A third of U.S. respondents expect bitcoin to drop below $20,000 by the end of 2024. This group is getting slightly smaller. It was 35% in February and 36% in January. Bitcoin hit a three-week high on Monday. It reached an all-time high of $73,803.25 in March, recovering from a dramatic plunge in 2022.
BharatPe restructured senior management, appointing Sandeep Indurkar as CEO of payment vertical for Resilient Payments Pvt Ltd. Rijish Raghavan now handles device business, and Kohinoor Biswas leads Zillion, achieving operational profit in October 2023.
Freo’s FY 2023-24 revenue hit Rs 350 crore. Profitable since Dec 2023, 5X revenue surge with 25M users by FY24. 40% Q4 FY24 contribution margin, diverse revenue streams, SIDBI investment, Anuj Kacker co-founder.
SWISS-SNB/Swiss National Bank’s Jordan against issuing of retail CBDC
While there has been a funding winter in fintechs and tech startups over the past year, funding has seen an uprise in early stage deal funding and decline in late stage deals funding. FinTech funding has witnessed a significant uptick in the amount raised in the month of March, compared to the previous month.
Startups witness a shift in investment trends. Domestic investors, family offices, and public market investors like ValueQuest and Singularity Ventures actively back ventures. Investment landscape changes as global funds retreat, and founders turn to investment banks for funding.
Freo joins the likes of Navi, Fibe and Kreditbee in profitability, reports positive cash flow over the last four months. They target various consumer segments with innovative financial services, ensuring sustainable business growth and asset quality.
Reserve Bank of India UPI: Now individuals don’t need to depend upon third party prepaid payment instrument (PPI) wallets in order to make UPI payments. “To provide more flexibility to PPI holders, it is now proposed to permit linking of PPIs through third-party UPI applications,” said RBI Governor Shaktikanta Das.
Ecommerce, gaming, utilities, and government services dominated India’s online transactions in H2 2023. UPI transactions surged, mobile wallets gained popularity, and in-store purchases increased. UPI continues to be the king of digital payments in India. The report highlights a remarkable 56% year-on-year growth in UPI transactions between July and December 2023.
Bitcoin reached a record high of $73,798 in mid-March atop a surge of inflows into dedicated US exchange-traded funds that debuted in January. The token has since retreated about 9% as ETF demand cooled. A gauge of smaller digital assets has slumped even more over the same period, shedding some 20%.
