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MahaKumbh signaled India’s readiness for the metaverse

Opinion by: Shubham Kukrety, co-founder and CEO at QuoteIt

Strange sights were seen as India recently concluded MahaKumbh, a Hindu congregation that occurs once every 144 years.

Every day, a man took dips at Sangam — the triple confluence of rivers Ganga, Yamuna and Sarasvati — with several passport-sized photographs offering “Digital Snan,” symbolizing digital nectar baths. A nine-acre camp offered people a glimpse of the Hindu religion since the beginning of time. Several families received a 360-degree live virtual MahaKumbh tour with a VR box and packaged pure Sangam water at their homes.

These are some of the sights that were seen for the first time in MahaKumbh’s known history. But all of it brings us to a fascinating question: Does the fusion of tech and tradition help us peek into India’s future of the metaverse? Indeed.

Adopting technology religiously

India’s approach to technology has always been unique. The

What are crypto payment gateways, and how do they work?

Key takeaways

Crypto payment gateways enable businesses to accept cryptocurrency payments from customers.

They act as intermediaries, converting crypto payments into the business’s preferred currency (crypto or fiat).

Crypto payment gateways reduce transaction fees compared to traditional banking systems and provide access to a global customer base.

These gateways leverage blockchain technology to offer secure and faster transactions with fewer intermediaries, enhancing transparency and reducing the risk of fraud.

The cryptocurrency industry faces significant challenges, particularly in the area of seamless conversion between digital assets and fiat currencies. This issue makes it difficult for businesses and users to adopt cryptocurrencies for everyday transactions.

Crypto payment gateways address this need by simplifying the process of converting digital currencies into fiat, enabling smooth and efficient transactions.

This article explores what crypto payment gateways are, how these gateways work, and their pros and cons.

Cryptocurrency payment gateways, explained

A cryptocurrency payment gateway is a digital transaction facilitator

Is Bitcoin’s future in circular economies or national reserves?

Bitcoin is seeing unprecedented adoption with the US establishing a “strategic Bitcoin reserve,” but some prominent Bitcoin advocates believe the project is getting away from its roots.

Earlier this year, Jack Dorsey, a Bitcoin proponent and founder of Twitter, said that he believed if Bitcoin becomes just a form of “digital gold” then the project has failed. He said that a national Bitcoin reserve may be “good for the nation-state, but I don’t necessarily know if it’s good for Bitcoin.”

Dorsey contended that Bitcoin needs to return to the white paper and work on becoming a form of peer-to-peer cash that can be transacted globally if it wants to become a success.

Around the world, a number of “circular Bitcoin economies” have been working at just that — developing local economies that use Bitcoin as currency in an attempt to showcase its viability and what the future of

Ripple, Chipper Cash partner for faster and cheaper African remittances

Ripple has partnered with African payment infrastructure provider Chipper Cash to support crypto-enabled cross-border payments.

According to a March 27 announcement, Chipper Cash will use Ripple Payments for its cross-border transactions as part of the deal. The companies said the partnership is designed to offer faster, cheaper and more efficient settlements.

Chipper Cash. Source: Chipper Cash official website

Reece Merrick, Ripple’s managing director for Middle East and Africa, said that the partnership is an important step in the firm’s expansion in the region. He also highlighted that African consumers and businesses “are increasingly recognizing the potential of blockchain technology.”

The collaboration comes as blockchain adoption continues to grow across Africa, particularly in the remittance and payments sectors. A recent report from Chainalysis found that stablecoins now make

Tether acquires 30% stake in Italian media company Be Water

Major stablecoin issuer, Tether, invested 10 million euros ($10.8 million) in Italian media company Be Water.

According to a March 27 announcement, Tether acquired a 30.4% stake in Rome-based Media Water. Tether CEO Paolo Ardoino said the company recognized “the importance of independent media in shaping informed societies.”

“Our investment in Be Water aligns with our vision to support technology-driven innovation across industries,” Ardoino added.

According to its LinkedIn page, Be Water is an Italian producer and distributor of films, documentaries and series that address modern social issues as well as journalism.

The company’s executive chairman, Guido Maria Brera, said that the firm’s objective is to be “capable of producing and distributing content across multiple platforms — podcasting, film, television and live events —

BlackRock Bitcoin ETP ‘key’ for EU adoption despite low inflow expectations

BlackRock’s new European Bitcoin exchange-traded product (ETP) is a major step for Bitcoin’s institutional adoption in Europe, though analysts expect lower inflows than its US counterpart.

The iShares Bitcoin ETP, managed by the world’s largest asset manager, began trading on March 25 on Xetra, Euronext Amsterdam and Euronext Paris.

While the launch marks a significant step in bringing Bitcoin (BTC) exposure to European investors, analysts at Bitfinex said the product is unlikely to match the success of the US-based iShares Bitcoin Trust exchange-traded fund (ETF), which has seen strong demand from institutional and retail investors.

SiShares Bitcoin ETP listings. Source: BlackRock

“The US spot Bitcoin ETFs benefited from pent-up institutional demand, a deep capital market and significant retail investor participation,” Bitfinex analysts told Cointelegraph, adding:

“The presence of a BlackRock Bitcoin ETP in Europe still represents progress in terms of

US crypto policy: Tax breaks, SEC cases dropped, Bitcoin Reserve plans unfold

In the rapidly evolving world of cryptocurrency, regulatory shifts, legal battles and groundbreaking policy proposals are shaping the industry’s future.

The premiere episode of The Clear Crypto Podcast by Cointelegraph and StarkWare brings in a legal expert specializing in the crypto industry to help shed light on the state of crypto regulation in the US, ongoing enforcement actions and the growing role of Bitcoin in government reserves.

Crypto regulation in flux

With the Securities and Exchange Commission (SEC) under a transformed leadership in the Trump administration, the regulatory landscape is undergoing significant changes. High-profile lawsuits against Coinbase, Consensys, Binance and Tron have either been settled or dropped, signaling a new chapter for the industry.

Cointelegraph head of multimedia Gareth Jenkinson highlighted the importance of these shifts, noting how enforcement actions have played a pivotal role in shaping the industry’s approach to compliance.

He recalled past conversations with Consensys CEO and Ethereum co-founder Joe Lubin saying:

“If

‘Stablecoin multiverse’ begins: Tether CEO Paolo Ardoino

Paolo Ardoino, CEO of stablecoin issuer Tether, said the industry has just entered a new era, marked by an influx of stablecoin solutions from both private companies and governments.

In a March 27 X thread, Ardoino said the crypto industry just entered the “stablecoin multiverse” era, where multiple stablecoins are launching to meet growing global demand.

Source: Paolo Adroino

Not everyone agrees with the assessment

However, Slava Demchuk, CEO of crypto compliance firm AMLBot, told Cointelegraph that he disagrees “with the premise that there are hundreds of stablecoins launched by companies and governments.”

He said the claims are an exaggeration and highlighted that “launching a stablecoin is a complex and resource-intensive process,” made even more involved by the European Union’s Markets in Crypto-Assets Regulation (MiCA) framework:

“MiCA, for instance, imposes stringent requirements — particularly

Over 400 South Korean officials disclose $9.8M in crypto holdings

South Korea’s Ethics Commission revealed that high-ranking public officials in the country hold an average of 35.1 million won ($24,000) in crypto assets.

On March 27, the country’s Ethics Commission for Government Officials reportedly disclosed that more than 20% of the surveyed public officials hold 14.4 billion won ($9.8 million) in crypto. This means 411 of the 2,047 officials subjected to the country’s disclosure requirements hold crypto assets.

The highest amount disclosed was 1.76 billion won ($1.2 million) belonging to Seoul City Councilor Kim Hye-young.

The officials held different crypto assets, including Bitcoin (BTC), Ether (ETH), XRP (XRP), Dogecoin (DOGE), Luna Classic (LUNC) and others.

South Korean public officials disclosed crypto holdings

The disclosure of public officials’ crypto assets follows calls for transparency from its prime minister.

In 2023, South

Most EU banks fail to meet rising crypto investor demand — Survey

European banks and financial institutions may be significantly underestimating the demand for cryptocurrency services, with fewer than one in five offering digital asset products, according to a new survey by crypto investment platform Bitpanda.

The study surveyed 10,000 retail and business investors across 13 European countries and found that more than 40% of business investors already hold cryptocurrencies, with another 18% planning to invest in the near future.

Yet, only 19% of surveyed financial institutions said their clients showed strong demand for crypto products — suggesting a 30% gap between actual investor adoption and perceived interest.

Crypto investments of EU private investors by country. Source: Bitpanda

Moreover, only 19% of surveyed European financial institutions are offering crypto services, while over 80% of institutions acknowledge crypto’s growing importance.

Still, some European banks are recognizing the growing