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Global Bank Messaging Network SWIFT to Trial Live Digital Currency Transactions in 2025
SWIFT will trial live transactions of tokenised assets and digital currencies next year. Banks and asset managers hope that by using digital units - usually blockchain-based tokens that represent a share of the underlying asset - trading can be quicker, cheaper and more efficient, including by cutting out middlemen involved in many transactions.
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Paytm Payments Bank Board Is Independent, Paytm CEO Vijay Shekhar Sharma Says
The board of India's Paytm Payments Bank is independent and capable of addressing regulatory concerns, the chief executive officer of digital payments firm Paytm, formally known as One97 Communications Ltd, (OCL) said on Monday.
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PhonePe Announces UPI Services in UAE for Travelling Indian Users: Know All Details
PhonePe launched its Unified Payments Interface (UPI) services in the United Arab Emirates (UAE) for Indian travellers as well as NRIs residing in the country on March 28. This service will now allow PhonePe users to make rapid digital transactions by scanning a QR code at retail stores, dining outlets, and other tourist attractions. The service is...
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Paytm Gets Third-Party UPI App License From NPCI as Payments Bank Ceases Operations
Indian digital payments firm Paytm, formally known as One 97 Communications, was on Thursday granted a third-party application provider license by the country's payments authority, which will enable it to facilitate payments after its banking unit ceases operations.
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Paytm Payments Bank Said to Cut About 20 Percent of Staff as Business Halt Looms
Indian digital payments firm Paytm plans to cut close to 20 percent of staff at its banking unit amid uncertainty over the unit's future due to a looming central bank deadline for it to halt most operations, two sources said.
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Mastercard to Explore Tokenised Bank Deposit Services as It Gears to Dig Deeper into Crypto
Mastercard is gearing up to launch its ‘Multi-Token Network (MTN)’ in its beta version in the UK in the coming months. With the MTN, Mastercard is exploring if the unit of money in an individual’s bank account could be transformed into a digital saving on the blockchain. This could open more use cases of digital money, the company believes.
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India, UK Discuss Crypto Assets; Focus on Robust Approach to Handling Risks and Vulnerabilities
India and the UK discussed international developments regarding crypto assets at the India-UK 2nd Financial Markets Dialogue t the India-UK 2nd Financial Markets Dialogue on Wednesday. Both countries' participants at the dialogue provided updates on recent developments in their respective banking sectors. They also discussed banking trends and emer...
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PM Modi Dedicates 75 Digital Banking Units Across 75 Districts
With an aim to promote financial inclusion, Prime Minister Narendra Modi on Sunday dedicated 75 Digital Banking Units (DBUs) to the nation.
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Chinese Municipal Bank Issues First E-CNY Loan to Manufacturing Unit as Part of Digital Yuan Expansion
The Agricultural Commerce Bank of Zhangjiagang issued the first e-CNY loan worth CNY 500,000 to an unnamed environmental protection equipment maker keeping an intellectual property as collateral.
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Goldman Sachs Invests in Billionaire Alan Howard’s Crypto Trading Platform, Barclays Joins In
British bank Barclays has joined Goldman Sachs in investing in British billionaire Alan Howard’s crypto trading platform, Elwood Technologies. Down Capital as well as venture units of Commerzbank AG and billionaire Michael Novogratz Galaxy Digital Holdings Ltd, a crypto merchant bank, emerged as other investors who participated in the funding rou...
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Union Budget 2022: Digital Banking Units to Be Set Up in 75 Districts by Scheduled Commercial Banks
Finance Minister Nirmala Sitharaman announced the introduction of Digital Rupee which will be issued by the Reserve Bank of India starting 2022-23, along with the setting up of 75 digital banking units in 75 districts by scheduled commercial banks.
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CrossTower, a Global Cryptocurrency Exchange, Enters India Despite Policy Uncertainty
CrossTower cryptocurrency exchange has set up a local unit in India and launched a trading platform to capture the growing domestic crypto market even though the fate of cryptocurrency in India is still unclear.
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UAE Plans To Launch Digital Currency Within Five Years
The United Arab Emirates will launch its first digital currency by 2026, the central bank of the oil-rich Gulf state, which serves as the region's financial hub, said Monday.
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Facebook-Backed Cryptocurrency Project Diem to Launch US Stablecoin in Major Shift
Digital currency group Diem Association, formerly known as Facebook's Libra project, plans to launch a US dollar stablecoin as it scales back its global ambitions to focus on the United States, the group said.
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Huawei Said to Be in Talks to Sell Parts of Its Honor Smartphone Business
Huawei is in talks with Digital China Group and other suitors to sell parts of its Honor smartphone unit in a deal that could fetch up to CNY 25 billion (roughly Rs. 27,233 crores), people with knowledge of the matter said.
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Global Bank Messaging Network SWIFT to Trial Live Digital Currency Transactions in 2025
SWIFT will trial live transactions of tokenised assets and digital currencies next year. Banks and asset managers hope that by using digital units - usually blockchain-based tokens that represent a share of the underlying asset - trading can be quicker, cheaper and more efficient, including by cutting out middlemen involved in many transactions.
-
Paytm Payments Bank Board Is Independent, Paytm CEO Vijay Shekhar Sharma Says
The board of India's Paytm Payments Bank is independent and capable of addressing regulatory concerns, the chief executive officer of digital payments firm Paytm, formally known as One97 Communications Ltd, (OCL) said on Monday.
-
PhonePe Announces UPI Services in UAE for Travelling Indian Users: Know All Details
PhonePe launched its Unified Payments Interface (UPI) services in the United Arab Emirates (UAE) for Indian travellers as well as NRIs residing in the country on March 28. This service will now allow PhonePe users to make rapid digital transactions by scanning a QR code at retail stores, dining outlets, and other tourist attractions. The service is...
-
Paytm Gets Third-Party UPI App License From NPCI as Payments Bank Ceases Operations
Indian digital payments firm Paytm, formally known as One 97 Communications, was on Thursday granted a third-party application provider license by the country's payments authority, which will enable it to facilitate payments after its banking unit ceases operations.
-
Paytm Payments Bank Said to Cut About 20 Percent of Staff as Business Halt Looms
Indian digital payments firm Paytm plans to cut close to 20 percent of staff at its banking unit amid uncertainty over the unit's future due to a looming central bank deadline for it to halt most operations, two sources said.
-
Mastercard to Explore Tokenised Bank Deposit Services as It Gears to Dig Deeper into Crypto
Mastercard is gearing up to launch its ‘Multi-Token Network (MTN)’ in its beta version in the UK in the coming months. With the MTN, Mastercard is exploring if the unit of money in an individual’s bank account could be transformed into a digital saving on the blockchain. This could open more use cases of digital money, the company believes.
-
India, UK Discuss Crypto Assets; Focus on Robust Approach to Handling Risks and Vulnerabilities
India and the UK discussed international developments regarding crypto assets at the India-UK 2nd Financial Markets Dialogue t the India-UK 2nd Financial Markets Dialogue on Wednesday. Both countries' participants at the dialogue provided updates on recent developments in their respective banking sectors. They also discussed banking trends and emer...
-
PM Modi Dedicates 75 Digital Banking Units Across 75 Districts
With an aim to promote financial inclusion, Prime Minister Narendra Modi on Sunday dedicated 75 Digital Banking Units (DBUs) to the nation.
-
Chinese Municipal Bank Issues First E-CNY Loan to Manufacturing Unit as Part of Digital Yuan Expansion
The Agricultural Commerce Bank of Zhangjiagang issued the first e-CNY loan worth CNY 500,000 to an unnamed environmental protection equipment maker keeping an intellectual property as collateral.
-
Goldman Sachs Invests in Billionaire Alan Howard’s Crypto Trading Platform, Barclays Joins In
British bank Barclays has joined Goldman Sachs in investing in British billionaire Alan Howard’s crypto trading platform, Elwood Technologies. Down Capital as well as venture units of Commerzbank AG and billionaire Michael Novogratz Galaxy Digital Holdings Ltd, a crypto merchant bank, emerged as other investors who participated in the funding rou...
-
Union Budget 2022: Digital Banking Units to Be Set Up in 75 Districts by Scheduled Commercial Banks
Finance Minister Nirmala Sitharaman announced the introduction of Digital Rupee which will be issued by the Reserve Bank of India starting 2022-23, along with the setting up of 75 digital banking units in 75 districts by scheduled commercial banks.
-
CrossTower, a Global Cryptocurrency Exchange, Enters India Despite Policy Uncertainty
CrossTower cryptocurrency exchange has set up a local unit in India and launched a trading platform to capture the growing domestic crypto market even though the fate of cryptocurrency in India is still unclear.
-
UAE Plans To Launch Digital Currency Within Five Years
The United Arab Emirates will launch its first digital currency by 2026, the central bank of the oil-rich Gulf state, which serves as the region's financial hub, said Monday.
-
Facebook-Backed Cryptocurrency Project Diem to Launch US Stablecoin in Major Shift
Digital currency group Diem Association, formerly known as Facebook's Libra project, plans to launch a US dollar stablecoin as it scales back its global ambitions to focus on the United States, the group said.
-
Huawei Said to Be in Talks to Sell Parts of Its Honor Smartphone Business
Huawei is in talks with Digital China Group and other suitors to sell parts of its Honor smartphone unit in a deal that could fetch up to CNY 25 billion (roughly Rs. 27,233 crores), people with knowledge of the matter said.
