Fintech Daily Briefing

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The following is the Fintech Daily Information Briefing on [April 08, 2021] recommended by And this article belongs to the classification: Fintech Daily Briefing.

[1]. Plaid, a financial technology software service platform, received $425 million in round D financing

On April 7, 2021, plaid, a financial technology start-up, announced that it had won US $425 million in round D financing, with a platform valuation of US $13.4 billion. Plaid was founded in 2012, mainly through its API products to help users associate their bank accounts with financial technology applications such as venmo, Robinhood, coinbase and acorns, and share information and data. In December 2018, plaid announced the completion of a $250 million round C financing led by Mary Meeker, the queen of the Internet. At the beginning of 2019, plaid was also selected as one of the “top 10 Unicorn enterprises in Silicon Valley in 2018” by Silicon Valley Business Journal. In January 2020, payment giant visa planned to buy Plaid for $5.3 billion. In November of the same year, the U.S. Department of Justice filed an antitrust lawsuit on this transaction. On January 12, 2021, the U.S. Department of Justice announced that visa and plaid had withdrawn from the merger plan. Foreign media analysis pointed out that the U.S. Department of justice’s victory in the case of visa’s acquisition of plaid may lay the foundation for a series of subsequent anti-monopoly law enforcement activities.

[2]. The Bank of Thailand initiated consultation on retail CBDC

On April 2, 2021, vachira aromdee, head of the Financial Markets Department of the Bank of Thailand, revealed that the Bank of Thailand is developing retail CBDC. The role and status of retail CBDC is equivalent to cash, which can be used for a variety of online and offline financial transactions. In addition, due to its portability, retail CBDC has greater application potential in other innovative financial services. The purpose of exploring retail CBDC is to provide Thai people with safer and more convenient financial services, improve the operation efficiency of social financial infrastructure, and promote Thailand’s digital reform. To this end, the Bank of Thailand has released a special report entitled “the way forward for retail central bank digital currency (CBDC) in Thailand”, and hopes that the public and private sectors will actively make suggestions and suggestions, and submit opinions and suggestions before June 15, 2021.

[3]. Credit card rebate platform cred raised 215 million US dollars, adding another member to Indian Unicorn start-ups

On April 6, 2021, cred, a financial technology venture headquartered in Bangalore, India, announced that it would obtain US $215 million in round D financing. This financing is led by Falcon edge capital and coat management LLP, and participated by insight partners, DST global, RTP global, tiger global, greenoaks capital, dragoner investment group and Sofina. Cred, founded two and a half years ago, mainly provides rebate services for member users who pay credit card bills through its platform. After the completion of this financing, cred platform’s valuation has reached US $2.2 billion, becoming another Unicorn venture in India.

[4]. The European Commission launched the “start up national standards” program

Recently, the European Commission launched a program called “startup nations standard” (SNS) in the hope that member countries will introduce more “entrepreneurship friendly” policies such as visa, ownership structure, enterprise establishment and regulatory policies, so as to promote the development of innovation industry in the EU region. It is reported that the initiative is not compulsory, and about 25 countries have signed into it.

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