Xius is operating worldwide. But i hope not that they are doing their own Thing:
Ok, just find out: Xius Wallet exists already since 2016. If crypto is forbidden in India, maýbe they use it in Mexico for example.
The main focus of the original announcement was gaining access to their Latin American market.
They operate in 8 Latin American countries with 1.2 million vendor agents who process a combined $1 billion worth of transactions monthly…according to their site.
Xius is headquartered in India, thus regulated by India.
It’s possible the workaround Richard mentions is something as simple as Xius creating a new division in another jurisdiction that is crypto friendly.
They aren’t going to just walk away from a potential $1 per month per ETN customer or all the potential new customers, new levels of customer retention ect ect.
Plus direct access to their Latin American Vendor/ Agent network is important to ETN both for the MM app and Remittance purposes.
I doubt that either party is going to let India’s Gov’t prevent them from doing a deal that is mutually beneficial.
India is in a stalemate position just now. The highest Court in India is deliberating a decision. And during this time some people put up Bitcoin ATM’s lol, how dumb can you be! They should have waited 2 more weeks to put them up. The Court has a deadline of 2 weeks to come up with a final decision about the bank’s closing the exchange accounts.
I don’t think it will be banned entirely, but that is just my personal opinion.