Indian startup Mintoak, backed by PayPal and HDFC Bank, has made its first acquisition in the central bank digital currency (CBDC) space by acquiring Digiledge for approximately $3.5 million. Digiledge specializes in CBDC and bill payments, and with this acquisition, Mintoak's partner banks can offer payment solutions in India's CBDC, known as the e-rupee. The Reserve Bank of India launched the e-rupee pilot in December 2022, and while adoption has been slow, reaching 1 million retail transactions by June 2024, the future of the digital currency initiative remains uncertain.



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