Fintech Daily Briefing

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The following is the Fintech Daily Information Briefing on [July 14, 2021] recommended by And this article belongs to the classification: Fintech Daily Briefing.

[1]. Wagmo, a pet insurance company, completed $12.5 million round a financing

According to foreign media techcrunch, wagmo, a pet insurance company, recently completed a $12.5 million round a financing, led by revolution ventures. Wagmo was founded in 2018 by Christie Horvath and Alison Foxworth and is headquartered in New York. Wagmo divides its products into two parts: insurance and wellness. Among them, wagmo insurance covers emergency care and unexpected expenses, such as surgery, laboratory testing, prescription drugs, cancer treatment, ambulance and euthanasia. Wagmo’s insurance product is one of the few products in the market where all policies can be 100% reimbursed. Wagmo wellness covers all routine physical examination and preventive care, and mainly reimburses basic expenses, including veterinary examination, vaccine, beauty, dental care, etc. The separation mode of health and insurance products is also conducive to platform drainage: the user group of a product can expand horizontally after boarding the platform. So far, wagmo has served thousands of customers and handled nearly 30000 health claims. Wagmo’s user base has grown by 20% a month since the outbreak. In addition, wagmo is actively exploring 2B direction. Since the beginning of this year, wagmo has signed contracts with mongodb, salesforce and other enterprises to make pet insurance a part of employee welfare plan.

[2]. Bis: international cooperation in the field of central bank digital currency helps to improve the efficiency of cross-border payment

On July 9, 2021, the Committee on payment and market infrastructure (CPMI), the innovation center of the bank for International Settlements, the International Monetary Fund (IMF) and the World Bank jointly released a special report on central bank digital currency (CBDC) and cross-border payment. The report points out that CBDC’s great potential in optimizing cross-border payment can be realized through different degrees of cooperation such as building common standards and international infrastructure. At present, most CBDC research focuses on the domestic market. According to the report, in order to achieve public interest and maintain financial stability at the same time, we need to increase the research and exploration in the design of CBDC model and its macro financial impact.

[3]. Gojek’s investment department participates in vara, Indonesia’s human resource management platform

According to tech in Asia, gojek’s investment department, go ventures, recently participated in the US $4.8 million seed round financing of vara, an Indonesian human resource management platform. Other investors in this round of financing are RTP global, alpha JWC ventures, surge, FEBE ventures and Taurus ventures of Sequoia India.

[4]. Seoul, South Korea launches public service application “digital Seoul wallet” based on blockchain

On July 13, 2021, Seoul, South Korea announced the launch of a public service application “digital Seoul wallet” based on blockchain. Its main functions include: storage and submission of electronic certificates, verification and application of welfare service qualification, simple identity verification and electronic signature, Seoul mileage query. Seoul explained that the app has used blockchain technology to store data to prevent forgery and tampering, and to strengthen the protection of personal information“ The Seoul wallet app can store about 100 kinds of e-certificates, including copies of resident registration and vaccination certificates.

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