Fintech Daily Briefing

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The following is the Fintech Daily Information Briefing on [February 02, 2021] recommended by And this article belongs to the classification: Fintech Daily Briefing.

[1]. Lending Club officially completes acquisition of radius digital bank

On February 1, 2021, lending club, an online lending platform, announced the formal completion of its acquisition of radius bank. In February 2020, lending club first proposed a plan to acquire radius bank for us $185 million. On December 30, 2020, the U.S. Office of the Comptroller of currency (OCC) released the news and approved the transaction application. Nowadays, more and more financial technology enterprises hope to become banks by applying for licenses, while lending club has found a new way to become the first financial technology institution successfully transformed by purchasing digital banks.

[2]. Robinhood, an online stock trading platform, raised $3.4 billion

On February 1, 2021, Robinhood, an online stock trading platform, announced a large amount of financing of $3.4 billion, including $1 billion announced on January 29. This financing is led by rabbit capital and participated by existing investment institutions such as ICONIQ capital, Andreessen Horowitz, Sequoia, Index Ventures and NEA. In the future, Robin Hood will use financing to continue to increase investment in the popularization of financial literacy, so that more people can understand and enjoy the financial system services.

[3]. The first phase of Swiss encryption and blockchain regulatory framework has come into effect

On February 1, 2021, the first phase of the Swiss blockchain act covering corporate reform will come into effect. The implementation of the new regulatory model will help to improve the rapidly developing areas of cryptocurrency and blockchain in Switzerland. As early as September 2020, the parliament passed an expanded regulatory framework for encryption and blockchain technology. The second phase of the Swiss blockchain law, which is expected to come into effect this summer, will provide legal support for the operation of encrypted transactions.

[4]. Artificial intelligence and data analysis platform databricks completed $1 billion g round financing

On February 1, 2021, the San Francisco based artificial intelligence and data analysis platform, databricks, announced the completion of the $1 billion g round of financing. This financing is led by Franklin Templeton, and participated by many new strategic investment institutions and existing investment institutions, such as Canada Pension Plan Investment Committee, AWS, capital g, salesforce ventures, Microsoft, Andreessen Horowitz, alkeon capital management, tiger global management, etc. After the completion of this financing, the accumulated financing amount of databricks has reached nearly $1.9 billion, and the platform valuation has reached $28 billion.

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