to buy, sell, send and receive bitcoins. Bitcoin wallets will permit merchants to request and accept payments across the globe. Also its partnership with Blockstream, cross-border transactions will be carried out at an economically driven faster pace.
Commenting on the launch of the API, Sathvik Vishwanath, co-founder and CEO of Unocoin said,
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.
The company had been hard at work to develop a robust API for use by companies around the world. This 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.” The Unocoin team has been working non-stop prior to and during our pre-series A round to provide the most reliable, full-featured API to its customers.
The API will furnish the users with historical as well as real-time price updates of bitcoin. It also includes alerts regarding the arrival of payments. Further, it will enable companies to submit KYC(know your customer) details of beneficiaries and to remit bitcoins to India. The company is planning to release its android app which will be built entirely off the API.
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,
adds Vishwanath.
The funding of $1.5 million raised by the bitcoin company in September is being planned to be used for product development, and team plus geographical expansion. The major investors include Blume Ventures, Mumbai Angels and ah! Ventures along with international investors such as Digital Currency Group, Boost VC, Bank to the Future and FundersClub.
Transfers from Canada to India are now much easier as Paycase, a Canadian remittance platform, is using Unocoin’s API and Blockstream’s Liquid network. With the release of its API, Unocoin still has a really long way to tread.
With the API and infrastructure in place, we can now scale this model beyond our current corridors and into the promising Indian market,
said Paycase Co-founder and CEO Joseph Weinberg.
