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The popularity of Dogecoin as a transactional currency has risen significantly in recent months. According to BitPay, a prominent crypto payment processor, Dogecoin is now the fourth most popular cryptocurrency for transactions on the platform. In June, Dogecoin accounted for 6% of transactions on BitPay, but by December, that figure had nearly doubled to 10%. This trend […]
CoinSwitch, a cryptocurrency trading platform, has released its proof of reserves, revealing that the total value of user assets held
The company published its proof of reserves analysis in an effort to provide transparency for its users. It is supported by some of the top investors in the world, including Tiger Global, Andreesen Horowitz (a16z), and Sequoia Capital. The firm possessed more assets as compared to holdings of its members on its platforms, according to […]
<p>Top cryptocurrency exchange, Binance, has partnered with Inswitch, a US-based global embedded financial technologies company, to offer fiat and crypto on-and-off-ramp services to Latin Americans.</p><p> The service will enable them to buy and sell cryptocurrencies currencies in the region, Inswitch announced on Wednesday.</p><p>Inswitch noted that its on-and-off-ramp services are integrated into various payment methods, banks and local currencies of over 10 countries in Latin America.</p><p>The partnership with Binance, therefore, makes it possible for users in the region to convert their fiat currencies into crypto and vice versa using Binance’s wallets, the company said. </p><p>Ronald Alvarenga, CEO of Inswitch, noted the company’s goal is to make the process of buying and selling cryptocurrencies “more appealing and effortless" for users in the region. </p><p>Alvarenga added that the firm is also seeking to bring more users in the region into the crypto market.</p><p>“With a simple and friendly user experience and easily integrated APIs, companies can expand their capabilities and features and become the trusted wallets of choice for the next billion cryptocurrency users,” Alvarenga explained.</p><p>Also speaking, Lara Legros, Binance’s Director of Fiat for LatAm, noted that the digital asset company’s collaboration with Inswitch will enable it to attract a higher number of users in the region while also driving financial inclusion.</p><p>Investments into Latin America</p><p>In terms of crypto adoptions, Latin America is one of the fastest-growing regions in the world. The region's e-commerce market is worth about $85 billion, according to estimates. Hence, fintech businesses are establishing their presence in the region. </p><p>A number of businesses have made investments in the region in recent months. Forex and contract for difference (CFD) broker, Hantec Markets, on Wednesday <a href="https://www.financemagnates.com/forex/hantec-markets-enters-latam-with-new-chile-office/">announced its entry</a> into Latin America by opening a new office in Chile.</p><p>The country office, which is to serve as the broker's hub in Latin America, is part of plans to strengthen Hantec Markets' position as a global brand, the broker explained.</p><p>In May, Huobi Global, a crypto exchange with a strong presence in Asia, <a href="https://www.financemagnates.com/cryptocurrency/news/huobi-global-acquires-bitex-expands-presence-in-latin-america/">acquired Bitex</a>, one of the oldest crypto exchanges in Latin America. Bitex has a strong presence in Argentina, Chile, Paraguay, and Uruguay.</p><p>In the same month, PayRetailers, a fintech payments specialist grounded in the Latin American markets, <a href="https://www.financemagnates.com/fintech/payretailers-acquires-paygol-and-pago-digital-to-bolster-latam-market/">acquired two online payment platforms</a>, Chile’s Paygol and Colombia’s Pago Digital. </p><p>The payments specialist said the move is to strengthen its card processing capabilities in the region.</p> This article was written by Solomon Oladipupo at www.financemagnates.com.
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Indian crypto exchange giant, CoinSwitch Kuber comes off as the next trading platform to be raided by the Indian Enforcement Directorate (ED). (Read More)
CRE8 is expected to bridge the Indian crypto market with world crypto forums. CRE8 contains 8 coins that capture most
CoinSwitch is preaching peace and predictability. The Indian government is seeking to introduce new regulations around blockchain. CoinSwitch has been ...
CoinSwitch CEO Ashish Singhal at a Davos Meet called for regulatory clarity in order to protect investors’ interests and uplift the crypto sector which has been badly beaten down. The former Amazon engineer turned co-founder of one of India’s largest crypto trading platforms stated, “Users don’t know what will happen with their holdings is the government going to […]
Indian Investors were left shocked after the two most prominent crypto exchanges CoinSwitch Kuber and WazirX have disabled rupee deposits for the purchase of cryptocurrency through a widely-used state-backed transfer network. This has caused a massive public outcry as the clamor for regulatory clarity grows. The alarming development comes after the National Payments Corporation of […]
CEO Ashish Singhal says that their target is to get 50 million users in India especially in the next 2 ...
CoinSwitch Kuber successfully raised funding amounting to $260 million. The exchange became the largest crypto company in India. CoinSwitch Kuber, ...
CoinSwitch Kuber hints at another possible fundraising round. If confirmed, the round will raise $2 billion. This will give the
India has recovered $14 million in goods and services tax from crypto firms like WazirX, but Binance has yet to pay its $85 million tax evasion liabilities, the minister said.
According to Liminal, 75 days after the hack, WazirX still kept more than $175 million in Liminal custody despite blaming the custodian for causing the breach.
CoinSwitch expects it will take two years to distribute $70 million in recovery funds to WazirX users who lost money due to an alleged cyberattack last year.
WazirX has implemented a Singapore-backed restructuring plan to recover from the $235 million cyberattack in July 2024.
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