Platform Financial News

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Disclaimer: The text below is an advertorial article that is not part of Cryptonews.com editorial content

(Reuters) — Snap shares jumped 11% on Monday after a media report said the social media company is expected to have more than 475 million daily active users (DAUs) in 2024, above Wall Street expectations.

Meesho on Monday claimed to have recorded 120 crore customer visits during its recently concluded 10 days festive season sale "Meesho Mega Blockbuster Sale". This is the first time Meesho hosted a festive season sale with Meesho Mall — a digital store within the platforms for brands and claims to have recorded 3 times growth than business as usual these days.

How's the stock market performing so far this year?

Charles Schwab Corp. reported Monday that its net interest revenue sank 24% to $2.2 billion from the year prior as clients moved cash into higher-yielding products.

Gen Z and Millennials are used to the ‘on demand’ culture of today’s America, and they would rather not wait for retirement either.

The price of Shiba Inu (SHIB) has risen by 1.5% in the past 24 hours, with the meme token's jump to $0.00000712 marking a 4% increase from its seven-day low.

No KYC exchanges allow you to buy and sell cryptocurrencies anonymously. In many cases, you won't be required to open an account - let alone upload verification documents. 

Despite a volatile October - that has seen the rise of Telegram bots, leading GambleFi token Rollbit (RLB) is poised to explode following a +10% rally, leaving some side-lined investors asking 'is it too late to buy Rollbit'?

The XRP price has risen by 1.2% in the past 24 hours, climbing back to $0.494007 on a day when the wider cryptocurrency market has also recovered a little from last week's damage.

WhatsApp. Its main purpose is to safeguard users from potential threats, such as unauthorized access to their location and eavesdropping on their calls. WABetaInfo, a reliable source for tracking WhatsApp's upcoming enhancements, initially discovered this new feature.

₹86. WomenCart, founded in 2018, is an online retail platform that offers a diverse selection of beauty brands and wellness goods for men and women's skin care, hair care, and body care.

Worldwide, travellers are unhappy with the delay in Schengen visa processing times that is impacting their personal and professional travel plans. What’s the big reason for this delay?  In India, people are complaining that scheduling an appointment ‘takes forever’. How can this be expedited?  This is not a specific situation to India.

₹3 per order, which marks a 50 percent jump as compared to the existing platform fee of ₹2, a report in The Economic Times stated on October 16. The revised platform fee has been implemented from October 4 onwards, the newspaper said, adding that initially the increased rate was applicable for food orders in Hyderabad and Bengaluru, but was later expanded to all areas of operation across the country. The Bengaluru-based food delivery aggregator has been applying the platform fee on food orders from April this year.

The Ethereum price has risen by 1.5% in the past 24 hours, with its move to $1,579 coming as the cryptocurrency market as a whole recovers by nearly 2% today.

Dogecoin (DOGE) is fighting for life amid rock-bottom price action following a -3.5% drop last week - leaving some panicked bag-holders asking 'is Dogecoin going to zero'?

The Reserve Bank of Australia says creating real-world financial assets in a “tokenised” form could unlock billions of dollars in annual savings for banks and other financial institutions by streamlining settlement processes and automating registries.

Australia plans to protect people from cryptocurrency collapses by forcing the platforms to get a financial services licence, the government said Monday. Any crypto exchange or digital asset platform with more than Aus$5 million (US$3.2 million) in aggregate assets would have to comply, the Treasury said in a proposal paper. About one in four Australians own some cryptocurrency, it said. Cryptocurrencies such as Bitcoin rely on decentralised cryptography to secure transactions instead of the traditional banking system. «Collapses of digital asset platforms, both locally and globally, have seen Australians lose their assets or be forced to wait their turn amongst long lines of creditors,» the Treasury said. «These reforms seek to reduce the risk of these collapses happening, by lifting the standard of their operations and increasing their oversight.» The government invited feedback on its proposal by December 1, with further consultation due in 2024 on proposed legislation. If they are required to get a licence, digital asset platforms would be governed by Australian financial services law. The law includes minimum solvency and cash reserve requirements and the need to be efficient, honest and fair, keep records, and manage conflicts of interest. The platforms would also be subject to specific standards governing their holding and transacting in cryptocurrencies.

Paytm to Rs 1,250, signalling a potential upside of about 30% from current levels, global brokerage firm Goldman Sachs said it expects the fintech major to be the most profitable company within the internet sector. «Paytm’s operating metrics have been surprisingly positive, and we are further raising our FY24-26E EBITDA estimates by 2-5%, with our target price moving to Rs 1,250 (was Rs1,200),» Goldman said, adding that it has a forecast of 30% YoY revenue growth for Paytm in Q2. Paytm is seen turning net income positive in FY25, which could be a catalyst for the stock. «At 37x FY26 P/E, Paytm trades at a 20%/50% discount to Zomato/Nykaa, which we do not see as justified given Paytm’s growth profile (26% FY23-25E revenue CAGR),» Goldman said. Besides continued momentum in lending and payments, resolution of outstanding regulatory issues (customer onboarding ban on Paytm Payments Bank or online merchant onboarding ban), and/or inclusion of a bank as a lending partner could act as catalysts for Paytm. The stock has rallied over 76% so far in the calendar year 2023. «Investor pushbacks have been around negative impact on Paytm from a potentially adverse credit cycle, and while we expect Paytm to prioritize credit quality over growth, we expect FY25 financial services revenues to still grow 36% YoY (vs 61% in FY24),» Goldman analysts said. Global brokerage Bernstein recently added Paytm in its list of 12 bottom-up ideas for the rest of the year saying that the company appears to be on the right side of disruption with its dominant payments platform and a head start in digital credit products. «Its underwriting and collection outcomes are impressive too, but remain untested through a full credit cycle.

YouTube to initiate necessary legal measures against "fake news channels" and advised the platform to incorporate a disclaimer to address this issue effectively. In a notification, MeitY advised YouTube to put a disclaimer «news not verified» on "fake news channels". The IT Ministry has also asked major social media platforms with more than five million members to submit an action plan within 10 days, «on how they aim to combat fake news and unlawful content». Earlier this month, YouTube responded to the IT Ministry's notice to remove any kind of child sexual abuse material (CSAM) or face stringent action, saying they have a «zero-tolerance policy» on CSAM and related content. A YouTube spokesperson told that no form of content that endangers minors is acceptable to them. «We have heavily invested in the technology and teams to fight child sexual abuse and exploitation online and take swift to remove it as quickly as possible,» the spokesperson said. Encrypted messaging platform Telegram which was also asked to respond to the IT Ministry's notice, said it is «always committed» to upholding legal and ethical standards on its platform, particularly in this case of addressing issues related to Child Pornography (CP), CSAM, and Rape and Gang Rape (RGR) content on the Indian internet. In a statement, Telegram said that in response to reports of CP/CSAM/RGR content, it maintains a «zero-tolerance policy towards any unlawful activities conducted by users on our platform».