Thank you @Pinotio.com, I agree we need to have a strategy and all the other pieces listed by @nimittank in place to make it a successful launch. I had highlighted some concerns in the original post of cINR and I would like to make sure we have a plan in place to tackle them.
Since the tax regulations have come into effect this month, volumes have dropped about 80% in most of the exchanges and it is a concerning situation in India. Coinbase recently launched their services in the India and quickly ran into problems when on/off ramps through UPI (India’s digital payments system) were suspended. More on that here.
I think Celo needs to closely engage with authorities in order to have the intended impact. It would make on/off ramps much easier if Valora can be integrated to work with UPI. I see some immediate arbitrage opportunities Celo can tap into with cUSD trading at about 2-3 INR less than USDT on Valora as compared to other exchanges. There is a way to work around this UPI problem via P2P mechanism like on WazirX or Binance, which I’m guessing would use a bit of resources.
It would help if we have an ecosystem lead for India (and other cStables) to facilitate and brainstorm the strategy. I am happy to assist with these initiatives and to reach out to people who could help us penetrate the market. As @nimittank rightly pointed out, we would need marketing initiatives to make it all happen.