Latest news with #PrashantGokarn
Yahoo
3 days ago
- Business
- Yahoo
PayMate and DigiAsia enter strategic partnership
B2B payment entity PayMate and Fintech-as-a-Service platform DigiAsia have forged a partnership, aimed at expanding fintech offerings across several regions. The collaboration focuses on embedded finance, digital settlements, and AI infrastructure, targeting India, Southeast Asia, and the Middle East. It will lead to the creation of a fintech ecosystem that caters to B2B payments, cross-border finance, stablecoin infrastructure, and GPU-powered AI services. DigiAsia will implement PayMate's enterprise card platform across Southeast Asia, while PayMate plans to use DigiAsia's existing foreign exchange licences and payment infrastructure to facilitate B2B transactions across the Asia-Pacific region. The partnership will also introduce a settlement system for B2B transactions that supports an array of digital currencies, including USDT, USDC, BTC, ETC, SOL, and TRX. These digital currencies will be convertible into major fiat currencies such as the US dollar, euro, Singapore dollar, and British pound. In addition, DigiAsia's technological assets, which include 5,120 NVIDIA GPUs, will be employed to establish a GPU-as-a-Service platform, addressing the AI processing needs of sectors such as financial services, telecommunications, and public services. This follows PayMate India's agreement to acquire Indonesian operations of DigiAsia (DigiAsia Bios) for $400m in September 2024. PayMate managing director and founder Ajay Adiseshann said: "This isn't just a strategic tie-up-it's a foundational step towards building a unified fintech and AI backbone across emerging markets." DigiAsia co-CEO Prashant Gokarn stated: "We're excited to deepen our collaboration with PayMate. This partnership accelerates our mission to scale digital financial access across high-growth economies." PayMate services span commercial cards, invoice financing, and cross-border payments, targeting the financial operations of enterprises and small to medium-sized enterprises (SMEs). DigiAsia Corp provides embedded finance APIs for payments, digital banking, and infrastructure compatible with cryptocurrencies. Digiasia Bios is equipped with four licences through its affiliates, enabling it to offer digital payment, P2P lending, remittances, and digital financial services. "PayMate and DigiAsia enter strategic partnership " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
21-05-2025
- Business
- Yahoo
Nasdaq-Listed DigiAsia Plans to Raise $100M for Bitcoin Buys
DigiAsia Corp (FAAS) plans to raise up to $100 million to seed a bitcoin treasury reserve (BTC), joining a growing list of publicly traded companies looking to diversify their corporate balance sheets with bitcoin. The announcement on Monday (which emphasized plans rather than executed actions) helped push DigiAsia's shares up 91% during regular trading to 36 cents, before pulling back 22% after hours. The stock is still down more than 50% year-to-date. The company said its board had approved a strategy to allocate up to 50% of future net profits toward BTC purchases and was 'actively exploring' a capital raise of up to $100 million, according to a press release. It also plans to pursue yield-generating strategies on its bitcoin holdings, including institutional lending and staking through regulated partners. 'We believe bitcoin represents a compelling long-term investment and a foundational layer for modern treasury diversification,' said Prashant Gokarn, Co-CEO of DigiAsia, in the release. The firm added that it was evaluating financing methods such as convertible notes and crypto-linked instruments to support the initiative. In an April update, DigiAsia reported $101 million in revenue for 2024, with projected earnings before interest and taxes of $12 million this year. Whether DigiAsia follows through on its BTC purchases remains to be seen. But the signal alone has been enough to give the fintech a short-term boost on Wall Street. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
