PayPal-Backed Startup Flexes Muscle With Strategic E-Rupee Acquisition

Benzinga

04 Mar

Indian startup Mintoak, backed by global payments giant PayPal Holdings Inc. PYPL has acquired fintech player Digiledge, marking the first acquisition in the country’s developing central bank digital currency space.

What Happened: Mintoak, a provider of merchant payment services, has finalized the purchase of Digiledge, a firm specializing in CBDC and bill payment services, for around $3.5 million. Reuters reported Monday.

The Reserve Bank of India, India’s central bank, launched a pilot for the e-rupee, a digital counterpart to physical currency, in Dec. 2022. Some of the biggest fintech players in the country, including Alphabet Inc. GOOG-backed Google Pay, Walmart Inc. WMT-backed PhonePe, and AmazonPay have expressed interest in joining the pilot project.

This acquisition comes at a time when the global stance on CBDCs is divided. Federal Reserve Chair Jerome Powell has indicated that the U.S. central bank won’t develop a central bank digital currency under his watch during his testimony before the Senate Banking Committee.

Photo Courtesy: Shutterstock.com

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

GOOGAlphabet Inc

$169.82-1.39%

Overview

PYPLPayPal Holdings Inc

$69.79-1.77%

WMTWalmart Inc

$97.25-1.38%

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All rights reserved.</p></div></body></html>","source":"Benzinga","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta content=\"text/html; charset=utf-8\" http-equiv=\"Content-Type\"/>\n<meta content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\" name=\"viewport\"/>\n<meta content=\"telephone=no,email=no,address=no\" name=\"format-detection\"/>\n<title>PayPal-Backed Startup Flexes Muscle With Strategic E-Rupee Acquisition</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPayPal-Backed Startup Flexes Muscle With Strategic E-Rupee Acquisition\n</h2>\n<h4 class=\"meta\">\n\n\n2025-03-04 10:46 GMT+8   <a href=\"https://www.benzinga.com/25/03/44100043/mintoak-innovates-in-indian-cbdc-space-with-digiledge-acquisition\"><strong>Benzinga</strong></a>\n</h4>\n</header>\n<article>\n<div>\n<p>Indian startup Mintoak, backed by global payments giant PayPal Holdings Inc. PYPL has acquired fintech player Digiledge, marking the first acquisition in the country’s developing central bank digital ...</p>\n<a href=\"https://www.benzinga.com/25/03/44100043/mintoak-innovates-in-indian-cbdc-space-with-digiledge-acquisition\">Source Link</a>\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0889565833.HKD","symbol_name":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","start_time":0,"source_url":"https://www.benzinga.com/25/03/44100043/mintoak-innovates-in-indian-cbdc-space-with-digiledge-acquisition","article_id":"2516613459","we_media_id":null,"thumbnails":["https://www.benzinga.com/files/images/story/2025/03/03/Indian-bank-note.jpeg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2516613459","pubTimestamp":1741056401,"columns":[],"sourceInfo":{"source_id":"Benzinga","name":"Benzinga Cypto"},"weMediaInfo":null,"summary":"Indian startup Mintoak, backed by global payments giant PayPal Holdings Inc. has acquired fintech player Digiledge, marking the first acquisition in the country&#39;s developing central bank digital currency space.","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","LU1868837300.USD":"CT (LUX) I AMERICAN FUND \"9\" (USD) ACC","LU0310800379.SGD":"FTIF - 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Reuters reported Monday.\nThe Reserve Bank of India, India’s central bank, launched a pilot for the e-rupee, a digital counterpart to physical currency, in Dec. 2022. Some of the biggest fintech players in the country, including Alphabet Inc. GOOG-backed Google Pay, Walmart Inc. WMT-backed PhonePe, and AmazonPay have expressed interest in joining the pilot project.\nThis acquisition comes at a time when the global stance on CBDCs is divided. Federal Reserve Chair Jerome Powell  has indicated that the U.S. central bank won’t develop a central bank digital currency under his watch during his testimony before the Senate Banking Committee.\nPhoto Courtesy: Shutterstock.com\nRead Next: \n\nElon Musk Labels Meme Coins Casino-Like: Tesla CEO Says ‘Don’t\n\nDisclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.GOOGAlphabet Inc$169.82-1.39%OverviewPYPLPayPal Holdings Inc$69.79-1.77%WMTWalmart Inc$97.25-1.38%Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"merge","news_rank":0,"symbols":[],"gpt_button":0}}}