Remittances
Latest news, explainers and analysis on Remittances. Tracking 4 stories on Arth Vani.
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Latest on Remittances
Félix Raises ₹722 Crore to Expand Beyond Remittances, Eyeing New Financial Products
US-based fintech Félix has secured $87 million (approx. ₹722 crore) in a Series C equity round, part of a larger $200 million (approx. ₹1,660 crore) funding effort. The chat-based platform, currently facilitating remittances for Latino immigrants via WhatsApp, plans to diversify into a wider range of financial products.
BreakingStablecoins Show No Cost or Speed Advantage for Remittances: Banca d'Italia Research
New research from Banca d'Italia indicates that stablecoins do not offer a systematic cost or speed advantage over traditional channels for cross-border remittances. This finding challenges the perception that digital currencies inherently provide cheaper and faster international money transfers.
BreakingStablecoin Premium in India Soars Above 8.5% Amid Regulatory Clampdown
Indian users are facing a significant surge in the price of stablecoins like USDT, with premiums now exceeding 8.5%. This increase follows actions by the Enforcement Directorate against entities facilitating crypto transfers, disrupting a key remittance channel for NRIs and highlighting the urgent need for clearer crypto regulations.
India Records Rare $4.7 Billion Current Account Surplus as Remittances Surge
India's economy achieved a rare milestone in April with a current account surplus of $4.7 billion, fueled by strong earnings from service exports and money sent home by Indians living abroad. While oil imports remains high, this surplus strengthens the Rupee and helps keep the national economy on stable ground.
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