New Delhi: Unocoin, an Indian bitcoin company, on Monday announced the release of an application programming interface (API) which will allow individuals and companies to generate bitcoin wallets and buy, sell, send and receive bitcoins and allow merchants to accept and request payments securely through bitcoins.

“We’ve been excited to develop a robust API for use by companies around the world. Our API is best described as an on-ramp for firms looking for a simple way to gain entry into one of the world’s fastest growing and largest potential markets. Our team has been working non-stop prior to and during our pre-series A round to provide the most reliable, full-featured API, but one that, most importantly, is incredibly easy to adopt," said Sathvik Vishwanath, co-founder and CEO of Unocoin.

The API will also give real-time or historical price information of bitcoins, get notifications when payments arrive and also allow companies around the world to remit bitcoins to India and to submit KYC (know your customer) details of beneficiaries.

The company’s full-featured iOS app and soon-to-be-released Android app are both built entirely off the Unocoin API.

“Our API is the engine powering our mobile apps, through which customers will be able to store and spend bitcoin on the go, and also be able to buy bitcoin with just a click of a button," Vishwanath added.

Blockstream, a leading provider of blockchain technologies, has also partnered with Unocoin to enable fast and low-cost cross border transactions.

The company announced that Paycase, a Canadian mobile remittance application, is also using its API along with Blockstream’s network to carry out seamless money transfers from Canada to India.

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