Mintoak Leads the Charge: $3.5M E-Rupee Deal Accelerates India's Digital Currency Journey

In a historic deal, PayPal-funded Mintoak has bought Digiledge for around $3.5 million, India's first major transaction in the central bank digital currency (CBDC) space. The strategic buy will allow Mintoak's partner banks such as HDFC Bank, Axis Bank, and SBI to provide improved e-rupee payment solutions to their customers. The agreement is announced as other prominent payment systems such as Google Pay, PhonePe, and Amazon Pay are also vying to be part of the Reserve Bank of India's pilot program for digital currency, which could mark an e-rupee adoption and transaction boom in the nation.
Source: Reuters, as published by US News on March 3, 2025