Platform Financial News

The financial services sector is set for substantial growth in the next few years as several factors converge.

Market making in digital tokens used to be a font of outsized profitability. The picture today is very different as costs jump and investors avoid a crypto sector scarred by a $2 trillion rout.

US Open 2023. Novak Djokovic vs Taylor Fritz men's singles quarter-final match will be played at Arthur Ashe Stadium after 12 pm (local time) on Tuesday, September 5. Djokovic, who has won three of his men's record 23 Grand Slam titles at Flushing Meadows, defeated qualifier Borna Gojo 6-2, 7-5, 6-4 to reach the US Open quarterfinals. Fritz eased past Swiss qualifier Dominic Stricker 7-6(2) 6-4 6-4 on Sunday to secure his place in the last eight in New York, where the 25-year-old is bidding to become the first American man to win a Grand Slam singles title in two decades.

Stellar Lumens (XLM) has been undertaking a dramatic +12% comeback as anticipation builds surrounding an upcoming announcement from the Stellar Development Foundation (SDF).

Australian crypto exchange Swyftx has launched a ‘Learn and Earn’ education platform with an aim to better equip Aussies with “crypto knowledge until such time as the industry is fully regulated.”

digital economy minister's document on Tuesday. "There's a lot of interest in many, many bodies, both multilateral, non-governmental, governmental, that are interested in making sure that continents and countries that have lagged behind the digitization have the ability to implement this in this form or in some other form," he added. Chandrasekhar said that there was a global consensus for the first time on the principles of DPIs, cybersecurity in digital economy and digital skills, within the G20 digital economy ministers' working group.

JM Financial. The brokerage has a ‘Buy’ rating on FSN E-Commerce Ventures, the parent company of Nykaa, and has set a target price of ₹210 per share. It believes the company remains a strong play on India’s secular beauty and personal care (BPC) growth.

The Short-Term Holder Spent Output Profit Ratio (STH-SOPR) for Bitcoin (BTC) has decreased from 1 to 0.9809, indicating less favorable conditions for short-term Bitcoin holders due to recent price declines.

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.

South Korean financial giant KEB Hana Bank has entered into a strategic business agreement with California-based crypto custody and security platform BitGo to offer digital asset custody (DAC) services to its clients starting next year.

Things are looking different at Sydney start-up Carted.

The State Bank of India (SBI) has become the seventh bank to implement UPI interoperability in its Digital Rupee (e ₹) also called Central Bank Digital Currency (CBDC). With this move, the bank aims to deliver unprecedented convenience and accessibility to its customers. “This cutting-edge feature, accessible through the 'eRupee by SBI' application will empower SBI CBDC users to effortlessly scan any merchant UPI QR code for swift and secure transactions," SBI said in a statement.

Meta sees India as a «priority market» with «limitless» possibilities buoyed by macroeconomic growth, digital infrastructure and the popularity of its apps like Facebook, WhatsApp and Instagram, the social media giant's India head Sandhya Devanathan said. In an interview with PTI, Devanathan, who took over the leadership role in January this year, said India's new Digital Personal Data Protection legislation has provided a framework and clarity for tech companies and marks a «great step in balancing user protection with innovation». Meta, she emphasised, «welcomes constructive regulations», and will wait to see the detailed rules.

Nifty Bank option contracts to Wednesdays from this week, derivative contracts of Nifty and Nifty Bank will no longer expire on the same trading day. Under the new rules, announced in July, Nifty Bank weekly index options will expire every Wednesday instead of Thursday from September 6. But for monthly and quarterly contracts of the widely-tracked banking index, there is no change and will continue to expire on the last Thursday of the expiry month. The split in expiry days of weekly and monthly contracts would mean that in September, the first three expiries would be on Wednesday and the last one (monthly) would be on Thursday. If Wednesday is a trading holiday, then the expiry day would be the previous trading session. The change in expiry may lead to change in strategy for some option traders, especially those who trade Nifty and Nifty Bank ratio strategies.

Two Portuguese citizens have lost over $312,000 to crypto scammers, with police claiming that more people are falling victim to crypto fraudsters.

Huawei commenced sales of its Mate 60 Pro smartphone. While the specifications highlighted its capability for satellite calls, details regarding the chipset's power were conspicuously absent, adds the report. This processor marks a significant milestone as it is the inaugural utilization of SMIC's cutting-edge 7nm technology.

Stake likely via a stolen private key. Stake confirmed the hacking on X (formerly Twitter), saying that unauthorised transactions were made from Stake's Ethereum (ETH)/Binance Smart Chain (BSC) hot wallets.

Paytm on Tuesday announced its business operating performance metrics for quarter to date (July-August period). The fintech giant continues to solidify its leadership of payment monetisation with 87 lakh devices deployed.

Paytm witnessed a 20% year-on-year (YoY) jump in its average monthly transacting users (MTU) which stood at 9.4 crore for the quarter to date (average for July and August 2023) period, the company informed in a filing to the exchanges on Tuesday. The company said that it witnessed a continued expansion in its customer base. It also reported a 137% YoY jump in its loan distribution business where the payment platform disbursed loans worth Rs 10,710 crore in July and August. The loan amount disbursed in August stood at Rs 5,517 crore.

Will Vicars’ hedge fund Caledonia has told its well-heeled investors they have a historic opportunity to hold and top up on shares in one of its most controversial investments, North American real estate platform Zillow, despite deep turmoil in the property market.

Elon Musk has blamed the Anti-Defamation League for a fall in US advertising revenue on the social media platform. In a series of posts on Monday, Musk said that ad sales are still down 60% “primarily due to pressure on advertisers" mounted by the Anti-Defamation League. Musk said that the ADL was trying to kill the social media platform since he acquired it in October last year, by “falsely accusing" it and him of being anti-Semitic.