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Fintech firm Cred joins Indian central bank's digital currency project

Summary by Channel News Asia

MUMBAI : Tiger Global and Peak XV backed Indian firm Cred has become the first fintech platform to roll out access to India's central bank digital currency, the company said on Tuesday.The Reserve Bank of India had started a pilot for the e-rupee, which is a digital alternative to the physical currency, i

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Fintech firm Cred joins Indian central bank’s digital currency project

Indian firm Cred has become the first fintech platform to roll out access to India's central bank digital currency, the company said

2 months ago·India

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Channel News Asia

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Fintech firm Cred joins Indian central bank's digital currency project

2 months ago·Singapore

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Digital Pound Foundation - Incorporated on 22 June 2021, the Digital Pound Foundation is an independ

Cred Launches e-Rupee Wallet, Marking a Milestone in India’s Digital Currency Initiative - Digital Pound Foundation

Indian fintech giant Cred has become the first non-bank platform to roll out access to the e-Rupee, India’s central bank digital currency (CBDC). This development follows the Reserve Bank of India’s (RBI) decision to expand its CBDC pilot programme beyond banks, opening the door for private payment firms to participate. Cred, backed by investors including Tiger Global and Peak XV, announced that its e-Rupee wallet will initially be available to …

2 months ago

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IndianWeb2.com

Cred Becomes 1st Fintech Platform to Roll Out Access to CBDC e-Rupee

Cred, a fintech platform backed by Tiger Global and Peak XV, has become the first fintech company to roll out access to India's central bank digital currency (CBDC), known as the e-rupee.The Reserve Bank of India (RBI) initiated a pilot for the e-rupee in December 2022, initially allowing only banks to offer access. However, in April 2024, the RBI expanded the pilot to include payment firms. Cred will initially roll out access to its e-rupee wal…

2 months ago

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Entrackr

CRED launches e₹ wallet in collaboration with RBI

Fintech unicorn CRED has launched a beta version of its e₹ wallet, developed in partnership with the Reserve Bank of India (RBI) and YES BANK as the sponsor bank. This launch makes CRED the first fintech platform to implement RBI’s Central Bank Digital Currency (CBDC). The e₹ wallet integrates the security and reliability of a sovereign currency with CRED’s payment experience. It will allow members whitelisted for the beta program to pay UPI-lin…

2 months ago

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NDTV Profit

CRED Becomes First Fintech Platform To Launch E-Rupee Wallet With RBI

CRED has announced the launch of its e-rupee pilot, in collaboration with the Reserve Bank of India and Yes Bank, the company said in a press release. With this move, CRED has become the first fintech platform to partner with the RBI on central bank digital currency. Also, Yes Bank will be the first sponsor bank to enable CBDC issuance for a third party application provider like CRED.CRED's e-rupee wallet supports transactions up to Rs 10,000 pe…

2 months ago

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