Indian merchant ‘The Rug Republic’ now accepts crypto via WazirX and Binance


TL;DR Breakdown

• The Rug Republic will accept 20 tokens for crypto transfers.
• The brand in India uses Binance and WazirX for cryptocurrency payments.

Joining the trend of global companies like Xbox and PayPal, the Indian decoration company The Rug Republic now accepts crypto transfers. This will be accepted for orders within the country limits in South Asia.

The Indian brand, with over 80 locations around the world, is accepting 20 cryptocurrencies, Bitcoin being chief among them. Users will buy rugs, handmade accessories, poufs, and other products available in the online store using cryptocurrencies.

Although Indian experts and software creators have long accepted crypto transfers, the acceptance by the brand is certainly a novelty. The Rug Republic had been impartial regarding cryptocurrencies and crackdowns in India.

Indian brands accept cryptocurrencies as payment

The user who wants to use the crypto transfers in the store must contact the provider on its website. The Rug Republic uses crypto platforms like Binance and WazirX for these transactions for now. However, shortly it will try to create a payment system for cryptocurrencies.

This crypto movement is promoted by the tokens rise, especially Bitcoin. India is the top country with crypto transfers; it has a record in users and a billion dollars traded in tokens.

The Rug Republic talks about crypto transfers

The Rug Republic CEO, Raghav Gupta, thinks that the Blockchain is an excellent piece of technology that will change the financial world. Gupta adds that the new technological era has begun, and it is poised to solve problems in the economy.

Raghav Gupta, who is a crypto entrepreneur, acquired his first Ethereum token in 2016. Like many investors, Gupta benefited from the Ethereum rise and other cryptocurrencies in April. The head of The Rug Republic also has shares in the Indian crypto company Polygon, which owns the MATIC token.

In Gupta’s opinion, the crypto acceptance goal in the store is not to exchange them for major currencies. But, like many crypto traders, he expects a historic spike in price. Gupta trusts in Bitcoin more than the US dollar or the Indian rupee.

Even though the cryptocurrency market is full of uncertainty, companies in India and other parts of the world do crypto investing. Recently, the El Salvador government accepted Bitcoins as legal tender. This makes it the first country in the world to legalize cryptocurrencies. The reason why they lead crypto adoption is because of the hope this market will transcend the fiat market.

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