Tagged: india

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

Indian Supreme Court Orders Government to Regulate Crypto Sector Within Four Weeks

The Supreme Court of India yesterday ordered the Indian state to establish rules to govern the cryptocurrencies and sector there within four weeks, Inc42 reports. Justices Rohinton Fali Nariman and Vineet Saran also declined to hear from any more petitioners regarding an ongoing legal fight against… Read More

Temenos Acquires Big Data & Analytics Solutions Provider hTRUNK

hTrunk, an India-based company that provides big data and analytics solutions to the banking industry, announced this week it has been acquired by banking software firm Temenos. Founded in 2015, hTRUNK stated its product enables smarter data application development on Apache Hadoop leveraging Apache Spark as… Read More

India Opens New “Comprehensive” Cyber Safety Centre and Lab

Citing cybercrime as the “biggest threat to digital India,” Indian Union Home Minister Rajnath Singh inaugurated a new national cyber forensic lab and Delhi Police cybercrime unit, ‘CyPAD,’ on Monday, The Hindu reports. According to the outlet, Minister Singh described cybercrime as “a challenge to policing,”… Read More

Anirban Mukherjee Appointed as New PayU India CEO: Ready for Global Growth Opportunities

Naspers-owned PayU, an India-based online payments service provider, has appointed Anirban Mukherjee as its new Chief Executive Officer of PayU India. Mukherjee will report to PayU Global CEO Laurent Le Moal. As well as leading PayU’s Indian business, Mukherjee joins PayU’s global leadership team with… Read More

Another Crypto Scam Busted in India

Police in India have arrested four and are seeking a fifth suspect whom they believe used a cryptocurrency scam to steal 1 billion rupees (nearly $14 million) from investors in Mumbai, Surat, Gujarat, and Uttar Pradesh, Times of India reports. The men, Sanjay Sontakke, 44; Rajnikant Kumavat, 46; Alpesh… Read More

Indian Hospital Confirms Death of QuadrigaCX Crypto Exchange CEO, $190 Million Still Missing

The hospital in Jaipur, Rajasthan, where Canadian crypto exchange CEO Gerald Cotten spent his last hours has confirmed that he died there from a heart attack caused by complications from Crohn’s disease, Times of India reports. Cotten’s untimely death may also have devastating consequences for… Read More

What’s the Hold Up? Indian Government Reportedly Concerned Cryptocurrencies Could Destabilize the Rupee

Like elsewhere, Indian officials have been contemplating how to properly regulate cryptocurrencies for some time. Now a report from Quartz India says Indian regulators are currently “obsessed” with how cryptocurrencies might destabilize standard currencies, specifically the rupee. Inflation and counterfeiting have been issues in India,… Read More

India’s “First” Blockchain Protocol Eleven01 Kicks Off Testnet

India’s “first” native blockchain protocol, Eleven01, has launched their testnet. According to Eleven01, their platform is geared toward emerging markets looking to implement blockchain tech into mainstream industries including, retail, agriculture, banking, healthcare, finance, and more. Ausaf Ahmad, CEO of Eleven01, was formerly at Microsoft… Read More

BBVA-Backed Fintech Investment Fund Propel Venture Partners Invests in Investment App Groww

BBVA announced on Friday its backed fintech investment fund Propel Venture Partners took part in the $6.2m Series A funding round of Groww, an India-based investment mobile app. Founded in 2017, Grow uses technology and expert financial knowledge to help make mobile investing simple and rewarding for users. The app’s mission… Read More

Robocash Partners with Inditrade to Provide Micro-Loans in India

Following a Memorandum of Understanding (MOU) which was signed last year, Inditrade Capital and Robocash Group have launched a new short-term consumer lending service in India. Robocash Group says the start of microlending operations by its subsidiary JRG FinCorp. Ltd in India is operating the service… Read More

2018 Roundup: Indian Tech Startups Secured $11B, Fintech Deals Led Startup Investments

The Indian media platform Inc42 just released its Indian Tech Startup Funding Report 2018. According to the report, during 2018 Indian startups received $11 B total funding across 743 deals. While in 2017, 4 startups took away a little more than half the funding $6.9 Bn, in 2018… Read More

Indian Police Arrest Second in $72 Million Crypto Fraud Scheme, Leader Still Sought

Police in India say they have arrested the second-in-command of an elaborate crypto fraud that bilked investors out of 5 billion rupees (~$71.6 million USD), The Indian Express reports. The man, Rohit Kumar, has now been charged with cheating, criminal conspiracy and violation of the… Read More

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