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INDIA REMITTANCES STABLECOINS
ED searches Bengaluru firms over alleged crypto-linked cross-border money transfers; probe estimates over Rs 2,500 croreBengaluru's Enforcement Directorate has raided six locations over alleged illegal cross-border money transfers exceeding Rs 2,500 crore usi...- OpenFX secures $94 million in round led by Accel, AtomicoLightspeed, Faction VC, M13, Northzone, and Pantera participated in the funding round of the cross-border payments infrastructure startup. ...
- Banking system has no alternativeOverseas money changers using stablecoins for Indian remittances face unexpected issues. Stablecoins, meant for fast, cheap transfers, are ...
- ₹-backed stablecoin brings little gain, but it puts stability and bank deposits at considerable riskIndia is considering regulating rupee-backed stablecoins. This move follows growing demand and concerns about financial stability. Two firm...
- Stablecoin falters as USDT premium collapses, disrupting NRI remittance channelMoney changers' innovative plan to use stablecoins for NRI remittances is facing disruption. The usual premium on USDT over the US dollar h...
- Some dollars to India 'tethered' to StablecoinsA growing share of Indian remittances is quietly shifting to stablecoins like USDT to exploit a 4–5% premium in India. Money changers route...
- ETtech Explainer: Will India toss the stablecoin, or embrace it?A stablecoin is a type of cryptocurrency pegged to another asset, such as gold or the US dollar. Unlike volatile cryptocurrencies such as B...
- The Rupee's next revolution: A leap into cryptoIndustry leaders anticipate the launch of rupee-backed stablecoins in India, potentially revolutionizing digital payments and enhancing fin...
- Trump signs GENIUS Act: What does this mean for Crypto policy in India?Donald Trump's administration took steps to mainstream crypto. The GENIUS Act, recognizing stablecoins, became law. This move impacts the g...
- Aim to increase e-rupee transactions to 10 lakh per day by 2023-end: RBI DG T Rabi SankarRBI deputy governor T Rabi Sankar pointed out that transactions through CBDCs bypass intermediaries and are instantaneous. In its aim to in...
- Why CBDC may not be the silver bullet to address crypto assets risksGlobally, central bankers are divided in opinion on whether the emergence of crypto assets led to an acceleration of their CBDC projects: i...
- Why CBDC may not be the silver bullet to address crypto assets risksStablecoins could also offer a faster, cheaper, and easier channel for cross-border remittances that broadly sidesteps the formal financial...
- RBI mulls pilot project for its digital currency; Will CDBC create an enigma for stable coins?Wholesale CBDCs will impact the usage of fiat collateralized stablecoins used for business specific remittances and payment settlements," h...
- Over 7% Indians owned cryptocurrency in 2021: UN trade bodyUNCTAD highlighted that the use of cryptocurrencies globally, including the developing countries, has increased exponentially during the CO...
- Many Indian expats turn to crypto to remit moneyIndustry trackers say that the way Indians are warming up to crypto assets as well as decentralised finance, remittances through crypto ass...
- Many Indian expats turn to crypto to remit moneyIndustry trackers say that the way Indians are warming up to crypto assets as well as decentralised finance, remittances through crypto ass...
- Crypto exchanges see a spurt in remittances from the Middle East, USIn most cases remittances are being done through less volatile crypto assets that are pegged to other currencies
- Tech Mahindra partners Quantoz to offer Stablecoin as a Service to US banksTech Mahindra will help customers integrate Quantoz’s NEXUS platform into their legacy infrastructure, which will enable automated token, c...
- Why India should not outlaw cryptocurrenciesWorld needs to get out of the dollar’s stranglehold and cryptocurrencies could play a big role in that.
- Facebook crypto coin: Draper joins the list to 'hear the story'Hedge funds, venture capitalists and other wealthy individuals are also likely to invest in the fund.
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