CRED’s E-Rupee Wallet & India’s CBDC Initiative

Economics

• CRED became the first fintech company to launch a beta version of its e-rupee wallet.
• Supports transactions using India’s Central Bank Digital Currency (CBDC).
• Initiative aligns with RBI’s plan to expand CBDC-Retail access via non-bank payment operators.

About CBDC (Central Bank Digital Currency)

• Digital form of legal tender issued by RBI.
• Holds the same value as physical cash.
• Not dependent on bank accounts, reducing financial barriers.
• Can be converted into physical cash and used for seamless transactions.