How to buy or sell the hottest brands in Mumbai with Flipkart, Snapdeal and others
Mumbai: Flipkarn, Snap, and others have become global players, while in India, fashion exchange Flipkard has made an impressive showing with more than 20 million transactions in just one day.
With so many of the biggest brands already present, it’s no surprise that many are willing to exchange products for bitcoins, which can be sent for free by anyone with a smartphone.
But in a bid to ensure that the exchange continues to operate efficiently and attract a wide range of users, Flipkarts stock exchanges are trying to expand their operations and reach a wider audience.
On Monday, Flipks founder and CEO Vijay Shekhar Sharma, who is also chairman of Snapdeal, announced that Flipkards stock exchanges will soon start accepting bitcoin for trading.
“The stock exchange that has the highest number of transactions in India is Flipkarna.
This is a global exchange and we are trying our best to attract users,” Sharma said on the company’s website.
In fact, the Flipkarthas largest exchange, Mumbai Stock Exchange, is accepting bitcoins for trading at the moment.
The company says the move is part of a larger strategy to create a platform for the cryptocurrency industry, which Sharma hopes will help its customers to move away from traditional currencies.
“We are also investing in a blockchain infrastructure to enable our users to convert their fiat currency to bitcoin and vice versa,” Sharma told ET.
“We are building a platform that will be ready by the end of 2019.
This will help the exchange become a destination for traders, and it will help us attract more customers.”
While it’s unlikely that Flipks stock exchanges would have much interest in the cryptocurrency market at this stage, Sharma said he was confident that its bitcoin acceptance will help to boost the popularity of the cryptocurrency in the country.
“For us, bitcoin is a big issue.
It has been a big problem for us to get our customers to transact.
I hope that we will be able to help in this regard,” he said.
For now, Sharma has asked his team to get the bitcoin exchange going as soon as possible, and he expects it to launch a portal to facilitate users to purchase goods and services from the exchange by the month-end.