Tagged: india

Wirecard Announces New Partnership With India’s YES BANK

Germany-based Wirecard announced on Wednesday it has formed a new partnership with India’s banking group, YES BANK. According to Wirecard, the new collaboration will expand the scope of India’s Aadhaar Enabled Payment System, a biometric digital payment system developed by the National Payments Corporation of… Read More

India Digital Banking Startup NiYO Solutions Secures $35 million Through Series B Funding Round Led By Horizons Ventures & Tencent

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NiYO, an India-based digital banking startup, announced on Tuesday it secured $35 million through its Series B funding round, which was led by Horizons Ventures and Tencent with participation from existing investor, JS Capital. Founded in 2015, NiYO aims to create a technology-enabled and value-added… Read More

Citing Regulatory Duress, Another Indian Crypto Platform, Koinex, Shuts Down

Citing ongoing pressure from unfavourable government actions, Indian cryptocurrency trading platform Koinex has announced it will “permanently disable” trading services on June 27th, 2019. “A snapshot of the wallet balances at this time will be taken for record, and the effort to disburse INR balances… Read More

India Neobank Platform Open Raises $30 Million Through Series B Funding Round Led By Tiger Global

Open, an India-based neobank platform, announced on Tuesday it secured $30 million through its Series B funding round, which was led by Tiger Global with participation from Tanglin Venture Partners Advisors and existing investors 3one4 Capital, Speedinvest,  BetterCapital AngelList Syndicate. Founded in 2016, Open claims to… Read More

Report Says No Libra Crypto in India as Facebook Has Not Received Necessary Government Permission

A report indicates that Facebook may have to skip over India when it launches Libra, its cryptocurrency based off a basket of stable assets. According to the EconomicTimes, “a person directly in the know” said Facebook has failed to ask for, and receive, regulatory approval:… Read More

Indian Payments Platform MobiKwik Partners with DT One on International Expansion

MobiKwik has partnered with DT One (formerly TransferTo) to expand internationally. MobiKwik is an India-based Fintech in the payments space. DT One One is a global B2B network for “mobile top-ups/recharge, rewards and airtime credit services.” Indian users will now be able to add money… Read More

Proposed Law in India to Impose 10-Year Sentences for the Use, Trading or Production of Cryptocurrencies while Proposing Digital Rupee

Details emerging about a proposed bill to ban cryptocurrencies indicate that things have gone from bad to worse for the cryptocurrency sector in India. According to Bloomberg Quint, if passed, new proposed legislation to cover the crypto sector will impose 10-year sentences on individuals possessing,… Read More

Wirecard Partners With India’s UTI Infrastructure Technology and Services to Facilitate the Issuing of Physical & Digital Taxpayer Identification Cards

Germany-based global provider of digital payments and commerce solutions Wirecard announced on Wednesday it has formed a new partnership with India’s government-owned company UTI Infrastructure Technology and Services Limited (UTIITSL), to facilitate the issuing of physical and digital taxpayer identification cards, also known as PAN (Permanent… Read More

Details Emerge on Possible Features of Facebook’s Anticipated Cryptocurrency

Facebook (NASDAQ:FB) is stuffing its ranks with former PayPal staff, and an announcement regarding the company’s much-anticipated stab at creating a cryptocurrency may come as early as next quarter, though the company is still far from a viable product, unnamed sources tell Bloomberg. Facebook has… Read More

India-Based Cryptocurrency Platform Coinome Set to Shutdown

Coinome, an India-based cryptocurrency platform, is reportedly set to shut down on May 15th. The digital currency site revealed the news on Thursday through its Twitter account. Coinome describes itself as a cryptocurrency platform that was built to offer feature-rich user experience with no compromise… Read More

Bill to Ban Cryptocurrencies Circulating in India

Despite several reports that the government of India will not be addressing cryptocurrency legislation and relevant court cases until after the national elections wrap up in July, there is now news that a draft bill to ban cryptocurrencies is being circulated among Indian legislators, The… Read More

Wirecard Announces Expansion of Partnership With India’s RBL Bank to Drive Financial Inclusion

Germany-based global provider of digital payments and commerce solutions Wirecard announced on Tuesday it has expanded its partnership with India’s RBL Bank to drive financial inclusion. Wirecard reported that the partnership will make digital payment and banking transactions more readily accessible to all Indian citizens, including… Read More

Indian Crypto Trading Platform Unocoin Cuts Staff to 14 As Regulation Remains Uncertain

Ongoing regulatory uncertainty in India regarding the use and trading of cryptocurrencies has caused a number of related firms there to close or relocate. Most recently, reports Economic Times, Indian crypto trading platform Unocoin has made additional staff cuts, and it’s total workforce now sits… Read More

Peer to Peer Lending Platform Welendus Receives Investment from Unicorn Ascension Fund

Welendus (PTP Funding Limited), a peer to peer lending platform, has received an investment from the Unicorn Ascension Fund (UAF) for an undisclosed amount. The investment was said to be used for future expansion into India. Other early-stage investors in the company include Pontaq, a… Read More

Ailing Accused Bitcoin Ponzi Kingpin Granted Interim Bail in India

Amit Bhardwaj, accused of masterminding an elaborate Bitcoin-based $300 million Ponzi scam that spanned 90 countries, has been granted interim bail in India, Inc42 reports. Bhardwaj’s lawyer, Deepak Prakash told the outlet, “… Amit Bhardwaj has been granted interim bail based on…health ground(s).” The accused reportedly… Read More

Ruling on Reserve Bank of India’s Cryptocurrency Ban Delayed by Indian Elections

In a reportedly very brief session, the Supreme Court of India ruled in recent days to delay making a decision in cases challenging the Reserve Bank of India’s ban on cryptocurrency trading,  Asia Times reports. In February, the Supreme Court ordered the Indian government to draft… Read More

OurCrowd Portfolio Company Zebra to Collaborate with HealthNet Global

HealthNet Global (HNG), part of the Apollo Hospitals Group, India and Zebra Medical Vision, an AI Imaging software company, have announced a new collaboration that will focus on validating and deploying AI-based tools at scale across India. The Apollo Hospitals Group is Asia’s largest and… Read More

Standard Chartered Launches Digital SME Platform in India

Standard Chartered announced on Thursday it is set to launch an open platform for Small and Medium Enterprises (SMEs) in India to provide access to a range of financial and business solutions. Standard Chartered reported that this is one of the disruptive business ventures being… Read More

EY Exec: Blockchain “Most Boring Revolution Ever,” Public Cryptocurrencies Like Bitcoin Have Low Appeal for Mainstream Business

EY’s Global Innovation Leader says the deployment of distributed ledger tech will be important but relatively slow and unremarkable, Forbes India reports. As well, Paul R Brody says he does not see much practical use for public cryptocurrencies (“Bitcoin or nearly any other cryptocurrency”) in… Read More

Alleged “Who Wants to Be a Millionaire” Crypto Con Artist Arrested in Mumbai

A man who promised astronomical returns to investors in “KBC Coin” (a cryptocurrency named after India’s popular Kaun Banega Crorepati (KBC) TV game show) has been arrested by police in Mumbai, The Hindu and Hard Fork report. Pritam Patil was reportedly apprehended after Nanasaheb Patil, an agricultural… Read More

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