India, Jan. 28 -- Fintech major Mobikwik has become the first fintech to roll out a full-scale Central Bank Digital Currency (CBDC) wallet, e-rupee (eRs.), in collaboration with the Reserve Bank of India (RBI) and Yes Bank.

Earlier today, Cred founder Kunal Shah announced the launch of the beta version of its CRED eRs. wallet in collaboration with the Reserve Bank of India (RBI).

The eRs. wallet enables users to transfer funds to other eRs. wallets and regular bank accounts through UPI. It supports both peer-to-peer (P2P) and peer-to-merchant (P2M) transactions. For instance, users can easily scan and pay using eRs. on any UPI QR code, as it is fully compatible with UPI.

This comes after RBI last year in April proposed to extend the CB...