India reiterates concerns over digital currency trading

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India’s central bank reiterated its hesitation over digital currency after advising financial institutions that they would have to reverse a trade ban in 2018, Bloomberg reported on Friday (June 4th). The Reserve Bank of India (RBI) recently asked lenders not to cite a 2018 central bank circular as a rationale for preventing digital currency exchanges. A court had since overturned the order. “There is no change in the position of RBI,” RBI Governor Shaktikanta Das told the media, according to Bloomberg. “We have major concerns regarding the cryptocurrency, which we have conveyed to the government.”

In other news, Unchained Capital, Inc. unveiled the “initial closing” of a $ 25 million Series A capital raise led by NYDIG in addition to Stone Ridge Holdings Group, according to an announcement on Friday, June 4. . The Austin, Texas-based company is developing a financial services system for businesses and individuals who maintain long-term bitcoin wealth and wish to own a private key. “Historically, there has been a lack of investment in dedicated bitcoin infrastructure … but we expect this increase to be the first in a growing trend of all-bitcoin companies attracting capital investment at scale. that has long been deserved, ”Unchained Capital’s business development director, Parker Lewis, said in the announcement.

On another note, Progressive Care Inc. now allows people to pay in bitcoin for its COVID-19 rapid testing services at the company’s PharmcoRx locations, according to an announcement on Friday, June 4. Management noted in the statement that the move comes just before “the world’s largest Bitcoin conference” takes place this weekend, “drawing more than 50,000 visitors to Pharmco’s main market in the Miami metro area.” . According to the announcement, most international air carriers require testing based on the COVID-19 PCR, which PharmcoRx provides, as a “prerequisite for travel.”

And Anchorage Digital has unveiled Ethereum-backed institutional loans through Anchorage Financing, according to a Medium article. To this end, institutional clients can now leverage an “Ethereum-backed” US dollar line of credit through a BankProv partnership. “We are taking our full service offering for the cryptocurrency community to the next level,” BankProv CEO David Mansfield said in the announcement. BankProv is one of America’s oldest banks, having operated for over two centuries as The Provident Bank before its “modern rebranding” last year.

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NEW PYMNTS DATA: STUDY ON CRYPTOCURRENCY PAYMENTS – MAY 2021

About the study: U.S. consumers see cryptocurrency as more than just a store of value: 46 million plans say they plan to use it to make payments for everything from financial services to groceries. In the Cryptocurrency Payments Report, PYMNTS surveys 8,008 cryptocurrency users and non-users in the United States to examine how they plan to use crypto to make purchases, what crypto they plan to buy. ‘use – and how merchant acceptance can influence merchant choice and consumer spending.




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