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At the biggest US crypto exchange, Coinbase Global Inc, net consumer transaction revenue rose 60% in the fourth quarter from the year-ago period, and 80% over the third quarter, according to shareholder letter released Thursday. At Robinhood Markets Inc., which reported on Tuesday and is focused on retail users, crypto notional volumes in December jumped …
Small investors starting to tiptoe back into crypto Read More »
Decentralised crypto exchange FixedFloat has confirmed a hack that resulted in the theft of Bitcoin and Ether worth at least $26 million. The exchange team confirmed the attack shortly after it was originally reported on X. Initially, the team attributed the massive outflows to “minor technical problems” and put its systems on maintenance.
P. Vasudevan, an executive director at the Reserve Bank of India (RBI), stated that cryptocurrencies lack underlying value and therefore cannot be considered as currencies. The RBI has expressed concerns about cryptocurrencies like Bitcoin, citing potential systemic risks to financial systems. The government needs to decide on how to address cryptocurrencies.
The regulator also extended the deadline for customers to make deposits and credit transactions in the bank till March 15. In a detailed document, the RBI elaborated on what this move means for customers using Paytm Payments Bank for receiving salaries, paying EMIs and more. Read on to know more:
Paytm customers are worried about whether they can use the Paytm wallet or Paytm QR code after the deadline of the Reserve Bank of India (RBI) ends. A large number of customers and businesses rely on various services of Paytm for their day-to-day needs. What services will be allowed for Paytm customers after RBI deadline …
The position of the finance chief at Paytm Money had been vacant since April 2023, when Amit Kapoor left the firm after a nearly three-year stint. Mewada, who joined the company in the last week of January, was earlier the deputy CFO at ICICI Securities. Read on to know more:
Paytm Payments Bank removed from NHAI’s authorized banks for FASTag service. Over 20 million users need new RFID stickers from authorized banks listed by IHMCL to avoid inconvenience after Feb 29. The RBI has extended Paytm Payments Bank’s deadline to March 15, 2024, to cease transactions, considering the interests of customers and merchants.
The central banks of India and Nepal finalized the terms of reference to integrate their respective fast payment systems: India’s Unified Payments Interface (UPI) and Nepal’s National Payments Interface (NPI). This integration aims to streamline cross-border remittances between the two countries by allowing users of both systems to conduct instant, cost-effective fund transfers.
RBI banned deposits to Paytm Payments Bank. Account holders can keep money or transfer it to another bank. Customers can transfer money using UPI, IMPS, or RTGS. Money in Paytm Wallet can be transferred to a bank account with limits and fees. Existing customers can use funds until exhausted.
Calendar year 2023 was a difficult year for the fintech market globally, with both total fintech investment (USD 113.7 billion) and the number of fintech deals (4,547) experiencing their weakest results since 2017. However, a recent report by KPMG revealed that a majority of this funding share was of payment fintechs globally.
