Digital Financial News

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Walt Disney Company has said that it will acquire Comcast Corporation-owned NBC Universal's (NBCU) 33% stake in streaming platform Hulu for $8.61 billion at a valuation of $27.5 billion. Disney hopes to complete the transaction by December 1. Walt Disney said the acquisition of Comcast’s stake in Hulu at fair market value will further Disney’s streaming objectives.

Via was one of sixteen firms selected by the Hong Kong Monetary Authority in May to test potential use cases for a central bank digital currency.For its trial, Visa along with HSBC and Hang Seng Bank focused on simulating two use cases of interbank B2B payment flows — property payments and acquirer-merchant settlement - each tailored to the Hong Kong market. Visa says the pilot demonstrated the potential benefits of tokenised deposits for B2B payments in terms of payment speed, settlement risk control, network resilience, and transaction transparency.Nischint Sanghavi, head of digital currencies, Asia Pacific, Visa says: “Through the pilot programme, Visa has highlighted various potential benefits for the deployment of CBDCs, such as quicker settlements, a more seamless payment experience for high-value transactions, better transparency, as well as other benefits that come with an ‘always-on’ infrastructure.

DSP Mutual Fund has announced the launch of DSP Gold ETF Fund of Fund, an open-ended Fund of Fund scheme investing in DSP Gold Exchange Traded Fund. The scheme offers investors a convenient way to invest in gold like a normal mutual fund scheme, compared to the physical version, with the freedom to trade easily.

YES BANK has entered into a Memorandum of Understanding (MOU) with Accelerated Computing Enterprise Pvt. Ltd. (trading as “Cloud Ace India”), a leading provider of cloud solutions. The agreement signifies a pivotal step in YES BANK’s commitment at facilitating tech innovation and global digital transformation. It also emphasises the Bank’s endeavour of using advanced cloud tech and financial expertise to assist businesses, startups, and entrepreneurs. 

Housing.com has decided to make a strategic investment in EASILOAN, a fintech start-up focusing on digitizing the home loan journey. Although the specific investment sum remains undisclosed, this partnership aims to lay the foundation for Housing.com’s plans to create India’s largest digital home loan origination platform.

European fintech firm Revolut on Thursday said it appointed former Barclays executive Francesca Carlesi as its new U.K. CEO.

(Reuters) — Payments firm PayPal (NASDAQ:PYPL) Holdings said on Thursday it had received a subpoena from the Securities and Exchange Commission (SEC) tied to its U.S. dollar stablecoin.

Circle, a global financial technology firm, has taken steps to simplify blockchain interactions for developers and businesses with the beta launch of two new Web3 Services products: Gas Station and Smart Contract Platform. These new services come as a follow-up to Circle's recent Programmable Wallets offering. Gas Station aims to ease the cost burden associated with blockchain transactions for end users. Typically, Web3 users are required to pay a «gas fee» to conduct transactions on the blockchain. These fees have long been a point of friction for developers and businesses looking to integrate blockchain functionality into their apps.

Prior to December 7, 2021, the council indicated in its report to the European Council that it expects the European Commission to submit a legislative proposal in 2022 on further revision of the directive 2011/16 / EU on administrative cooperation in the field of taxation (DAC), concerning exchange of information on crypto-assets and tax rulings for wealthy individuals.

A concerted effort is underway to defend against the lawsuit filed by the United States Securities and Exchange Commission (SEC) against Binance. This lawsuit, rooted in allegations dating back to at least July 2017, claims that Binance, under the stewardship of CEO Changpeng Zhao, operated as unregistered exchanges, brokers, dealers, and clearing agencies, thereby generating substantial revenue primarily from transaction fees from U.S. customers​1​. In light of these allegations, the Chamber of Digital Commerce, headquartered in the United States, has mobilized alongside a myriad of other businesses, groups, legal experts, and politicians to challenge the SEC's lawsuit.

IMF Managing Director Kristalina Georgieva highlighted the role of digitalization in enhancing financial inclusion during a recent conference held in Marrakesh, Morocco. While advocating for comprehensive national strategies for financial inclusion, Georgieva also warned about the risks associated with digital financial services. This comes at a time when the IMF is actively involved in exploring cryptographic concepts and has recently presented a crypto-risk assessment matrix.

Ripple, a major player in the business blockchain and cryptocurrency solution markets, has made an important announcement about a successful court battle. Both of the company's top executives, Brad Garlinghouse and Chris Larsen, were cleared of all allegations brought against them by the SEC. Following a vote, the Commission decided to reject these claims «with prejudice,» bringing to an official close a protracted legal struggle that had been going on since December 22, 2020 when it first began.

In the contemporary data-driven world, the quantum of data processed and transmitted globally every day is staggering. However, the energy requisites for such processes are significant, propelling the necessity for energy-efficient gadgetry. Recently, researchers led by Dharmendra S. Modha have unfolded a chip architecture, dubbed NorthPole, inspired by neural functionalities, showcasing superior performance, energy efficiency, and area efficiency in comparison to extant architectures. This revelation was published in the Science Magazine on October 19, 2023, marking a significant stride towards more efficient computational hardware.

The Depository Trust and Clearing Corporation (DTCC) has solidified its position in the digital asset sphere by confirming its intention to acquire Securrency, a firm renowned for its expertise in digital asset infrastructure development. This acquisition aligns with DTCC's strategic vision of seamlessly integrating digital assets with its pre-existing products and services. The specifics of the deal remain confidential, but indications suggest a closure «in the coming weeks.»

Elon Musk. The founder of Tesla and SpaceX is expected to attend the entire summit before his discussion with Sunak, which is set to be live-streamed, to contemplate the advancements and dangers of AI technology. Sunak, in an interview with POLITICO, has defended his choice to involve Musk, given the latter's long-standing emphasis on the need for AI regulation.

₹) app named ‘Digital Rupee by ICICI Bank’. The Bank has made it possible by making its digital rupee app UPI (Unified Payments Interface) interoperable. This integration empowers customers to scan existing UPI QR codes at merchant outlets and pay via the digital rupee app.

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The Centre on Thursday will launch a month-long nationwide campaign aimed at raising awareness on the use of digital life certificates among central government pensioners, according to an official statement issued on Wednesday.

The Indian financial system has undergone a remarkable tech-backed revolution in the past decade in providing ease of accessibility to liquid capital to its citizens. The digital revolution has ushered in a new era of convenience and efficiency. One of the most significant advancements is digital lending, which allows individuals to apply for paperless loans with the promise of instant approval. This financial innovation has the potential to reshape the way we access credit, making it imperative to understand the ins and outs of this transformative process.

real estate platform, Housing.com, owned by REA India has invested undisclosed amount in Easiloan, a fintech start-up focusing on digitizing the home loan journey. Established in 2021 by Pramod Kathuria, Easiloan is a digital home loan marketplace offering personalized, end-to-end home loan solutions through collaborations with over 20 banks across India.