Mediobanca and Founders Factory Collaborate to Nurture 35 Startups with €12M Investment
In a strategic move to foster innovation and support the thriving startup ecosystem, leading Italian investment bank Mediobanca has joined forces with Founders Factory, a renowned global startup accelerator, to invest €12 million in nurturing 35 promising startups. The groundbreaking collaboration aims to fuel the growth of innovative ventures across various industries, propelling them to […]
Mastercard and Geidea Forge Strategic Partnership to Revolutionize FinTech in Saudi Arabia
Mastercard, a globally recognized leader in payment solutions, has entered into a strategic partnership with Geidea, the foremost FinTech innovator in Saudi Arabia. The primary objective of this partnership is to enhance consumer and business access to world-class card and payment solutions, aiming to revolutionize the financial landscape in the region. Geidea, the largest FinTech […]
PhonePe Unveils Groundbreaking Health Insurance Plans with Monthly UPI Payments, Revolutionizing Coverage Accessibility in India
PhonePe Insurance Broking Services has made a significant announcement today, unveiling their new range of health insurance plans that promise comprehensive coverage through strategic partnerships with multiple insurers. What truly sets these plans apart from the rest in the market is the groundbreaking inclusion of monthly payment options facilitated by the Unified Payments Interface (UPI), […]
Ensuring Financial Stability: Cleveland Fed President Addresses Risks of Real-Time Payment System
Cleveland Federal Reserve President Loretta Mester addressed concerns about the potential risks associated with the U.S. central bank’s new real-time money moving system, FedNow. She emphasized that the system is being designed to prioritize financial stability, especially in times of bank stress. One worry is that FedNow, which enables real-time, round-the-clock payments, could amplify banking […]
Indian Equity Markets Decline Amid Weak Global Cues and Sector-Specific Pressure
Indian equity markets experienced a downward trend in early trading on Thursday, influenced by weak global cues. The technology, financials, metals, and consumer goods sectors were the primary contributors to the decline. The 30-share BSE Sensex dropped 60 points or 0.09 percent, trading at 65,386, while the broader NSE Nifty fell 14 points or 0.07 […]
ONDC Enters Beta Phase: India’s Open Network for Digital Commerce Expands Across Major Cities
Entering its Beta phase, the Open Network for Digital Commerce (ONDC) has been launched in Mumbai, Delhi NCR (including Noida, Gurugram, and Faridabad), Chennai, Hyderabad, and Kolkata. This move comes after successfully scaling seller densities in these cities. ONDC aims to create an open network that connects buyers and sellers across India, providing a platform […]
Bankman-Fried lawsuit’s link with the former head attorney of FTX
According to a source with knowledge of the situation, Daniel Friedberg, the former head of FTX’s legal department, has assisted American prosecutors in their inquiry into the demise of the cryptocurrency firm. This puts additional tension on founder Sam Bankman-Fried, who was detained last month on suspicion of criminal fraud.In a meeting with 20 investigators […]
Risk of contagion increases, insurers avoid FTX-allied cryptocurrency enterprises
Multiple market players claimed insurers are refusing or restricting coverage to clients who have exposure to the insolvent crypto exchange FTX, rendering traders and exchanges of digital currencies uninsured for any damages from hacks, theft, or legal actions.Due to the lack of market regulation and the unstable pricing of Bitcoin and other cryptocurrencies, insurers were […]
After the FTX debacle, Goldman Sachs searches for cheap cryptocurrency companies
Following the failure of the FTX exchange, which hurt valuations and reduced investor interest, Goldman Sachs (GS.N) announced plans to allocate tens of millions of dollars to acquire or invest in cryptocurrency businesses.As per Mathew McDermott, head of digital assets at Goldman, the collapse of FTX has increased the demand for more dependable, regulated cryptocurrency […]
Bitcoin undergoes something akin to a “bloodbath”
It is no secret that Abu Dhabi-based cryptocurrency dealer Jad Fawaz is on the verge of bankruptcy, he claims. He continued by saying that he is laughing since there is no need in expressing additional dejection and annoyance over it.The 45-year-old is seeing his holdings disappear in recent months after quitting his real estate career […]