Bitcoin startup Unocoin has released 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 through bitcoins. They will also allow give real-time or historical price information of bitcoins and get notifications when payments arrive. The company mentioned that its API is being used by Paycase, a Canadian remittance application which allows for money transfer from Canada to India. Paycase has tested transactions in nearly 20 countries to route payments over a variety of cryptocurrencies networks. "During a 6-month beta, Paycase successfully completed $50,000 worth of micro-transactions from Canada to the Philippines, with costs averaging 60-80% lower than traditional remittance players," Unocoin added. For India, Unocoin and Paycase have worked together to establish technical, regulatory and business logic needed to convert Canadian Dollar to Indian Rupee transfers. Unocoin’s recently released features includes a merchant point-of-sale (POS) app, a mobile trading app, an auto-selling feature for remittance users, systematic investment planning (SIP) to mitigate against volatility risk, integration with NETKI to simplify Bitcoin addresses, an over the counter (OTC) desk for large traders, and integration with Purse.io for discounts on Amazon. Note that the Reserve Bank of India is yet to make up its mind about the digital currency. The RBI issued a warning that it will not regulate any Virtual Currency including Bitcoin in India and warned people who were dealing with the currency in India of the risks involved, saying that they’re exposing…
