India, Jan. 28 -- CRED founder Kunal Shah has announced the launch of the beta version of its CRED eRs. wallet in collaboration with the Reserve Bank of India (RBI).

This marks the introduction of India's Central Bank Digital Currency (CBDC) into the fintech space.

Taking to a post on X, Shah said, "CRED eRs. wallet beta is live. Not just another fintech play; CBDC is a fundamental shift in how India moves money: instant, programmable, RBI backed."

This comes after RBI last year in April proposed to extend the CBDC accessibility to a broader user base. The move then opened the doors for non-bank payment operators to make CBDC transactions which were only limited to the banks earlier.

As per RBI data, only 15 banks are offering CBDC wa...