Binance’s India comeback; D2C brands spend big for q-commerce presence
ETtech.com -

Happy Thursday! Barred crypto exchange Binance is set to restart ops in India. This and more in today’s ETtech Morning Dispatch.Also in the letter:■ KYC spoiler for payment firms■ ETtech Done Deals■ Musk to meet spacetech foundersBinance coins a new phase in India 109386794Cryptocurrency giant Binance, banned by the central government in January, is seeking a return by registering with the Financial Intelligence Unit (FIU) and paying a penalty of up to $2 million, sources familiar with the...

In related news

  • Binance India: Binance to restart operations in India as compliant FIU-registered entity

    Binance, the world’s largest cryptocurrency exchange that was banned by the government in January, is poised to return to India by paying a penalty of about $2 million, people aware of the developments told ET. The crypto exchange will come back as an entity registered with the Financial Intelligence Unit (FIU) of the finance ministry, they added. FIU is tasked with oversight of trade in virtual digital assets (VDA). Binance will comply with all applicable laws, including the...
  • D2C brands cough up 30-45% commission for a spot on quick-commerce platforms

    As the demand for space on quick-commerce platforms skyrockets, niche direct-to-commerce (D2C) firms in segments like fast moving consumer goods, beauty and personal care, and health and fitness are agreeing to pay a 30-45% commission on sales, besides shelling out on advertising and discounting on the apps.This is in stark contrast to the 10-20% commission that large, more established, FMCG companies pay quick-commerce companies like Blinkit, Zepto and Swiggy Instamart, reflecting the intense...
  • Quick-commerce grows beyond grocery; Tribe Capital’s latest India bet

    Happy Friday! Quick-commerce platforms like Zepto, Swiggy’s Instamart, and Zomato-owned Blinkit are seeing a surge in sales for non-grocery items as they take on ecommerce rivals. This and more in today’s ETtech Morning Dispatch.Also in the letter:■ Apple users hit by spyware attack■ VC Lumikai eyes 10-12 deals■ Explainer: Google's Axion data centre processors Non-grocery products deliver sales growth for quick-commerce 109230475Quick-commerce platforms like Zepto, Swiggy’s Instamart and...