Digital Financial News

Last week, digital asset investment products witnessed a significant surge in inflows, totaling an impressive $1.18 billion, albeit subject to a T+2 settlement.

As Africa‘s Web3 landscape gains momentum, it faces significant regulatory hurdles that threaten to stifle its transformative potential.

The body would work towards strengthening governance standards and addressing the sector's needs and challenges, the central bank said.

The United States Federal Reserve’s potential interest rate cut could reignite major institutional interest in decentralized finance (DeFi) and stablecoins, according to asset manager Fidelity.

Few presales have recently captured investor attention quite like Retik Finance (RETIK). This ambitious DeFi project, promising a seamless fusion of traditional and digital finance, has witnessed a remarkable surge in demand, with its presale stages selling out at breakneck speed. But what exactly is fueling this digital gold rush? Why are investors scrambling to get their hands on RETIK before the curtain falls on Stage 5? Let’s delve into the heart of the matter, dissecting the anatomy of this presale phenomenon.

personal loan for salaried employees is a type of loan designed exclusively for those who are employed and receive a monthly salary. This loan is available to you regardless of your sector of work. Employees from both private and public companies are eligible to apply for personal loans for salaried individuals.

Somasundaram PR, the regional CEO for India at the World Gold Council. «India will have to prepare for a rise in demand.

In a noteworthy move within the cryptocurrency landscape, Ripple’s XRP has made a triumphant return to the Grayscale Digital Large Cap Fund (GDLC) after a hiatus of three years. This development highlights the evolving dynamics of the crypto market, where established players like XRP find their way back into the investment portfolios.

Wipro were better than estimates. Expectations were low as Q3 is a seasonally weak quarter due to furloughs coupled with the ongoing demand uncertainty. Notably, management commentary is still cautious with large-caps not seeing a visible pick-up in discretionary IT demand just yet.

A Russian economist has claimed Moscow will eventually force the elderly to accept CBDC pension payments as part of the digital ruble rollout.

Aadhaar or Unique Identification Authority of India (UIDAI) is a 12-digit unique identity number obtained voluntarily by all residents of India, based on their biometrics to enable a more streamlined and transparent method of allocating certain government benefits and subsidies to citizens. It can be used as proof of identity and address, whereas APAAR is a lifelong ID for students to track their educational journey and achievements, from pre-primary to higher education. It will not replace the Aadhaar but complement it for educational tracking purposes.

India globally and the country stands at a crucial juncture, ready to catapult into a $35-trillion economy in the next 24 years, marking an era of unprecedented growth, commerce and industry minister Piyush Goyal said. «We are at the cusp of our nation's history that will catapult India into a high-growth economy,» Goyal said at the ET NOW Leaders of Tomorrow Awards on Friday. Emphasising India's stature as a large and trusted economy, Goyal commended the global interest in investing, citing a meeting with a US investment house planning to double their $13-billion investment.

The crypto landscape has changed dramatically over the past few years, with stablecoin volumes challenging traditional payment giants like PayPal and Visa.

Shaktikanta Das, Reserve Bank of India (RBI) governor, deviated from his prepared speech while delivering the keynote address at Mint’s recent BFSI Summit and provided a couple of interesting asides. The governor’s office, he said, had been encouraging one-on-one discussions with bank chief executives and a spirit of free exchange had allowed RBI to pick up industry trends that would have otherwise reached the central bank much later. Consequently, the central bank’s regulatory actions were occasionally based on such inputs.

Rapido posted a 54% wider loss of Rs 675 crore in the financial year ended March 31, 2023, even as operating revenue tripled to Rs 443 crore. In FY22, the firm had incurred a loss of Rs 439 crore on operating revenue of Rs 145 crore, according to regulatory filings made by the company. Expenses almost doubled to Rs 1,172 crore in FY23, compared with the Rs 597 crore the previous year.

Terrence McDermott barely has a finger to spare. Each day, the 26-year-old cigar shop assistant manager in Phoenix plops silver rings onto nine of his 10 fingers. His clinky assortment includes a turquoise signet, a ring inspired by late rapper MF Doom and a pinkie ring that he tried on and couldn’t pry off, so he bought it.

By Estelle Shirbon

GameStop has decided to shut down its NFT marketplace, signaling its withdrawal from the cryptocurrency space.

Anthropic has found. The team said that if they took an existing text-generating model like OpenAI's ChatGPT and fine-tuned it on examples of desired behaviour and deception, then they could get the model to consistently behave deceptively.

Apurva Prasad, VP-Institutional Equity Research, HDFC Securities, says “what is important is some line of path in terms of the operational performance. Most of the companies, including the larger ones, have real prospects of margin improvement. Many of them have held onto margins despite losing the revenue, companies that have lost 10%, 12%, a quarterly run rate basis, they managed to hold on for different set of reasons. But the fact is with some growth that is expected to normalize, prospects on margins continue to look fairly good.” You belong to the bull case but I want to understand that in the last two months, from the peak of pessimism, the IT pack in various proportions, depending on which stock we are talking about, has moved up. How much of the positivity in your view or improved outlook is in the price and do you see more discounting going forward? Apurva Prasad: I think a lot of it is in the price, especially the last few months with the multiples, the rate at which it has gone up, means PE multiples are up almost 20-25%.

crypto wallets such as Binance was cut off for Indian users, their apps were also taken down from Google Play Store. Though there was no official communication from the government, electronics and information technology ministry officials said the move to direct Google to take down these apps followed the finance ministry’s inputs that these platforms are being allegedly used for money laundering.