India

On the same day, PhonePe, an Indian e-payment and digital wallet company, received another $350 million in funding led by Flipkart's parent company Walmart, with participation from Tencent and Tiger Global. In the $350 million round, Walmart invested a total of $283.5 million, Tencent invested $50 million and Tiger Global participated with $16.5 million.

Data from VCC Edge, an Indian data intelligence platform, shows that the Indian crypto and blockchain industry has closed 16 deals through venture capital firms so far this year, totaling more than $627 million, 14 times the amount of last year. Last year, 10 deals were reportedly struck for a total of $44 million.

Wang Haifeng analyzed to Blockchain Daily that there seems to be a shift in the Indian government's attitude towards cryptocurrencies and blockchain, from the previous total ban on bitcoin to considering bitcoin as an asset class, which could mean that the regulatory attitude is turning moderate and the blockchain and cryptocurrency market in India has the premise to grow.

Local policy wavering