Digital Financial News

Among the concerns often raised in connection with the proliferation of digital public infrastructure (DPI) is the worry that nations that are reliant on digital systems for the delivery of public services will end up excluding those incapable of accessing these digital solutions from the benefits these systems were built to offer. As digitization efforts accelerate across the globe, the schism between those who can access these systems and those who cannot is only going to get more acute. Most people associate digital capacity with connectivity.

In a first-ever announcement in the stablecoin ecosystem, Circle, makers of USDC, has released a bridging standard for its digital token.

Binance, the world's largest cryptocurrency exchange, will pay one of the largest corporate penalties in U.S. history as a coalition of federal regulators accused the company of violating laws in pursuit of growing market share.

This Week In Wrexham" podcast is set to premiere in the Spring of 2024, the Men in Blazers Media Network made the announcement. According to Men in Blazers Media Network, the season-long podcast series is set to be sponsored by STōK Cold Brew Coffee which is also the official stadium sponsor of Wrexham AFC.

The BIS Innovation Hub and the Cyber Resilience Coordination Centre (CRCC) hosted a conference on November 8, 2023, focused on «Securing the future monetary system: cyber security for central bank digital currencies». General Manager Agustín Carstens opened the event with a clear message: the advent of CBDCs is inevitable, and their security is paramount to the future financial system.

Kazakhstan's Ministry of Culture and Information has clarified its decision to block the global cryptocurrency exchange, Coinbase, within the nation's borders. The ministry asserts that the trading of cryptocurrencies on Coinbase is in direct violation of the Kazakhstani law on Digital Assets. This clarification was provided in response to an inquiry from «Kursiv,» following a request from the Ministry of Digital Development, Innovations, and Aerospace Industry. The request was made to block access to Coinbase, which contravened section 5 of Article 11 of the country’s Digital Assets Law.

Singapore-based Bitdeer Technologies Group (NASDAQ: BTDR), a global frontrunner in the cryptocurrency mining industry, has released its unaudited operational metrics for October 2023, showcasing sustained robust performance and strategic advancements. Throughout the month of October, both the hash rate and the electrical capacity remained stable, which was praised by the CEO Linghui Kong. He brought out the fact that the Gedu Datacenter in Bhutan had contributed 3.3EH/s to the overall hash rate as well as 211 Bitcoins, which accounted for more than half of the entire Bitcoin production for the month. The ongoing construction of the Tydal Datacenter in Norway, which is anticipated to be completed in the year 2025, serves as an instance of the company's devotion to the advancement of technology as well as the rise in shareholder value.

Ripple, a frontrunner in blockchain and cryptocurrency solutions, has joined forces with Onafriq, a leading payments fintech, to revolutionize digital asset-enabled cross-border payments connecting Africa with the Gulf Cooperation Council (GCC), the UK, and Australia.

On Tuesday morning, the U.S. Department of Justice announced the seizure of nearly $9 million worth of Tether linked to  “pig butchering” scams that exploited over 70 victims.

It’s being touted as crypto’s big breakthrough on Wall Street: The imminent arrival of bitcoin exchange-traded funds that will kick open digital-currency investing to the institutional and retail masses.

Ahead of the India-Nordic Baltic Conclave in New Delhi, Prime Minister Aksel Johannesen of the Faroe Islands engaged in constructive discussions with External Affairs Minister S Jaishankar. The Faroe Islands, functioning as an autonomous territory of Denmark, aligns itself strategically with the Nordic countries. Accompanied by a substantial business delegation, the visiting leader during talks with Jaishankar explored potential collaboration in diverse sectors, including fisheries, information technology, and healthcare. The dialogue between the two leaders extended to encompass discussions on Arctic Policies, underscoring the increasing importance of environmental considerations in their deliberations.

Bank of India (RBI) has increased the cost of funds for banks and non-bank financial companies (NBFCs), by increasing the risk weight of such loans. Currently at 100% risk weight, loans to consumers will see an increase to 125%, excluding loans for housing, education, vehicles and against gold. Banks create money, so RBI regulates their growth by a Capital Adequacy Ratio (CAR)—a function of how much the bank can lose of its own money, as a percentage of its loan exposure.

In a move to enhance cross-border payments, Cambodia’s Bakong digital currency system, a component of the National Bank of Cambodia (NBC), has entered into a memorandum of understanding (MoU) with Chinese payment provider Alipay, Cambodia’s Phnom Penh Post recently reported.

₹5.15 crore on its opening day and went on to earn ₹118.7 crore at the box office. The second part, released in 2017, opened at ₹41 crore and clocked ₹510. 99 crore in lifetime earnings.

Programmable payments allows users to branch out beyond the limitations and rules applied to their transactions, accessible through a new portal on JP Morgan Payment’s online treasury portal, JPM ACCESS.

Founded by former Revolut VP for growth and Spotify executive Hannes Graah, Zeal claims to be a digital wallet "built to handle your whole financial life" and solve the user experience shortcomings of current offerings while blending on-chain with real-world finance.It will address current security problems with advanced safety checks and previews for web3 transactions that keep people safe from scams and hacks. It’s also bringing to market bank transfers that let users transfer USDC from Polygon to their bank account, for free.Says Graah: "The status quo for wallets is not good enough.

By Juveria Tabassum and Juby Babu

Enforcement Directorate, late Tuesday, confirmed it has issued show cause notices to Byju’s parent Think & Learn and its founder and chief executive Byju Raveendran for violations involving an amount of Rs 9,362.35 crore under the Foreign Exchange Management Act (FEMA). Byju’s did not immediately respond to ET’s request for comment on the matter.

circular economy design solutions and technologies specific to the needs of two countries to help them transition to a circular economy. The new accelerator program, called Rapid Innovation and Startup Expansion (RISE), will be delivered virtually and free of cost, with a number of opportunities to travel between Australia and India, NITI Aayog said in a statement on Tuesday.

Tata Technologies on Tuesday raised about Rs 791 crore in the anchor round ahead of the issue opening on Wednesday. The IPO, which closes on November 24, is the first from Tata Group since the debut of TCS. The Board in consultation with book-running lead managers JM Financial, Citigroup Global Markets and BofA Securities finalised the allocation of 1.58 crore shares to anchor investors at Rs 500 apiece. Some of the marquee funds which participated in the anchor round include Fidelity, HSBC, Goldman Sachs, JM Financial MF, Kotak MF, Axis MF, Motilal Oswal, Edelweiss MF, Mirae Asset among others. The IPO was priced in the range of Rs 475-500, where investors can bid for a minimum of 30 shares in one lot. At the upper price band, the issue size is about Rs 3,042 crore. The public offer is entirely an offer for sale (OFS) of 6.08 crore shares, under which, Tata Motors, Alpha TC Holdings and Tata Capital Growth Fund will participate. The weighted average of the cost of acquisition for Tata Motors is Rs 7.40 per share and Rs 25.10 for investors Alpha TC Holdings and Tata Capital Growth Fund I. About 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

Dallas, United States & Bengaluru, Karnataka, India – Business Wire India Capillary Technologies, a Bengaluru headquartered customer loyalty technology company has been a dominant player in the Asia market for more than a decade. It expanded globally in 2021 and today, the company announced a 4X growth in the last 3 years in the US market.