Blockchain
India FinTech Forum concludes IFTA 2021 with focus on financial inclusion and emerging technologies

India FinTech Forum’s IFTA 2021 saw 34 innovative product demos over 3 days with the felicitation of Stockal as Fintech Startup of the Year and IDfy as Fintech Scaleup of the Year. IFTA 2021 saw the participation of senior representatives from Gujarat International Finance Tec-City (GIFT City) and Tamil Nadu Government. It is the longest-running fintech event in India, and this was the 6th consecutive year of celebrating innovation in the Fintech sector.
Meet the most innovative companies in fintech
The 4-month assessment process culminated with recognising the most innovative companies in a number of fintech and allied fields from 800+ applications. The assessment framework was developed and managed by Deloitte, and Perfios felicitated the winners. Over 40 industry leaders were part of the eminent Jury and 50+ Speakers shared their valuable insights.
Past winners of IFTA include well-known names like Simpl, Capital Float, ZestMoney and Valocity Global, and have cumulatively raised over USD 3 billion in funding till date.
Winner at IFTA 2021 |
|
Fintech Startup of the Year |
Stockal |
Fintech Rising Stars (Runners-up to Fintech Startup of the Year) |
BukuWarung, AccuraScan, Money View |
Fintech Scaleup of the Year |
IDfy |
Fintech Leader of the Year |
Ravi Kumar, Co-Founder and CEO, Upstox |
Woman Leader in Fintech |
Aarti Ramakrishnan, Co-Founder and COO, Crayon Data |
Most Innovative Fintech Product |
Pine Labs |
Best Fintech Consumer Lender |
Paisabazaar |
Best Fintech Business Lender |
InCred |
Best International Fintech in India |
MODIFI |
Best FinTech Ecosystem Partner |
Grameen Impact Ventures |
Most Innovative Bank of the Year |
IDFC FIRST Bank |
Financial Inclusion Initiative of the Year |
Jai Kisan |
Excellence in Payments |
Mswipe Technologies |
Best Use of AI in Fintech |
Marsview.ai |
Most Innovative Blockchain or Crypto Product |
Whrrl |
Best Innovation in RegTech |
Signzy |
Best Innovation in Wealth Management |
Stockal |
Best Technology Company for Fintech Solutions |
Zeta |
Most Innovative Neo Bank |
Open Financial Technologies |
Excellence in InsureTech |
Digit Insurance |
The list of winners is available at: www.indiafintech.com
Enablers for fintech growth
Fintech’s growing importance can be seen from Prime Minister Shri Narendra Modi’s participation in the upcoming fintech InFinity Forum organized by IFSCA and launch of Tamil Nadu’s FinTech Policy by Chief Minister Shri M K Stalin. Mr. Sandip Shah, Head- IFSC Dept, GIFT City informed the IFTA audience that GIFT City is the only location today in India that has been recognised and notified as an International Financial Services Centre (IFSC).
Ms. Pooja Kulkarni, IAS, MD and CEO, Guidance Tamil Nadu elaborated on the multifarious initiatives being taken under the Fintech Policy for fintech companies including a Fintech Governing Council under the Chairmanship of the Honourable Minister of Industries, development of a Fintech City with built-up space of 1 million sq.ft in Chennai, Neo-TIDEL Parks in Tier II and III cities, power infrastructure, connectivity, cybersecurity, disaster recovery centre at Trichy, funding avenues and reduced compliance burden.
Drivers of fintech growth in India
Companies including PayU, CashRich, Perfios, Huobi Global, KUDOS Finance, TransUnion CIBIL and Miami Fintech came together to power discussions on the opportunities for upcoming technologies, challenges and way forward to capitalise on the next 2-3 years. Mr. Jitendra Gupta, Founder and CEO, Jupiter and Advisory Committee Member of India FinTech Forum noted, “The India Stack has been game changing alongside Aadhaar. Government initiatives and regulatory sandbox for fintechs have been very helpful. Availability of capital in a vibrant ecosystem is one of the key drivers of fintech growth.”
Fintech companies in India are riding the global innovation wave despite the pandemic. This is supported by the number of unicorns in India that are fintech companies. Mr. Rajesh Kumar, MD and CEO, TransUnion CIBIL had a very positive outlook for growth of fintech companies, and said, “This is a dynamically evolving ecosystem where collaboration, competition and convergence exist in equal measures. Fintech sector players must take into consideration a very strong focus on data security norms, privacy laws and strong governance framework in their quest for growth.”
Upcoming innovation in global payments
Ms. Praveena Rai, COO, NPCI, noted that global payment systems were traditionally offered by large monolith institutions with payment infrastructure in various countries but now we have popular country-specific payment systems also. There is a need to look at how these payment systems can start operating together so that a network of payment systems can get created. The recently announced plan from the RBI and MAS to link UPI and Singapore’s PayNow will be useful. She pointed out, “There is a need to look at those payment solutions that can operate in an offline manner.” Global payments is likely to be a very significant revenue pool for fintech companies, given the current high cost of international transactions, and potential to bring more efficiency, transparency, and speed to the same. Mr. Mohit Gopal, SVP at PayU cautioned that vanilla payment products tend to have very low margins, so it is important to find other products to get those margins.
Mr. Vincent Lau, MD – International Operations, Huobi Global spoke about recent global trends such as NFT, gaming and metaverse, and how cryptocurrencies could allow unbanked people to earn, invest and transact.
Mr. Ramgopal Subramani, COO, Perfios noted that India FinTech Forum’s IFTA continues to be one event where you get to know not only what is happening in India but also globally. He said that it was inspiring to know that the future is bright in the hands of the startups that presented their fintech innovation.
Mr. Sougata Basu, Founder, CashRich and Executive Committee Member of India FinTech Forum, said, “IFTA 2021 gave us an opportunity to see some amazing innovation done by fintech firms during the year in spite of the challenges caused by the pandemic. Several fintech companies have created solutions for true financial inclusion using the power of technology.”
Blockchain
ONFA Fintech USA Partners with Metti Capital Funding to Accelerate Blockchain Banking and DeFi Expansion

ONFA Fintech USA – feat image
Blockchain
Blocks & Headlines: Today in Blockchain – May 16, 2025

A Pivotal Moment for Blockchain’s Many Frontiers
Today’s briefing arrives at a crossroads in blockchain’s evolution. From AI-driven Layer-1 grant programs to gamified resets in Web3, from supply-chain trust revolutions to exchange-driven token incentives, and high-stakes regulatory leadership shifts, the industry is charting new territory on multiple fronts. As builders, investors, and policymakers navigate this shifting terrain, five stories stand out for their potential to reshape blockchain’s trajectory:
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Lightchain Protocol AI unveils a $150,000 developer grant program to onboard top builders in AI × blockchain.
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Blockchain gaming experiences its lowest engagement of 2025, signaling a sector reset toward sustainability.
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Norwegian Seafood Council research highlights blockchain’s trust-building power in global supply chains.
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MEXC Exchange announces the Einstein (EIN) listing on July 20, 2025, buoyed by a $50 million rewards event.
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Summer Mersinger, a US CFTC commissioner, is tapped as CEO of the Blockchain Association, marking a pivotal regulatory turn.
In this op-ed–style briefing, we’ll unpack each development, explore its implications for blockchain, cryptocurrency, Web3, DeFi, and NFTs, and assess how these narratives intersect to define today’s momentum.
1. Lightchain Protocol AI’s $150K Grant: Catalyzing Decentralized Intelligence
What happened: On May 15, 2025, Lightchain Protocol AI—a Layer-1 blockchain optimized for AI workloads—launched its Developer Grant & Ecosystem Incentive Program, pledging up to $150,000 in total funding to on-board teams building dApps, explorers, wallets, analytics dashboards, DeFi protocols, NFT platforms, and AI-powered modules on its network. Grants are milestone-based (up to $5,000 per milestone), accompanied by technical support, co-marketing, and ecosystem visibility. Source: Bitcoin News
Why it matters: Lightchain’s move underscores the growing fusion of AI and blockchain. By allocating resources to builders at the intersection of these technologies, the protocol signals that the next wave of innovation will hinge on intelligent smart contracts, federated learning coordination, and on-chain decision-making. For developers, this grant lowers barriers to entry and emphasizes sustainable, value-driven growth over token speculation.
> “We’re seeking impactful projects that align with Lightchain AI’s goal of bridging AI and blockchain—everything from AI prediction markets to compute marketplaces.” > — Lightchain Protocol AI Core Team
Implications:
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DeFi & NFTs: Expect AI-augmented lending protocols and NFT platforms with dynamic metadata driven by on-chain models.
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Ecosystem Growth: Lightchain’s aggressive grant strategy may spur competitors (e.g., Ethereum layer-2s) to bolster their own builder incentives.
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Governance & Sustainability: The milestone-based approach aligns funding with tangible progress, a model DeFi DAOs may increasingly adopt for resource allocation.
Source: Bitcoin News
2. Blockchain Gaming’s 2025 Low: A “Reset” Toward Quality
What happened: According to Crypto.news, blockchain gaming saw daily active wallets dip to 4.8 million in April 2025—a 10% month-over-month decline and the lowest point of the year for Web3 gaming. Share of the DApp ecosystem for gaming fell to 21%, now tied with DeFi, while AI projects surged to 16% of on-chain activity. Funding also plunged nearly 70% from March to $21 million in April, though Arbitrum Gaming Ventures deployed $10 million from its $200 million fund to support titles like Wildcard, XAI Network, and Proof of Play. Source: Crypto.news
> “Capital is harder to secure, but that’s not necessarily bad. Weak projects are falling away, and funds are flowing into builders laying the groundwork for the next generation of blockchain games.” > — Sara Gherghelas, DappRadar Analyst
Why it matters: The downturn reflects a market recalibration from token-centric models toward user engagement, game mechanics, and interoperability—key for mainstream adoption. High-profile missteps (e.g., Square Enix shelving Symbiogenesis, Sega’s experimental launch of KAI: Battle of Three Kingdoms) contrast with enduring partnerships like Ubisoft + Immutable’s Might & Magic card game.
Implications:
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DeFi and Gaming Convergence: As DeFi’s share remains steady, expect crossover innovations (e.g., on-chain staking integrated into gameplay).
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Investor Focus: Sustainable tokenomics over ‘yin-yang’ hype; capital will favor projects with robust retention metrics and revenue models.
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NFT Utility: Gaming’s reset may accelerate evolution of NFTs beyond collectibles into dynamic, utility-driven assets.
Source: Crypto.news
3. Deepening Trust in Seafood with Blockchain Transparency
What happened: Perishable News reported on May 15, 2025, that the Norwegian Seafood Council found 89% of consumers desire more information on seafood sourcing. Producers are piloting decentralized blockchain solutions to trace products “sea to shop floor,” sharing immutable data on species, harvest location, handling, and quality checks to reassure ethically conscious buyers. Source: Perishable News
Why it matters: While most blockchain discourse orbits finance and gaming, supply-chain applications represent a mass-market use case for Web3. Immutable provenance data combats fraud, illegal fishing, and mislabelling—an urgent concern as global seafood consumption climbs.
Implications:
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Consumer Engagement: Brands adopting on-chain traceability can premium-price products by verifying sustainability standards, fair labor practices, and environmental impact.
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DeFi Integration: Tokenized incentives could reward ethical producers or create staking mechanisms for supply-chain stakeholders.
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Broader Web3 Adoption: Success in seafood may catalyze blockchain tracking in agriculture, pharmaceuticals, and luxury goods.
Source: Perishable News
4. MEXC’s Einstein (EIN) Listing & $50 Million Rewards Event
What happened: PR Newswire announced on May 16, 2025, that MEXC, a leading global crypto exchange, will list the Einstein (EIN) token on July 20, 2025 (UTC). To celebrate, MEXC has launched a $50 million EIN rewards event, offering incentives through trading competitions, referral bonuses, staking pools, and community tasks. Source: PR Newswire
Why it matters: Large-scale rewards events can drive short-term volume spikes and social engagement, but they also test community loyalty and tokenomics viability. EIN’s positioning as a “science-minded” utility token in educational and research partnerships adds thematic depth to what might otherwise be a routine exchange listing.
Implications:
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Trading & Community Growth: Expect surges in trading volume, potentially setting new ATHs for MEXC’s platform metrics.
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DeFi Crossplay: EIN holders may see integration into DeFi protocols for governance, liquidity mining, and educational grants.
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Regulatory Watch: Large-scale token events continue to attract scrutiny over securities classifications and promotional compliance.
Source: PR Newswire
5. Summer Mersinger Becomes CEO of the Blockchain Association
What happened: Gadgets360 reported that on May 14, 2025, the Blockchain Association confirmed that Summer Mersinger, currently a commissioner at the US Commodity Futures Trading Commission (CFTC), will step down on May 30 and begin as the Association’s CEO on June 2. Mersinger has championed balanced, consumer-focused digital asset rules and will spearhead advocacy for fit-for-purpose legislation alongside US regulators. Source: Gadgets360
> “Summer’s knowledge of how elected officials think through complex questions will be vital as we await next steps on stablecoin and market structure bills.” > — Blockchain Association
Why it matters: The appointment bridges regulatory expertise and industry advocacy at a moment when Congress is eyeing stablecoin frameworks and broader crypto oversight. Mersinger’s shift signals a blurring of lines between government and industry, with potential to accelerate law-making and foster public-private collaboration.
Implications:
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Policy Acceleration: Expect renewed momentum on stablecoin legislation, DeFi disclosures, and market-structure rules by August 2025, per administration timelines.
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Industry Confidence: Firms may feel emboldened to innovate under clearer regulatory signals, supporting growth in DeFi, NFT marketplaces, and tokenized asset offerings.
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Global Alignment: US-led regulatory frameworks often influence EU and APAC regimes—this leadership change could ripple through the international policy landscape.
Source: Gadgets360
Conclusion: Five Threads Weaving Tomorrow’s Blockchain Fabric
Today’s headlines paint a multifaceted portrait of blockchain’s ongoing maturation:
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Ecosystem Incentives: Grant programs like Lightchain’s signal a builder-first ethos, turbocharging AI × blockchain synergy.
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Quality Over Hype: Gaming’s dip reflects a necessary market reset, steering capital to sustainable, engagement-driven projects.
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Real-World Utility: Supply-chain transparency demonstrates blockchain’s power beyond finance, enhancing consumer trust.
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Tokenomics in Motion: Exchange listings and rewards events underscore the ever-evolving interplay between liquidity, community, and utility.
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Regulatory Convergence: Leadership moves like Mersinger’s appointment highlight the tightening feedback loop between policymakers and the Web3 sector.
As blockchain, cryptocurrency, Web3, DeFi, and NFTs continue to intersect, today’s developments underscore a pivotal shift: the industry is moving from speculative frontiers to pragmatic, real-world applications—backed by funding, governance, and policy frameworks that prioritize longevity and trust. Keep these threads in mind as we watch the next chapters unfold.
The post Blocks & Headlines: Today in Blockchain – May 16, 2025 appeared first on News, Events, Advertising Options.
Blockchain
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