Cred, MobiKwik launch digital rupee wallets

Cred, backed by Tiger Global and Peak XV, and MobiKwik have launched central bank digital currency (CBDC) wallets, marking the entry of non-bank platforms into digital rupee transactions.

Initially, the Reserve Bank of India (RBI) had permitted only banks to offer access to the digital currency, but in April last year announced to include non-bank payment operators to expand the accessibility of CBDC.