🇮🇳 Roundup: Crypto exchanges test peer-to-peer transactions

Startups in India, including UrbanPiper and Expertia AI, have raised at least US$25.2 million in disclosed funding today from international and local investors.

Here’s a snapshot of the fundraising:

Here’s some important tech news from India today:

Crypto exchanges test peer-to-peer transactions

With banks and payment firms in India being hesitant to process crypto asset transactions, the country’s crypto exchanges have been pushed to find different ways to keep their operations running.

Some firms have created a peer-to-peer (P2P) scheme, where buyers can directly transfer money to the seller’s bank account. When the money has been transferred, the crypto assets will also be sent to the buyer’s wallet.

Additionally, crypto users in India must also pay a 1% tax on all proceeds from crypto asset sales.

Property fintech firm Myre Capital to launch US$65 million fund

The company will launch its alternative investment fund (AIF) in July. It will also invest in A+ grade commercial real estate properties that allow investors to earn stable monthly rental income of 8% to 10%.

Founded in 2020 by Aryaman Vir, Myre Capital allows users to purchase fractional ownership of commercial real estate properties.

In the last 12 months, the firm has increased its user base by 10x to 30,000 investors, with assets under management of over US$23 million.

Follow the rest of our India coverage here.