Money & Payments

Singapore Central Bank Proposes New Rules for Bitcoin Startups

Singapore’s central bank has proposed a new regulatory framework for payments that could cover digital currency exchanges. Digital currency exchanges would be covered by a provision overseeing startups that provide “money transmissions and conversion services. “The scope of currency conversion activities is intended to encompass the business of exchanging of currencies at a rate of…

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India crosses 1 Billion Mobile Subscribers

India’s mobile phone subscriber base crested the 1 billion users mark, as per data released recently by the country’s telecom regulator. But experts see the milestone as the beginning of some dramatic action rather than as a climax, as many would become smartphone users eventually. Read more at Forbes Photo by Jason Sam

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HKMA grants first batch of licences for SVF issuers

The Hong Kong Monetary Authority (HKMA) announced today (August 25) that the Monetary Authority has granted stored value facilities (SVF) licences to the following SVF issuers under the Payment Systems and Stored Value Facilities Ordinance (the Ordinance): Read more at HKMAPhoto by minghong

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Alibaba-backed firm Paytm losses soar 312%

Digital payments and e-commerce platform Paytm has posted a net loss of R1,534 crore in the financial year ended March 2016, a rise of 312% over the previous year. With a user base of 126 million, Paytm earns revenue through the mobile wallet and e-commerce business. Its payments business includes mobile recharges, money transfer, and…

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