Payal and HDFC Bank-supported Mintok has achieved Delaw in a $ 3.5 million deal, making the first acquisition in India’s Central Bank Digital Currency Location.
Mintoch, an Indian ecommerce startup, which features merchant payment, has acquired a decimal in a deal of about $ 3.5 million, marking the first acquisition in the CBDC area of India, Reuters, Reuters. Have you learntCiting sources close to the case.
With Digiladge, which specializes in CBDC and Bill Payment, Mintoak’s participant banks-HDFC Banks, Axis Bank and SBI-e-Rupaye, can provide payment solutions as CBDC of India. With the acquisition, Mintok CEO Raman Khanduja says the firm “Easy and more small and medium enterprises for acquaintances want to help reach digital tools and financial services.”
Central Bank of India, Reserve Bank of India launched its e-Rupay pilot in December 2022. Initially, only the banks could use it, but in April 2023 the scope for the payment firms expanded.
The adoption of e-Rupaye has become dull, RBI reported 1 million retail transactions by the end of June 2024, a milestone only arrived using the digital currency issued by the state after the salaries of the employees incentive and partially paid by the state.
The RBI had earlier urged banks to urge them to increase the transaction at least 1 million per day by the end of 2023 to test the scalability of the system. However, this push has stopped, doubting the future of the digital currency initiative due to the difference between encouraging matrix and real user adoption.
