![]() ![]() Indian finance minister Nirmala Sitharam asserted that the union government is “not against cryptocurrency and will instead look into ways it can help the country’s fintech sector”. Paytm Money has made the journey of investing in IPOs even simpler and more hassle-free. ![]() “If it was ever to become fully legal in the country, then clearly there could be offerings we could launch,” he said. He commented that Bitcoin was still in a regulatory grey area if not a regulatory ban in India. IPO-bound Digit trusts its tech to sell health insurance, but consumers dont yet. Since April last year, India’s investment in cryptocurrencies jumped to more than $10bn from $923m.ĭeora’s comments come as Paytm prepares for public subscriptions to its $2.5 billion initial public offerings, after selling almost half to anchor investors. BTC still in India’s grey regulatory area Details: The Zurich-based reinsurance giant is looking to acquire a 20-25 stake in the venture with an initial capital commitment of around 100 million, sources told us. Recent reports show Indian nationals are investing in digital assets at a huge rate, with almost 8% of the population now owning cryptocurrency. IPO-bound Paytm is in the final stages of talks to bring on board Swiss RE as a strategic partner in its insurance business. India is slowly positioning itself as a global cryptocurrency hub. Still, whether or not Bitcoin becomes legal tender in the country – depends on the Reserve Bank of India which kept its highly critical stand and still advocates a ban. Theres a slew of risks that Paytm has in common with other IPO-bound. Paytm is set to raise Rs 18,300 crore from the markets through a fresh issue of Rs 8,300 crore and an offer for sale of Rs 10,000 crore. Posted by: anwesha madhukalya, Jun 17, 2021, 8:57 AM IST. The courts did lift the prohibitions in March 2020 and since then, the government decided that crypto wasn’t that bad at all and started thinking of its legislation. Paytm lists being seen as a foreign-owned and controlled company as an IPO risk. IPO-bound Paytm to raise 1.1 bn from anchor investors. Also read: IPO-bound Paytm sends offer for sale to employees, to file draft prospectus in July. However, the problem began when the Reserve Bank of India (RBI) completely forbade all crypto trading. ![]()
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