Crypto goes abroad, returns as gift cards for Indians to buy groceries & gold

The world of cryptocurrencies is a strange one. And the way some Indians are ‘round tripping’ cryptos is another interesting facet of it.Someone ‘earning’ crypto through either legitimate or illegal activities can also use it via international organisations, without the transaction necessarily passing through local high-street banks or coming to the notice of the tax authorities.For those familiar with cross-border money transfers, this is hardly a secret.What remains less understood by regulators, government agencies and people outside the payments industry is how Indians can use crypto to pay for a wide range of everyday purchases, from groceries and fuel to mobile recharges, food delivery and even gold within the country.Let’s take a look:How the crypto re-routing worksThe mechanism involves leading fintech and e-commerce platforms incorporated in Sweden, Germany and Singapore, according to an ET report.