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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The Elevation Capital-backed firm’s decision to fold its product comes just months after rival Flint also shut its ‘yield-bearing’ product citing regulatory challenges.
Just nine months after raising $18 million from a bunch of high-profile venture capital firms, Singapore-incorporated crypto startup Pillow has discontinued its product from at least two of its largest markets, India and Nigeria.
“As a result of the current regulatory climate and its impact on associated financial infrastructure, we regret to inform you that Pillow is going to be discontinuing its service from June 22, 2023,” the company told its users this week through an in-app message.
The Morning Context has reviewed a copy of this communication.
The company has further asked its users to withdraw their funds from …
The acquisition of IDBI Bank puts his Fairfax smack dab in the middle of the RBI’s rules on bank ownership. It must now decide whether to sell CSB Bank or merge the two lenders, neither of which will be easy.
Lenders stand to gain a lot more than borrowers in the current challenging market environment
The stablecoin neobank has raised more than $100 million this year; Saudi Arabia is looking at stock market reforms; and other updates from the week.
