Cred gets RBI approval to launch CBDC, unveils E-Rupee wallet in partnership with Yes Bank

Cred, the fintech platform has become the first non-bank entity to successfully roll out the e-Rupee wallet. This move is part of the Reserve Bank of India’s (RBI) Central Bank Digital Currency (CBDC) initiative, which aims to revolutionise digital transactions in India.

The Cred e-Rupee wallet, launched in partnership with Yes Bank, allows users to send and receive funds using a UPI-linked interface. This beta version is currently available to a select group of members who have completed the video Know Your Customer (KYC) process.