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Analysis

Q3 2024 Intelligence Report: Major Highlights in FX/CFD Markets

  • India’s share of website visits climbed to 55% of global traffic.
  • Retail CFD volume approaching $20 trillion monthly (excluding Japan).
Tuesday, 10/12/2024 | 14:12 GMT by Sylwester Majewski
CryptoCurrency

Binance, WazirX Named in India’s $97M Crypto Tax Investigation: Report

  • Investigations into 17 cryptocurrency firms found widespread tax non-compliance.
  • Approximately $14 million of the evaded taxes has reportedly been recovered through penalties.
Wednesday, 04/12/2024 | 14:28 GMT by Jared Kirui
FinTech

Revolut India CEO Reveals Upcoming Product: Aims to Disrupt Local FX Market

  • The British fintech received a licence from the Indian central bank last September.
  • It is planning to launch its services in the country next year.
Monday, 18/11/2024 | 10:11 GMT by Arnab Shome
Retail FX

Indian Regulator Calls Prop Trading Platforms “Unauthorised”

  • SEBI pointed out that these platforms are violating local securities market laws.
  • The agency did not ban the platforms but noted that investors must engage with them at their “own risk.”
Thursday, 07/11/2024 | 05:28 GMT by Arnab Shome
Retail FX

Two Prop Firms and ThinkMarkets Added to India's Central Bank Warning List

  • The prop trading companies mentioned are FundedNext and Smart Prop Trader.
  • According to the central bank, these entities lack authorization to offer FX trading in the country.
Wednesday, 23/10/2024 | 07:11 GMT by Damian Chmiel
Payments

Revolut Secures Prepaid Card Authorization in India, Plans 2025 App Launch

  • The fintech firm secured RBI authorization this year for prepaid cards and wallets.
  • The company is increasing its global workforce by 40% to support its expansion.
Tuesday, 17/09/2024 | 11:44 GMT by Tareq Sikder
FinTech

Mastercard Takes On Fraud with Biometric Passkey Launch in India

  • The service replaces traditional passwords and OTPs with fingerprints or facial scans.
  • It uses tokenization to protect payment and biometric data, reducing the risk of unauthorized access.
Thursday, 29/08/2024 | 10:28 GMT by Tareq Sikder
CryptoCurrency

Binance Secures 19th Global Approval with Indian AML Registration

  • India’s position in crypto adoption indicates its significance for Binance’s global expansion.
  • The compliance program, including AML, CFT, and KYC, is now available to Indian users.
Thursday, 15/08/2024 | 07:33 GMT by Tareq Sikder
FinTech

Adyen Expands in India with RBI Approval for Online Payment Aggregation

  • The Bengaluru hub will support local merchants and tap into India's tech talent.
  • The platform supports credit, debit, and local payment methods like UPI for transactions.
Thursday, 15/08/2024 | 06:00 GMT by Tareq Sikder
FinTech

India’s $32 Billion Remittance Market Attracts Wise as It Lifts Transaction Cap

  • The Reserve Bank of India has granted Wise a new license, allowing higher remittance limits.
  • India’s $7 trillion digital payments market by 2030 drives fintechs to navigate complex regulations.
Monday, 12/08/2024 | 05:10 GMT by Tareq Sikder
CryptoCurrency

Binance Pushes Back against India's $86 Million Show Cause Notice: Report

  • The exchange is facing multiple legal challenges in India, including a previous $2.2 million fine for anti-money laundering violations.
  • The tax authorities claim Binance earned over $476 million in transaction fees from Indian customers.
Tuesday, 06/08/2024 | 18:58 GMT by Jared Kirui
Retail FX

Exclusive: OctaFX Calls Allegations by India “Unsubstantiated” as Authorities Seize $9.6M

  • Local authorities raided the premises of several offices of OctaFX.
  • The broker allegedly earned $119.5 million from its Indian operations.
Thursday, 01/08/2024 | 10:07 GMT by Arnab Shome
FinTech

India's Cybersecurity Crisis: Ransomware Takes 300 Small Banks Offline

  • The attack has affected transaction processing among lenders.
  • Despite the disruption, the affected banks represent only about 0.5% of India's payment system volumes.
Wednesday, 31/07/2024 | 20:40 GMT by Jared Kirui
Payments

UPI One World: India's Digital Payments Gateway Welcomes the World

  • India launches UPI One World, allowing foreign travelers to use UPI payments.
  • UPI One World enables international visitors to pay via UPI using their own currencies.
Monday, 22/07/2024 | 16:02 GMT by Pedro Ferreira
CryptoCurrency

WazirX Halts Withdrawals after $235 Million Breach Linked to Tornado Cash

  • ZachXBT reported the attacker still holds over $104 million, mostly in Shiba Inu.
  • The newly transferred funds, which included Tether, have already been swapped.
Thursday, 18/07/2024 | 08:23 GMT by Tareq Sikder
Exchanges

Bitget Targets India Expansion with Crypto Regulatory Compliance Push

  • The crypto exchange is currently in talks with the local market watchdog.
  • India is one of the fastest adopters of digital assets in the world.
Wednesday, 03/07/2024 | 08:18 GMT by Damian Chmiel
Payments

RBI Greenlights Hitachi Payment Services for Online Payment Aggregation

  • A new chapter in India's digital payment revolution.
  • This authorization allows the company to offer an expanded suite of payment options.
Thursday, 27/06/2024 | 08:31 GMT by Pedro Ferreira
Retail FX

India Might See Derivatives Trading Similar to Lottery: Report

  • The government might label futures and options trading gains as “speculative income.”
  • There might be a 30 percent tax deductible at source for such trading transactions.
Friday, 21/06/2024 | 09:00 GMT by Arnab Shome
CryptoCurrency

Binance Paves Its Way to Re-enter India with a $2.25 Million Fine

  • The exchange was previously blacklisted by the local agency for anti-money laundering rule violations.
  • It already registered itself with the local FIU last May.
Thursday, 20/06/2024 | 06:13 GMT by Arnab Shome
Payments

Rupee Revolution? India's UPI Eyes International Expansion

  • The RBI and NIPL are collaborating to establish UPI in 20 countries by 2028-2029.
  • India's UPI aims to reshape the global payments game.
Friday, 07/06/2024 | 16:00 GMT by Pedro Ferreira
CryptoCurrency

Binance, KuCoin Cleared by India's Anti-Money Laundering Regulator

  • KuCoin paid a penalty of $41,000 and resumed operations.
  • Binance is waiting for the FIU to decide on the penalty.
Friday, 10/05/2024 | 15:14 GMT by Jared Kirui
Payments

From Rupees to Rand: India's UPI Makes a Play for Africa

  • New partnerships, new beginnings.
Friday, 03/05/2024 | 16:00 GMT by Pedro Ferreira
Retail FX

Exclusive: OctaFX Denies Money Laundering, "Baseless" Chart Manipulation Accusations

  • The Indian offices of the broker were raided earlier this month.
  • OctaFX assured Indian clients that "deposits and withdrawals are processed securely in the usual mode."
Thursday, 25/04/2024 | 06:13 GMT by Arnab Shome
Payments

Unlimit Jumps into Indian Payments Arena, Clinches RBI Approval

  • By 2024, digital commerce in India is projected to dominate, with transactions reaching US$211.30 billion.
  • The firm's entry into the Indian market has followed its recent expansion in Africa.
Thursday, 25/04/2024 | 00:01 GMT by Tareq Sikder
Thought Leaders

India Catching Up on China Investment-Wise: What is Not Right?

  • India’s tax load needs easing.
Wednesday, 24/04/2024 | 08:34 GMT by James Clifford
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