RBI, in its statement, described OPEN's product as a blockchain-based cross-border system, leveraging the current infrastructure and ensuring frictionless and tamperproof monitoring capabilities
PhonePe was valued at $5.5 billion with its latest fundraise of $700 million and the e-commerce firm, Flipkart, continues to remain its biggest shareholder
The products will enable Indian fintech companies to offer the purchase of shares, exchange-traded funds units and other assets listed on foreign exchanges via UPI or net banking as a feature to Indian investors
The finance minister said that any legislation for regulation or for banning can be effective only after significant international collaboration on evaluation of the risks and benefits and evolution of common taxonomy and standards
The fund raised will be used to enhance tech and data-driven solutions for strengthening and revolutionizing the fresh produce supply chain which connects farmers and consumers
As per reports, in November 2021, a lot of Indian entrepreneurs shifted to Dubai and registered their businesses there, because of the high taxes and rigid rules for the cryptocurrency platforms
The company claims that it currently manages $18 billion across the Lightspeed platform, with investment professionals and advisors in the US, China, Europe, India, Israel and Southeast Asia
The fund raised will be utilized for completing the company's platform as a service transformation, strengthening sales and marketing, and building a delivery excellence framework
The fund raised will be utilized for scaling up by adding more asset classes, expansion of tech team, entering new markets, increasing investor base and so on
The introduction of fintech companies and their customer-centric offerings have entirely revolutionized India's banking and financial services ecosystem
With this acquisition, Clear's enterprise customers will have access to comprehensive compliance risk management software that eliminates many procedural non-compliance under the Companies Act, 2013
Fintech companies lending in markets where adequate credit history, banking records, and tax-filing records, etc., are not available, especially rely on such alternative lending scores for their underwriting