India’s recent completion of its first blockchain-enabled letter of credit transaction on the Contour Network marks a significant milestone in the digitization of trade finance processes. The transaction, valued at $3 million by Citibank, is expected to reduce transaction time and costs for clients, paving the way for more efficient
Cryptocurrency exchange Gemini has announced that it would open a new engineering center in India in order to take advantage of the country’s abundance of highly skilled IT professionals. The exchange is “in the midst” of constructing an engineering facility in Gurgaon, India, according to a statement released by CTO
On Wednesday, India and the UK discussed current affairs around crypto assets and emphasized the need for strong international strategies to address the risks involved. Participants from both countries provided updates on recent changes in their respective banking sectors at the second India-UK Financial Markets Dialogue, discussing banking trends and
This year has seen a lot of headlines regarding the rising economic dominance of the BRICS bloc of countries. According to a recent Bloomberg report, the BRICS countries are expected to grow their economies faster than the G7 nations. The collective country will grow economically to shift the global power
The government of India has always taken a relaxed approach to draft legislation for the nascent cryptocurrency sector. But this time, India’s Finance Minister Nirmala Sitharaman has emphasized the need for immediate awareness of the problems associated with crypto assets. Indian lawmakers, it has been said, pushed for quick action
India’s Finance Minister, Nirmala Sitharaman, raised concerns about the potential for crypto assets to cause “macroeconomic instability” at a press conference after her meeting with the G20 finance ministers and central bank governors. Speaking at the conference, Sitharaman emphasized: “There is a greater acceptance among all G20 members that any
Economic superpowers are stepping up their efforts to break free from US dollar hegemony, raising the possibility of the emergence of a new global order. Jim O’Neill, a former chief economist at Goldman Sachs, urged the BRICS bloc to grow and challenge the dollar’s hegemony this week. He stated that
Algorand (ALGO), the blockchain-based cryptocurrency protocol that uses proof-of-stake technology, is up more than 11% in 24-hour trading following the headlines of its partnership in India. The partnership agreement which it believes will help India’s growing economy as it transitions from Web2 to Web3. As per reports, the three main areas
The National Payments Corporation of India (NPCI) has proposed an interchange fee on UPI transactions of more than Rs 2,000 undertaken via Prepaid Payment Instruments (PPIs). A UPI transaction fee will be charged from April 1, 2023 and by September 30, 2023, the interchange fee will be revised. Twitter has
Floki (FLOKI) surges 10% following the listing announcement with KoinBX Exchange, targeting India’s booming crypto market. The listing is set to take place on March 31, 2023, at 11:30 AM UTC. According to CoinMarketCap, Floki price, at press time, was $0.00003565 with a 24-hour trading volume of $22,496,965, at the
