Indians Use Crypto-Backed Gift Cards from Abroad to Buy Groceries and Gold

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A new financial mechanism is allowing Indians to use cryptocurrency to purchase everyday goods such as groceries and gold. The process involves fintech and e-commerce platforms based in Sweden, Germany, and Singapore. Users transfer stablecoins from their private digital wallets to these overseas entities. In return, they receive gift cards or vouchers that function as proxy money for local transactions. The arrangement effectively enables crypto holdings to be converted into spendable value within India.

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