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Mintoak has acquired Digiledge in India's first E-Rupee deal, valued at USD 3.5 million.

Banking & Finance | Dated: 06 Mar 2025

On March 3, 2025, Mintoak Innovations Private Limited, an Indian startup based in Mumbai (Maharashtra), and supported by PayPal and HDFC Bank (formerly Housing Development Finance Corporation Bank), acquired Digiledge, a company based in Bengaluru (Karnataka). This marks the first acquisition in the emerging Central Bank Digital Currency (CBDC) sector, valued at USD 3.5 million.

🎯 Key Highlights:

  • - The integration of Digiledge’s services will enable Mintoak’s partner banks, including HDFC Bank, Axis Bank (based in Mumbai, Maharashtra), and State Bank of India (SBI, also based in Mumbai), to offer better CBDC-related payment solutions to their customers.

💡 Other Important Facts:

  • (i) In December 2022, the Reserve Bank of India (RBI), based in Mumbai (Maharashtra), started a pilot program for the e-rupee, which is a digital alternative to physical currency. The program expanded in April 2024 to include payment firms, allowing companies like Mintoak to actively participate.
  • (ii) Mintoak aims to make digital payment processes simpler for merchant acquirers and support the growth of Small and Medium Enterprises (SMEs) by helping them access digital financial services.
  • (iii) In January 2025, CRED (based in Bengaluru, Karnataka) and MobiKwik (based in Gurugram, Haryana) became the first non-banking companies to offer India's CBDC, the e-Rupee (eRs).

📚 Test Your Knowledge:

Who has recently acquired Digiledge in India's first E-Rupee deal?

Correct Answer: Mintoak

🚀 Quick Recap: