Fintech Daily Briefing

Fintech Daily Information Briefing on [January 20, 2021]

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The following is the Fintech Daily Information Briefing on [January 20, 2021] recommended by recordtrend.com. And this article belongs to the classification: Fintech Daily Briefing.

[1]. Lendingclub’s acquisition of radius bank officially approved

On January 19, 2021, lending club, an American P2P platform, announced that its application for acquiring radius bank was officially approved, and the relevant transaction is expected to be completed before and after February 1. 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]. The Bank of France successfully completed the CBDC trial and settled 2 million euro simulated fund shares

On January 19, 2021, the Bank of France announced that it had successfully conducted a central bank digital currency (CBDC) test. It is reported that the trial started on December 17, 2020, and investors used CBDC to buy and sell a simulated share worth 2 million euros (2.4 million US dollars). The pilot was conducted using distributed ledger technology provided by setl, a regulated blockchain service provider based in the UK. Setl’s iznez recording platform is used to track fund share movements.

[3]. UNIQLO pay to be launched

On January 19, 2021, UNIQLO pay, a subsidiary of fast retailing group, a Japanese retail giant, announced the launch of “UNIQLO pay” jointly developed with Sumitomo Mitsui bank, and officially set foot in the smartphone settlement service. Users can bind a bank account or credit card on UNIQLO app and show the QR code at the checkout desk to complete the payment. Previously, UNIQLO’s counter electronic settlement used the services of other companies, and the use of its own app payment will help UNIQLO more easily collect purchase records and improve the efficiency of commodity planning, production and sales. The app can be used in almost all stores (about 800) of UNIQLO in Japan. In the future, we will also discuss the e-commerce website and sister brand Gu applied to express. At present, Japan’s largest mobile payment operator is “paypay” under Softbank group, with more than 35 million users.

[4]. Arbol, the US insurance technology platform, received US $7 million in round a financing

On January 19, 2021, arbol, an insurance technology platform in the United States, announced the acquisition of US $7 million in round a financing, with investors including finance finance LLC, space capital and Mubadala capital ventures. Founded in 2018, arbol improves the efficiency of external risk prediction including unexpected weather through big data, machine learning and smart contracts, providing risk protection for user organizations.

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