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Digital payments major PhonePe on Friday announced the appointment of Ritesh Pai as CEO of its International Payments business.

Hong Kong put out a proposal last week to license stablecoins. Singapore has already announced similar intentions. It’s very likely that before the end of 2024, the two financial centers will have come up with rules that US lawmakers have failed to adopt after three years of efforts. Read more:

A unique aspect around the digital currency is that it can be programmed for specific purposes. That opens up massive opportunities in direct benefit transfer, cash disbursals for specific purposes or something as simple as giving pocket money to children only to be used for canteen food or something specific.

“In the last 24 hours, Bitcoin rallied to $44,000 following reports on Thursday about the SEC’s final comments to issuers, hinting at possible approval for Bitcoin spot ETF applications. This recovery reversed Wednesday’s crash, restoring optimism among market participants,” said Edul Patel, CEO of Mudrex. Read on to know more:

The proceeds from the fresh issue, to the extent of Rs 250 crore will be used for funding growth in the financial services business, Rs 135 crore for funding growth in the payment services business, Rs 135 crore for investment in data, ML and AI and product and technology, Rs 70.28 crore for Capital expenditure …

Payment Platform MobiKwik refiles DRHP for Rs 700 crore IPO Read More »

Within the retail category, food and beverages accounted for 32.5% of the orders, followed by fashion (29.6%), with the remaining transactions spread across categories such as home and kitchen (12.6%), grocery (10.1%), beauty and personal care (8.5%), and electronics (5.7%). ONDC’s highest single-day orders so far have been about 217,000.

The RBI started its e-rupee pilot in December 2022 but transactions averaged only 25,000 a day by the end of October, even though its use case was significantly broadened by linking it to the popular United Payments Interface (UPI) which is a framework that facilitates peer-to-peer money transfer via mobile apps.

Calendar year 2023 has witnessed a steep decline in funding by Indian fintech startups, mainly led by decline in seed stage funding. The numbers of this year in terms of money being pumped into the sector matches that of the Pandemic year. However, on a global level India ranked 3rd in terms of Fintech startups …

Indian Fintech funding witnessed 63% decline in 2023: Report Read More »

The consolidation trend may manifest in various forms, including mergers or acquisitions of Non-Banking Financial Companies (NBFCs) by fintech firms, aiming to leverage established licences, capital, and networks.

This is Gurugram-based MobiKwik’s second attempt towards an initial public offering (IPO) after it abandoned its listing plans on account of weak market conditions.