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Facing funding crunch due to crypto ban, Unocoin executes mass layoffs

Tuesday, April 16, 2019, 4:54 PM

Bengaluru-based cryptocurrency startup Unocoin has fired nearly 86% of its staff, retaining only 14 employees in the team from its peak of around 100 employees in February 2018. Unocoin Co-founders Harish Bv and Sathvik Vishwanath were arrested in October 2018 for illegally setting up a Bitcoin kiosk (ATM). The RBI had prohibited Indian banks from crypto-related trading last year.
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Facebook Is Developing a Cryptocurrency for WhatsApp Transfers

Friday, December 21, 2018, 2:59 PM

Facebook is working on making a cryptocurrency that will let users transfer money on its WhatsApp messaging app, focusing first on the remittances market in India, according to people familiar with the matter. The company is developing a stablecoin - a type of digital currency pegged to the US dollar - to minimise volatility, said the source.
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Facebook developing cryptocurrency for WhatsApp transfers: Report

Friday, December 21, 2018, 8:39 AM

Facebook Inc. is working on making a cryptocurrency that will let users transfer money on its WhatsApp messaging app, focusing first on the remittances market in India, according to people familiar with the matter. The company is developing a stablecoin a type of digital currency pegged to US dollar to minimize volatility, said the people, who asked not to be identified discussing internal plans.

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