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GoStats introduces Bitcoin cashback rewards card in India

By
Redakcja
-
3 min reading

Bitcoin (BTC) rewards company GoStats recently introduced a new cashback rewards card for customers in India mostly giving out a platform for wider mainstream adoption of digital assets in the world’s second-most heavily populated country.

https://tokeneo.com/cryptocurrencies/bitcoin/The latest product is in partnership with the National Payments Corporation of India, also known as NPCI, a not-for-profit organisation focused on promoting digital payments and settlement systems all around the country. The organisation was founded in December 2008 and is under the direct ownership of the Reserve Bank of India. 

The GoSats rewards card is available in Mobile app and browser extension gives the users to earn cashback paid in BTC while shopping at top brands such as Amazon, Starbucks and Flipkart. GoStats was built on Stacks, which provides smart contracts and apps for Bitcoin. Also, the rewards cards absorb Stacks clarity smart contracts and “stacking” which gives users a way to earn BTC through the STX token. The NPCI partnership mentions that GoSats is trying to avoid any regulatory barriers in rolling out services. Mohammad Roshan, GoStats CEO and co-founder said the partnership will let the fir, to “Offer users bitcoin earning opportunities using NPCI’s existing card network”. 

“Beforehand, people could only get Bitcoin cashback on specific brands through our app but now can earn cashback in Bitcoin on every spend.” GoStats was launched in February 2021 and has gathered over 15,000 customers in just six months, with high demand for digital asset services in the country. India’s history with cryptocurrency has been healthy there are policymakers who seem to be on the point of cancelling crypto entirely but are slowly retracting from that decision. Nevertheless, foot traffic in cryptocurrency exchanges has increased rapidly. wazirX a Binance owned cryptocurrency exchange operating in India has stated over 2,600% user growth ever since its inception. A majority of those signups have been women from smaller cities. 

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