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Cryptocurrency exchange Coinbase Global Inc. reached a valuation of $105 billion in its trading debut Wednesday, as Bitcoin hit a record high and investors bet on digital currencies going mainstream. The company's shares climbed as high as $405. (BTC
Digital payments company Mobikwik has denied claims made by ethical hackers that vast amount of consumer data has been leaked onto the dark web due to a breach in its systems.
Have you recently made an online payment, borrowed from a lending app, checked your credit score, invested in mutual funds online, or claimed credit card rewards? If so, you too have consumed a service powered by an application programming interface, the coding pipes that help connect fintech platforms with legacy systems, such as banks, non-banking financial companies, card companies, credit information agencies, and asset management companies.
(Bloomberg) -- Elon Musk says in a series of tweets that Bitcoin paid to the company will be retained as the cryptocurrency and not converted into fiat currency. (BTC
Consumer technology, software as a service and fintech were the red hot sectors in India's startup ecosystem cornering almost three-fourths of venture capital funding.
Happy Sunday.TIL, or today I learnt for those who still believe in full sentences, is one of the few useful phrases in the urban dictionary. Particularly so if you are trying to stay up to speed with all that's going on in the crypto economy.
As banks and payment operators look to reach the smallest of merchants across India, mobile point-of-sale or soft PoS card transactions are emerging as a possible new option. Technologies ranging from QR codes to UPI-based payments and now mobile PoS are being used to bring mom and pop stores, the last remaining bastion of cash transactions, into the digital payments fold.
Cryptocurrencies are increasingly being seen as a store of value, Neha Narula said in a conversation with BloombergQuint. We have really seen a lot more use cases develop for what cryptocurrency can do and we've seen it embraced at almost the highest levels, said Narula, adding that data on the precise manner in which cryptocurrencies are being used is still thin. (BTC
Asian markets are mixed this morning with benchmarks in Japan advancing while those in Australia edging lower. South Korean markets are fluctuating.Oil prices rose, treasury yields crossed the 1.6% mark while Bitcoin trades lower after making a new all-time high of over $61,000 on Saturday. (BTC
A new piece of technology meant to scrub text messages caused severe problems for digital payments on Monday, with banks and financial technology firms reporting transaction failures due to delays in receiving one-time passwords.
(Bloomberg) -- Cryptocurrency enthusiasts exhibited a bit of nerves during Tuesday's Senate confirmation hearing for Gary Gensler, the nominee for chairman of the U.S. Securities and Exchange Commission. (BTC
The Reserve Bank of India sees a central bank-backed digital currency as a mixed blessing-such virtual tokens that can take away low-costs deposits from banks with implications on the economy, while increasing financial inclusion and transparency.
The Reserve Bank of India has asked scheduled commercial banks, payments banks, small finance banks, as well as card issuing non-bank lenders to adopt more stringent security measures for digital payments.
India plans a law to ban cryptocurrencies even as Bitcoin and other digital tokens are gaining acceptance elsewhere in the world. Here's what people have to say... (BTC
Venture capital firms that backed Indian businesses built around cryptocurrencies find themselves torn between a potential growth opportunity and regulatory uncertainty that could wipe out their investments. Investors faced this dilemma in 2018 and are now staring at it once again as the government re-considers a ban on virtual currencies. (BTC
Investors are considering self-custody wallets as one way to secure their crypto holding ahead of an impending ban.
From decisions on cryptocurrencies to decisions on privatisation and more. Which way to go?
India will go ahead with a complete ban on investment in cryptocurrencies, while providing existing investors a transition period to exit their holdings.
#IndiaWantsCrypto, a hashtag popularised in 2018 when the Reserve Bank of India effectively banned trade in tokens like Bitcoin, is back again. This time, it's fighting the specter of another ban which may be considered by the government as part of 'The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021' slated for the current session of parliament. (BTC
(Bloomberg) -- Tesla Inc. invested $1.5 billion in Bitcoin and signaled its intent to begin accepting the cryptocurrency as a form of payment, sending prices to a new record. (BTC
Delinquent accounts for fintech non-banking financial companies in India nearly doubled in the year up to August 2020 as riskier lending compared to banks hurt during the Covid-19 pandemic.
Bajaj Finance will launch Bajaj Pay for consumers in the fourth quarter of the current financial year, according to the company's investor presentation. This will offer payment solutions via UPI, pre-paid instruments, EMI Cards and credit cards.
Bitcoin retreated further from the $40,000 level on Monday, a decline that could portend more losses based on the latest analysis from strategists at JPMorgan Chase & Co. The cryptocurrency could be hurt by an exodus of trend-following investors unless it can break out above $40,000 soon, a team including Nikolaos Panigirtzoglou said. (BTC
Indian investors need to embrace frontline technology firms and also add bitcoin to their portfolios as they may miss out on an opportunity to create wealth by just sticking to the old economy bets, according to market veteran Ajay Srivastava. (BTC
As bitcoin prices zoomed to new highs, amid a continued regulatory vacuum in India, first-time investors and traders have flocked to exchanges. Alongside, reports of ponzi scheme have also reemerged, underscoring the importance for Indian authorities to finalise a framework for cryptocurrencies. (BTC
Bitcoin may have the potential for substantial further gains over the long term as it competes with gold for investment flows, according to JPMorgan Chase & Co. Bitcoin's market capitalization of around $575 billion would have to rise by 4. (BTC
Cred on Monday said it has raised $81 million (about Rs 591.2 crore) in funding, valuing the fintech firm at a post-money valuation of $806 million (about Rs 5,883 crore).
Asian markets are mixed on their first trading day in 2021. Benchmark indices in Australia gain while those in Japan are declining. Most global markets have resumed trading after a holiday on January 1. Bitcoin has held most of its weekend gains after crossing $34,000 for the first time on Sunday. (BTC
The Reserve Bank of India released its Digital Payments Index to measure the growth in cashless transactions in India. The index comprises five broad parameters with varying weights to measure the deepening and penetration of digital payments.
(Bloomberg) -- Bitcoin vaulted above $29,000 to reach yet another record level on the last day of 2020, showing no signs of slowing down its torrid December rally. The largest cryptocurrency climbed to as high as $29,292 before pulling back slightly to trade at $28,520 as of 9:12 a.m. (BTC
Bitcoin, the world's largest cryptocurrency, is on track to close out a banner year with another bang. The digital asset surged above $28,000 Wednesday to a record high, adding to its 47% rally so far in December, according to data compiled by Bloomberg. Bitcoin rose as much as 6. (BTC
Bitcoin is on track for its longest monthly winning streak in more than a year after touching a record above $28,000 over the weekend. (BTC
From its launch in 2004 to a move to becoming a 24x7x365 system, RTGS has come a long way.
(Bloomberg) -- Tech pioneer Bill Gates praised India's policies for financial innovation and inclusion, saying his philanthropic foundation is working with other countries to roll out open-source technologies modeled on India's effective implementation.
Bitcoin pulled back after approaching $20,000 on Tuesday amid skepticism over the cryptocurrency's intense rally. (BTC
The footprints of Indian-origin corporate executives at multinationals is expanding, with Sanjiv Kataria taking over the reins of footwear major Bata as its global chief executive officer. (BTA
Fintech major Paytm on Monday said its wholly-owned subsidiary Paytm Money will now facilitate investments in initial public offerings.
Indian equity markets continued their record-breaking run, extending their winning streak for the seventh straight day, ending at another record high.The S&P BSE Sensex ended 1.6% higher, above the mark of 43,000 for the first-time. The index closed at 43,277. The NSE Nifty 50 index ended above the mark of 12,600 - up 1.36% at 12,631. (BTA
Fintech News: Are 'buy now, pay later' (BNPL) products expanding access to credit or luring customers into a debt trap?
(Bloomberg) -- China warned Jack Ma and senior Ant Group Co. executives that the fintech giant will face new curbs on its expansion, highlighting growing regulatory risk for the world's largest initial public offering just days before its trading debut.
Havells India gained market share in certain segments in the July-September quarter, amid disruptions caused by the coronavirus pandemic, Chairman Anil Rai Gupta. (REP
RBI QR Code Rules: Interoperable QR codes, such as UPI and Bharat QR, help buyers and merchants, but RBI's latest move on making them compulsory can emerge as a deterrant to fintech firms.
Central Banks around the world have been working together to create a broad set of common principles for the issuance of central bank-backed digital currencies.
Global investment firm Brookfield's proposal to launch Real Estate Investment Trusts public issue for raising over Rs 4,000 crore augurs well for the future of India's office market and will boost investment as well as demand-supply in this segment, according to realty experts.
Fintech News: SBI plans to hive off YONO into a separate subsidiary and will share the underlying technology with other banks through a 'plug and play' model.
This week on Startup Street, a look at how the Covid-19 crisis has impacted fintech funding in the first half of 2020. The IIT Alumni Council says it is setting up six research centres for startups across the country. And a famous Indian cricket commentator backs a fantasy gaming startup. Here's what went on:
This week on Startup Street, we have a fintech startup serving the credit needs of India's GenZ and Millennials. Indian space technology startup Pixxel raised a round of seed funding. And Maruti Suzuki has joined hands with the startup hub and incubation centre at the Indian Institute of Management, Bangalore to spearhead innovations in the mobility space. Here's what went on.
The New Umbrella Entity, or NEU, for retail payments proposed by the RBI may dent but not break NPCI's dominance on digital payments.
(Bloomberg Businessweek) -- The negotiator entered the chatroom four days after the attack. Hackers had locked down several servers used by the epidemiology and biostatistics department at the University of California at San Francisco, and wanted a $3 million ransom to give them the keys. (BTC
Fintech News: A panel, led by Infosys co-founder Kris Gopalakrishnan, has suggested creation of an ecosystem to manage and store non-personal data in India.