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Mridul Das

Introvert!ย โ€ขย 2m

This could add a new wave in Fintech๐Ÿ’ฐ space.โฌ‡๏ธ A Mumbai-based startup ๐Ÿš€ Mintoak๐Ÿ’ฐ has made $3.5 million๐Ÿ’ต deal through e-rupee. This startUp ๐Ÿ’ก is backed by PayPal and HDFC Bank. Mintoak was founded by Raman Khanduja, Kabeer Jain, Rama Tadepalli, Rohit Ramana and Sanjay Nazareth and Raman Khanduja is the CEO. โžก๏ธ Google Pay, PhonePe, as well as Amazon Pay are also seeking to join the pilot, ๐Ÿ“ˆ โžก๏ธ Mintoak is a merchant payment services provider, which specialises in Central Bank Digital Currency (CBDC) and bill payments services, making it India's first e-rupee related deal. โžก๏ธ This is the first acquisition in the nascent CBDC space. This is actually huge because by adding Digiledge's bill payments and CBDC capabilities, it will be easier for merchant acquirers to grow and help more small and medium enterprises access digital tools and financial services. ๐Ÿ”ฅ โžก๏ธThe founders of Mintoak said that the deal will enable its partners like HDFC Bank, Axis Bank and SBI to offer more comprehensive CBDC-related payment services for their clients.

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