India's Leading Fin-tech PayTM may Join Crypto Space
Paytm is a leading fintech company in India and it provides various financial services. Be it bill payment, shopping, credit services, and even stocks trading, its all available in Paytm and this one app is a kind of one-stop-shop for all money-related services. I use this app for many services that I use like bill payment and credit card payment. Its easy to use and convenient and best of all it offers these services for free and there is no hidden charge for using their services.
Paytm is also preparing for its IPO which is going to be the biggest ever in India and since they huge user base so its expected that the IPO will be highly over-subscribed. The user base plays a very important role in the company valuation and Paytm is used across the country. This upcoming IPO is scheduled to get launched in mid of his month and its value will be approx 2.5 billion USD which is the highest ever in India so far. LIC is another company planning for IPO and that could be bigger than Paytm but as of its leading the segment.
Paytm prepares for public subscriptions to its 183 billion-rupee ($2.5 billion) initial public offering, after selling almost half to anchor investors. The listing is expected in mid-November.
Now there is another interesting update that Paytm might enter in crypto and will offer crypto services if the Indian government legalizes the crypto. Now we can say that there are so many things in process and dependent upon Indian crypto regulation. Crypto in India this time is in the grey state as its neither legal nor illegal which means we can trade or hold but govt is yet to clear its side. Although there have been talks that the bill is ready to be tabled in parliament soon and its supporting crypto regulation. As of today, we don't know howmuch it will take and it seems that this is unlikely to happen this year. Covid pandemic has also been one of the bottlenecks in this because govt was involved in broad vaccination which has taken the time and resources.
Since Paytm is already one of the licensed stock trading exchanges and if they offer crypto services like trading or holding or even the same services that other crypto exchanges are offering.
Paytm, India’s digital payments pioneer, would consider Bitcoin offerings if the nation’s authorities removed regulatory uncertainty surrounding the adoption of cryptocurrencies.
Undoubtedly Paytm is a pioneer in digital payments and crypto is also an example of technological advancement. Paytm has quite a big user base across the country and its counting so if they start offering crypto services then it will help the segment to get many more people and this is surely very good for the Indian crypto community. Although existing exchanges are doing well for new users onboarding and if more companies like Paytm join the space then things will grow and improve significantly.
Crypto is a growing space so sooner or later it will happen but if govt clears the regulation part soon then it will be good for crypto because it will speed up the growth and bring much innovation in place. I look forward to seeing much more happening in the Indian crypto space and hope govt does its part soon.
Thank you so much Stay Safe
Posted Using LeoFinance Beta
