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Writer's picturemeowdini
Aug 12 min read

Bybit Integrates Indian Digital Rupee for Enhanced Security and Merchant Attraction

Bybit launches digital rupee (CBDC) payments, enhancing security and expanding payment options for Indian users, hoping to attract more merchants to the platform.

Cryptocurrency exchange Bybit has introduced the Indian central bank digital currency (CBDC), known as the digital rupee, to its platform. This move aims to boost security and broaden payment options for users in India, potentially attracting more merchants to the exchange.


Indian digital rupee symbol with Bybit logo, representing new payment options on the cryptocurrency exchange.
Bybit's new digital rupee payment option aims to enhance security and attract more merchants to its platform.

Key Points:


Introduction of e-Rupee Payments:


  • Bybit has integrated the digital rupee as a wallet-based payment solution, alongside existing payment methods like bank transfers, Paytm, and India’s Unified Payments Interface (UPI).


Enhanced Security Features:


  • The digital rupee aims to enhance security by reducing the risk of cybercriminal attacks on bank accounts, providing a safer transaction environment for users.


Expansion of Payment Options:


  • The integration of the e-rupee adds to Bybit’s suite of payment options, potentially making the platform more attractive to a broader range of merchants and users.


Pilot Project Status:


  • The digital rupee is currently in a pilot phase for peer-to-peer crypto transactions on Bybit. The retail e-rupee, launched in December 2022, and the wholesale version launched earlier, are part of ongoing trials.


Future Enhancements:


  • The Reserve Bank of India (RBI) plans to enhance the digital rupee’s functionality, including offline capabilities to boost its usage in regions with limited internet access. Programmability features have also been added, with notable applications like carbon credit reimbursements for farmers.


Challenges and Criticisms:


  • Despite its potential, the digital rupee has faced challenges, with limited adoption and criticisms over its complexity. The RBI is working on improvements to make the digital rupee more user-friendly.



Bybit’s integration of the digital rupee marks a significant step in enhancing the payment experience for Indian users, aiming to bolster security and expand merchant engagement on the platform. The digital rupee could see increased adoption and usability with ongoing developments and enhancements.


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