Author: fintech

The cryptocurrency infrastructure provider’s Binance Oracle enables smart contracts to run on real-world inputs and outputs. These oracles facilitate the entry of real-world data into the blockchain. This information might range from pricing information to weather forecasts. Oracles can also be bidirectional, allowing them to ‘send’ data to the outside world. The company’s blockchain oracle will connect smart contracts with data sources, ensuring the availability of the correct data at the correct time. The company’s BNB Chain ecosystem will be the first of its blockchains to use Binance Oracle to connect smart contracts with off-chain data to retrieve or send…

Ask Vinayak Burman, founder and managing partner of Vertices Partners, a law firm, how deep the cut will be for Indian fintech’ fund-raising, and he says: “They will be compelled to revisit their business models. Higher scrutiny prior to deal closures is expected.” Fintechs have had a bull run. According to Bain & Company (India Fintech Report 2022: Sailing Through Turbulent Tides), they have guzzled $35 billion since 2000. An estimated $8.4 billion will flow in 2022 — healthy, but lower from the $10 billion in 2021.

fintech startup based in Abu Dhabi, UAE, has secured $20 million in a Series B funding round. The company will the recently money to develop and add new features to its proprietary technology. Pyypl, an Abu Dhabi-based fintech, has announced a $20 million Series B financing to finance its anticipated Middle East and Africa expansion. Global Ventures, located in the United Arab Emirates, is one of ten new and current investors who took part in the round. The newest round of funding, which increases the total amount collected to $40 million, will go toward the development and implementation of additional…

Stockholm-based startup Atlar raised a $5 million (€5 million) seed round led by Index Ventures. The company has been working on an application programming interface (API) that facilitates bank-to-bank payments for European businesses. In addtion to Index Ventures, La Famiglia VC, Cocoa and various business angels also participated in the round, such as Revolut CFO Mikko Salovaara, former EVP of global sales at Adyen Thijn Lamers and N26 CFO Jan Kemper. While European consumers are already quite familiar with open banking and payment initiation, a lot of B2B transfers are still processed manually. Business banking hasn’t experienced the same level…

At a time when startups are experiencing “funding winter,” the International Financial Service Centre Authority (IFSCA) will begin awarding Fintech grants to Indian innovators early next year. According to IFSCA Chief Technology Officer Joseph Joshy, Indian Fintechs have begun to apply for the IFSCA Fintech Incentive Scheme, 2022, which includes six types of grants. “These applications will be reviewed by an external committee. The grants will most likely begin to flow early next year “He made the remarks on the sidelines of the Singapore Fintech Festival (SFF), which will take place from November 2-4, 2022.The grants are for bootstrap innovators…

PB Fintech, the parent company of Policybazaar and Paisabazaar, said its consolidated loss for the quarter ended September 2022 narrowed to Rs 186.63 crore compared to Rs 204.44 crore loss in the same quarter last year. The growth was led by strong growth in insurance premiums, credit disbursal and operating revenue. The company said its revenue from operations for the period jumped 105.11 percent to Rs 573.47 crore from Rs 279.58 crore reported in the corresponding quarter last year. Insurance premium for the quarter was at Rs 2,545 crore, up 79 percent year-on-year (YoY). Credit disbursal was at Rs 2,922…

At a time when startups are experiencing “funding winter,” the International Financial Service Centre Authority (IFSCA) will begin awarding Fintech grants to Indian innovators early next year. According to IFSCA Chief Technology Officer Joseph Joshy, Indian Fintechs have begun to apply for the IFSCA Fintech Incentive Scheme, 2022, which includes six types of grants. “These applications will be reviewed by an external committee. The grants will most likely begin to flow early next year “He made the remarks on the sidelines of the Singapore Fintech Festival (SFF), which will take place from November 2-4, 2022. At a time when startups…

The technique to utilise computer programmes (crypto trading bots) to buy and sell digital currencies on one’s behalf is known as automated crypto trading, also known as automated cryptocurrency trading. The majority of automated crypto trading platforms are application program interfaces (APIs). Furthermore, more recent crypto bots use smart contracts and function directly on the blockchain. In a conversation with FE Blockchain Akshay Bajaj, CEO, and co-founder, DeFiVerse, a fintech company talks about the advantages and challenges of automated crypto trading. (Edited Excerpts) Crypto bots can be used in strategies such as liquidity providing, yield farming, and crypto-options vaults are…

Indian startups raised a record high amount in venture debt last year. The equity funding squeeze would mean rising demand for this non-dilutive form of capital. But the deal terms are becoming more stringent. The mood in the startup hub of Bengaluru matches its weather these days.Dark clouds and overcast skies have made for gloomy days in recent weeks. Inside startups, everyone is bracing for a different kind of storm. Venture Capital (VC) firms are circulating notes to founders to prepare for tough times as capital gets

Financial technology (fintech) platform Stashfin has made an addition to its leadership team, with the appointment of Ankit Rajpal as senior vice-president (SVP) – Engineering. According to the platform, Rajpal has joined the Stashfin team and is expected to leverage his experience of working with new-age start-ups to enhance Stashfin’s technology stack. Reportedly,  Rajpal has worked in scaling up technology architecture, setting up engineering and data infrastructure, and will aim to use his expertise to further contribute to Stashfin’s growth prospects. We look forward to welcome Ankit Rajpal to Stashfin. As the SVP of Engineering, Rajpal will focus on transforming…