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RBI Imposes Rs 76.6 Lakh Penalty On Four Entities
The Reserve Bank on Friday said it has imposed Rs 76.6 lakh penalty on four non-banking financial companies for non-compliance with certain provisions of its directions related to 'peer-to-peer lending platform'.
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OKX Admits to Unlicensed Operations, Agrees to $505 Million Settlement with US DoJ
The OKX crypto exchange has pleaded guilty to operating an unlicensed money transmission business in the US. As part of the settlement, its parent company, Aux Cayes FinTech, paid an $84 million (roughly Rs. 731 crore) penalty and forfeited $421 million (roughly Rs. 3,667 crore) in fees, primarily collected from a few institutional clients.
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"You Aren't Rich If...": X User Says Anything Less Than Rs 60 Lakh Is Poor, Sparks Debate Online
A fintech enthusiast's X post claiming that anything less than Rs 60 lakh per annum is "poor" has sparked a discussion online.
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BoA Chief Predicts Banks Will Go Bullish on Crypto Once Rules Are More Defined Under TrumpÂ
Brian Moynihan, the CEO of BoA, said in a CNBC interview Tuesday that once the crypto rules were more defined, virtual assets could be classified as real fintech tools that could be integrated into existing businesses.
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Tech Company Stops Hiring Humans, CEO Says AI Capable Of All Office Tasks
Klarna, a leading "buy now, pay later" fintech provider, has halted human hiring and relies on artificial intelligence (AI) to perform tasks once handled by hundreds of employees.
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Swedish Fintech Company Stopped All Hiring Since Last Year Replacing Workers With AI
Klarna said earlier this year that its AI assistant, which is powered by OpenAI, is doing the work of 700 full-time customer service agents.
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In Rare Speech, Jack Ma Pushes For AI, Sees Its Use In Future For Ant Group
Alibaba co-founder Jack Ma voiced confidence in its affiliate Ant Group's future, seeing significant opportunities in artificial intelligence for the fintech giant, at a rare public appearance since China halted its planned IPO in 2020.
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Goldman Sachs Plans to Spin Out Blockchain-Based Digital Assets Platform : Report
Goldman Sachs is working to create a crypto platform. The company, presently, is in talks with various other fintech and Web3 firms which, it feels, have the potential to become partners and load the crypto platform with various features.
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UK to Launch Pilot for Blockchain-Based Digital Gilt Instrument: Key Details
For its upcoming gilt instrument, the UK aims to harness the benefits of Distributed Ledger Technology (DLT), including automation, smart contracts, and streamlined management of the entire securities lifecycle.
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South Korea Arrests 215 On Suspicion Of $228 Million Crypto Scam
South Korean police have arrested 215 people on suspicion of stealing 320 billion won ($228.4 million) in the biggest cryptocurrency investment scam in the country.
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Binance's Tri-Party Model: How It’s Calming Institutional Investor Concerns, According to Division Head
In conversation with Gadgets 360, Catherine Chen, Head of VIP & Institutional at Binance, highlighted that crypto asset volatility continues to make investors hesitant to explore the asset class. Chen emphasized that the primary challenge for exchanges in gaining investor trust—across all levels—lies in continuous research to precisely identify...
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Paytm Gets Approval from NPCI to Enroll New UPI Users
Paytm has said that it has received approval from the country's payments authority to onboard new unified payment interface (UPI) users. The NPCI's approval comes after Paytm submitted a request earlier in August this year.
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Fintech Firm Stripe Has Reportedly Acquired Stablecoin Platform Bridge For Over a Billion Dollars
Stripe has reportedly spent $1.1 billion (roughly Rs. 9,248 crore) to acquire Bridge, a stablecoin platform that enables the issuance of stablecoins. Multiple reports have described this acquisition as the largest to date in the Web3 space.
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CRED Cancels Jackpot Prize Worth Rs 3.25 Lakh Over "Bug" In System
A Delhi man was left disappointed after Fintech company CRED cancelled his jackpot win worth Rs 3.25 lakh.
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China Firm Launches AI "Life Assistant" That Can Order Food, Hail Taxis
The fintech firm backed by Chinese e-commerce giant Alibaba has made a foray into products powered by artificial intelligence after announcing a "life assistant" mobile app.
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RBI Imposes Rs 76.6 Lakh Penalty On Four Entities
The Reserve Bank on Friday said it has imposed Rs 76.6 lakh penalty on four non-banking financial companies for non-compliance with certain provisions of its directions related to 'peer-to-peer lending platform'.
-
OKX Admits to Unlicensed Operations, Agrees to $505 Million Settlement with US DoJ
The OKX crypto exchange has pleaded guilty to operating an unlicensed money transmission business in the US. As part of the settlement, its parent company, Aux Cayes FinTech, paid an $84 million (roughly Rs. 731 crore) penalty and forfeited $421 million (roughly Rs. 3,667 crore) in fees, primarily collected from a few institutional clients.
-
"You Aren't Rich If...": X User Says Anything Less Than Rs 60 Lakh Is Poor, Sparks Debate Online
A fintech enthusiast's X post claiming that anything less than Rs 60 lakh per annum is "poor" has sparked a discussion online.
-
BoA Chief Predicts Banks Will Go Bullish on Crypto Once Rules Are More Defined Under TrumpÂ
Brian Moynihan, the CEO of BoA, said in a CNBC interview Tuesday that once the crypto rules were more defined, virtual assets could be classified as real fintech tools that could be integrated into existing businesses.
-
Tech Company Stops Hiring Humans, CEO Says AI Capable Of All Office Tasks
Klarna, a leading "buy now, pay later" fintech provider, has halted human hiring and relies on artificial intelligence (AI) to perform tasks once handled by hundreds of employees.
-
Swedish Fintech Company Stopped All Hiring Since Last Year Replacing Workers With AI
Klarna said earlier this year that its AI assistant, which is powered by OpenAI, is doing the work of 700 full-time customer service agents.
-
In Rare Speech, Jack Ma Pushes For AI, Sees Its Use In Future For Ant Group
Alibaba co-founder Jack Ma voiced confidence in its affiliate Ant Group's future, seeing significant opportunities in artificial intelligence for the fintech giant, at a rare public appearance since China halted its planned IPO in 2020.
-
Goldman Sachs Plans to Spin Out Blockchain-Based Digital Assets Platform : Report
Goldman Sachs is working to create a crypto platform. The company, presently, is in talks with various other fintech and Web3 firms which, it feels, have the potential to become partners and load the crypto platform with various features.
-
UK to Launch Pilot for Blockchain-Based Digital Gilt Instrument: Key Details
For its upcoming gilt instrument, the UK aims to harness the benefits of Distributed Ledger Technology (DLT), including automation, smart contracts, and streamlined management of the entire securities lifecycle.
-
South Korea Arrests 215 On Suspicion Of $228 Million Crypto Scam
South Korean police have arrested 215 people on suspicion of stealing 320 billion won ($228.4 million) in the biggest cryptocurrency investment scam in the country.
-
Binance's Tri-Party Model: How It’s Calming Institutional Investor Concerns, According to Division Head
In conversation with Gadgets 360, Catherine Chen, Head of VIP & Institutional at Binance, highlighted that crypto asset volatility continues to make investors hesitant to explore the asset class. Chen emphasized that the primary challenge for exchanges in gaining investor trust—across all levels—lies in continuous research to precisely identify...
-
Paytm Gets Approval from NPCI to Enroll New UPI Users
Paytm has said that it has received approval from the country's payments authority to onboard new unified payment interface (UPI) users. The NPCI's approval comes after Paytm submitted a request earlier in August this year.
-
Fintech Firm Stripe Has Reportedly Acquired Stablecoin Platform Bridge For Over a Billion Dollars
Stripe has reportedly spent $1.1 billion (roughly Rs. 9,248 crore) to acquire Bridge, a stablecoin platform that enables the issuance of stablecoins. Multiple reports have described this acquisition as the largest to date in the Web3 space.
-
CRED Cancels Jackpot Prize Worth Rs 3.25 Lakh Over "Bug" In System
A Delhi man was left disappointed after Fintech company CRED cancelled his jackpot win worth Rs 3.25 lakh.
-
China Firm Launches AI "Life Assistant" That Can Order Food, Hail Taxis
The fintech firm backed by Chinese e-commerce giant Alibaba has made a foray into products powered by artificial intelligence after announcing a "life assistant" mobile app.
