Binance APAC Chief on crypto regulation; Inside Pitney Bowes’ India GCC

Hello,

Netflix will be the proud owner of Hollywood’s oldest asset—Warner Bros Discovery.

The streaming giant will buy WBD’s TV, film studios, and streaming division for a whopping $72 billion. The transaction is comprised of cash and stock and is valued at $27.75 per WBD share.

With this blockbuster deal, Netflix will acquire Warner Bros.’s film studio and streaming service, HBO Max. WBD will move forward with its previously planned spin-out of Discovery Global, which includes its massive portfolio of pay TV networks, such as TNT and CNN.

Moving on, it’s been four days, and travellers across India are dealing with a massive flight disruption crisis. On Friday, IndiGo Airlines cancelled around 500 flights, including all departures from New Delhi, prompting the government to announce special relief measures for the country's largest airline.

The issue stemmed when IndiGo failed to plan ahead of a November 1 deadline for the new government measures, which asked for stricter regulations limiting pilot flying times and placing tighter restrictions on their operation of night-time flights.

One of the major casualties of this crisis has been Indian weddings!

In fact, after their IndiGo flight was cancelled, a newlywed couple appeared for their wedding reception on a large screen via video conferencing, and apologised to dozens of guests who had already reached the venue!

In today’s newsletter, we will talk about 

• Binance APAC Chief on crypto regulation
• Inside Pitney Bowes’ India GCC
• PhonePe's Pincode winds down B2C q-com ops

Here’s your trivia for today: Which early-2000s plush toys with built-in secret passwords for an online world became a must-have Christmas gift?

Cryptocurrency

Binance APAC Chief on crypto regulation

India's crypto industry is at a turning point. While millions of Indians are using digital assets, the country's regulatory framework is still unclear. For SB Seker, Head of APAC at Binance, the window for proactive regulation is narrowing.

“Too much delay is also not a good idea,” he says, noting that prolonged uncertainty risks are pushing users toward unregulated offshore platforms and decentralised protocols that offer easier onboarding.

Key takeaways:

• Before joining Binance, Seker worked as a litigator in Australia and spent years as a central banking lawyer at the Monetary Authority of Singapore, giving him first-hand experience in financial regulation.
• Speaking to YourStory on the sidelines of Binance Blockchain Week in Dubai, Seker spoke about why India's policymakers should treat crypto as a systemically important component of financial services, and outlined the opportunities that clear regulations could unlock for Indian entrepreneurs and developers.
• “India now has the luxury of second-mover advantage: it can observe what worked, what failed, and what can be adapted. India can pick the model that aligns with its aspirations,” he said.

<Top Funding Deals of the Week>

Startup: Apraava Energy

Amount: $92M

Round: Undisclosed

Startup: Ultraviolette

Amount: $45M

Round: Ongoing Series E

Startup: StockGro

Amount: Rs 150 Cr

Round: Series B

Interview

Inside Pitney Bowes’ India GCC

Pitney Bowes, the US-headquartered technology company that provides digital solutions and technology products for shipping and mailing, has its largest global capability centre (GCC) in India.

In an interaction with EnterpriseStory, Pankaj Sachdeva, VP - Data Science & Analytics and MD, India Innovation at Pitney Bowes, talks about the importance of the company’s technology centre in India.

Growth:

• The India centre of Pitney Bowes plays a critical role in both technology development and operational efficiency.
• The GCC is building deep domain knowledge and technology leadership, while catering to the requirements of its clients in India.
• According to Sachdeva, the team in India works on predictive analytics, digital platforms, and security solutions that are integrated into products used worldwide.

Ecommerce

PhonePe's Pincode winds down B2C q-com ops

Fintech platform PhonePe on Friday said its subsidiary Pincode is winding down its consumer-facing quick commerce operations, as it looks to focus exclusively on expanding its B2B business solutions for offline shops.

PhonePe launched Pincode—a dedicated hyperlocal consumer app linked to the Open Network For Digital Commerce (ONDC) protocol—in April 2023, at the height of consumer and investor interest in quick commerce.

News & updates

• IPO: Meesho saw its IPO oversubscribed 79.2 times on the final day of subscription, driven by a late surge in demand from institutional investors. By market close, total bids stood at about 2,196 crore shares against 27.7 crore shares on offer.
• Rate cut: The Reserve Bank of India cut its key repo rate by 25 basis points and left the door open for further easing as it took steps to boost banking-sector liquidity by up to $16 billion to support a "goldilocks" economy.
• Fine: Elon Musk's X has been fined €120 million by the EU over its blue tick badges, despite US warnings about doing so. The European Commission said by allowing people to pay for a blue verified check mark on their profile, the platform "deceives users" because the firm is not "meaningfully verifying" who is behind the account.

Which early-2000s plush toys with built-in secret passwords for an online world became a must-have Christmas gift?

Answer: Webkinz.

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