Corporate Giants in India Look Forward to Have Internal Cryptocurrencies
In spite of people and the Government of India being somewhat skeptical about the use cryptocurrency, some of the multinational companies like Hindustan Unilever Ltd, Reliance Industries Ltd, HDFC Bank, and ABG Shipyard are looking forward to using digital currencies for their internal operations.
As reported by Economic Times, these companies have started such pilot projects for managing internal treasury and records keeping. One of the sources has stated that the companies and banks are planning to use their cryptocurrencies internally keeping in mind the regulatory issues.
The digital currency is intended to serve as a working capital management tool. However, the organizations involved in these pilot projects have not yet revealed any specific timeline for expanding their usage.