The first app for trading Bitcoin virtual currency is now been launched with pin-secured mobile application Dubai-based Pluto Exchange today.
The company has claimed that it is the first ever app-based wallet that enables Bitcoin transactions using mobile numbers.
While at the launch of the app, the company said in a statement, “Pluto Exchange is going to change this scenario and do all transactions using mobile numbers only. By just using a 4 -digit pin, users can buy, sell, store and spend Bitcoin using the mobile number”.
It was reported that the app would allow the range of transactions, including payments, business-to-business commerce, remittances, asset management, supply chain finance, and trading.
Pluto Exchange founder and Chief Executive Officer Bharat Verma said in a statement, “Our company is bringing new initiatives that will increase the pros and decrease the cons of investing. This app will let everyone do easy transactions of Bitcoins from their mobile numbers only”.
Verma said at the launch that the RBI was also concerned about the use of cash for dealing in virtual currencies, whose values have turned volatile of late.
He said, “The RBI considers bitcoins as de-centralised trading that is completely unregulated..so their status is not clear”.
It was believed that in India there are at least 15 bitcoin exchange forums over the past two years.