Adding crypto to IndiaStack, a set of national APIs for payments and identity, could allow India to build an OSS stack for domestic and foreign transactions. ( Balaji S. Srinivasan)

IndiaStack can help small businesses accept payment in various forms by offering a set of APIs for different financial institutions. With the launch of IndiaStack, the country’s largest digital wallet can add cryptocurrency support, which is one of the top business requests. IndiaStack aims to integrate blockchain technology into financial services. The government hopes the project will make it easier for companies to access funds. The platform will allow Indian consumers to pay using local fiat currencies, mobile payments, international credit cards and cryptocurrencies.

What is an IndiaStack?

IndiaStack is a project run by the National Payments Corporation of India (NPCI), a countrywide payments network. NPCI, a subsidiary of NPCI Bank Limited, aims to develop a common set of APIs that all banks, payment processors and merchants can use to process cross-border and domestic payments. One such API is called OLA, which stands for Open API Layer. A key aim of OLA is to allow the development of tools that would enable developers to use IndiaStack APIs to build services, which could be integrated into any device. OLA is also open-source, meaning that anyone can contribute to its development.

How IndiaStack Works? 

IndiaStack is a product from IndiaStack that creates a secure virtual private network (VPN) that allows people to connect over the internet without worrying about getting hacked or their data being intercepted. It does this by using a company’s data centre’s internet protocol (IP) address to mask a user’s IP address. Once users log into the secure connection, they can browse websites as if using the internet normally. They can access bank accounts, social media platforms, and other internet-connected devices.

What is the Current State of Cryptocurrency in India? 

With many cryptocurrency enthusiasts talking about India’s booming crypto scene, it’s easy to assume that this nation is a hotbed for bitcoin and altcoin adoption. That’s not entirely true. There are currently only eight active exchanges trading cryptocurrencies in the country, and they only support up to two types of coins. Bitcoin is currently the only digital currency accepted at all stores, restaurants, and taxis in India. However, there is some hope that the cryptocurrency industry will change shortly, especially after the government of India released a draft report in March that called for regulation and a tax of 15% on cryptocurrency transactions.

Why IndiaStack Needs to Be Built? 

IndiaStack is building a single digital platform that enables Indian companies to collaborate, sell their products and services, and access business-to-business (B2B) buyers while meeting the needs of the millions of consumers across the country who don’t even have access to smartphones. With the help of more than 1,000 partners in India, it’s creating an ecosystem that connects companies across India’s various sectors, including agriculture, automobiles, banking, healthcare, manufacturing, media, and real estate. IndiaStack, founded by Rahul Sharma, CEO and cofounder, is based in San Francisco.


IndiaStack is an open-source set of APIs based on OpenID Connect that will enable a new generation of commerce solutions to support digital payments, digital identities, and smart contracts, all with a secure backend. These open-source APIs will make it easier for Indian businesses to leverage the latest technologies, such as IoT, blockchain, and artificial intelligence. IndiaStack will provide a set of APIs that make it easier for developers to access all the tools, technologies, and content they need to build products that address the needs of local markets.


1. Is IndiaStack based on blockchain technology? 

IndiaStack is a distributed ledger technology (DLT) platform that uses blockchains to record transactions.

2. Why do we need this? 

India is the world’s second-largest economy, but it has one of the lowest levels of internet penetration. By providing a secure, open-source framework for financial services, India can reduce its dependence on foreign providers, improve efficiency, and lower costs. 

3. What are the benefits of using IndiaStack over the existing systems? 

Using IndiaStack allows us to build a better stack for the country. It will enable us to make a much better experience for our users.

4. What is the target market for IndiaStack? 

IndiaStack is a national API. We target India’s banks, mobile wallet providers, and e-commerce platforms.

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