Fintech Daily Briefing

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The following is the Fintech Daily Information Briefing on [July 13, 2021] recommended by And this article belongs to the classification: Fintech Daily Briefing.

[1]. Paydazz, Indonesia’s financial technology company, obtained digital banking license

According to tech in Asia, paybuzz said it had obtained a digital banking license from the Bank of Indonesia. This license can help financial companies expand their business scope in Indonesia’s population without bank accounts. It is reported that payfuzz claims to operate Indonesia’s largest banking agency network and provide banking services to about 180 million rural residents without bank accounts.

[2]. The Bank of Korea will launch the CBDC simulation research project in August with a budget of US $4.3 million

South Korea’s central bank announced on the 12th that three companies, ground x, line plus and SK holdings, had submitted applications for CBDC simulation research projects by the deadline. The Bank of Korea will choose one of these companies through technical evaluation, and then start the research next month. Simulation is divided into two stages. The first stage focuses on creating simulation environment and checking the basic functions of CBDC. The second stage focuses on the extended functions and privacy issues of CBDC. The research project, with a budget of 4.96 billion won (about 4.3 million US dollars), will last for 10 months until June next year.

[3]. Tide, a banking service platform for small and medium sized enterprises in the UK, received US $100 million in financing

On July 12, 2021, tide, a British sme banking service platform, announced that it had received more than US $100 million in financing support. This financing is led by Apax partners and participated by Anthemis, Augmentum, jigsaw, local globe / latitude, SBI and speedinvest. Since its establishment in 2015, tide has raised a total of US $200 million, with a platform valuation of US $650 million. Just a few weeks ago, tide said that it would actively expand global markets such as India, plan to invest 100 million pounds and create 1000 jobs in the next few years.

[4]. Argentina’s financial technology has developed rapidly, and the total number of entrepreneurs has exceeded 300

Earlier in 2021, the Argentine chamber of Finance and technology released a research report on the development of the industry. Data show that there are more than 15000 financial technology employees in Argentina, and there are more than 300 financial technology enterprises, of which about 20% were established last year. Although affected by the dual challenges of the macroeconomic environment and COVID-19, thanks to the rapid popularization of e-commerce, digital payment and payment aggregation services, Argentina’s financial technology industry has achieved steady growth in 2020. Research from minsait points out that the distribution of government aid directly drives about 6.5 million Argentine consumers to download and use digital wallets.

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