Fintech Daily Briefing

Fintech Daily Information Briefing on [March 01, 2021]

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The following is the Fintech Daily Information Briefing on [March 01, 2021] recommended by recordtrend.com. And this article belongs to the classification: Fintech Daily Briefing.

[1]. The UK government released a special report with five suggestions to promote the development of financial technology

At present, the UK accounts for more than 10% of the global financial technology market, and the industry contributes more than 11 billion pounds to the UK economy every year. On February 26, 2021, the British government released a report by Ron, the former CEO of WorldPay, a payment platform Kalifa led the completion of the financial technology industry survey report, and put forward five suggestions for the future development of financial technology in the UK, namely: 1) providing exclusive visa to global experts; 2) providing regulatory support for growing enterprises; 3) optimizing the UK listing rules by reducing free circulation and dual class ownership structure; 4) establishing a 1 billion pound financial technology “Growth Fund”, 5) establish a financial, innovation and Technology Center led by the private sector to support the coordination and development of financial technology in the UK.

[2]. The SEC’s investor Advisory Committee will hold a panel discussion on the SPAC

According to the website of the securities and Exchange Commission (SEC), the SEC’s investor Advisory Committee will hold a meeting on March 11, 2021 to discuss the hot topic of special purpose acquisition company (SPAC). It is reported that the conference will be webcast at the same time and open to the public. In fact, the SPAC model has existed for many years. But in recent months, spac has become more popular with private companies than the traditional IPO model. According to a recent report, spac raised more than $38 billion in 2021. In 2020, the SPAC raised about $83 billion. Some observers believe that the low regulatory threshold may be one of the reasons for the popularity of the SPAC.

[3]. Traveloka plans to launch financial technology services in Thailand and Vietnam

Recently, Caesar Indra, President of traveloka, the largest online travel start-up in Southeast Asia, revealed that traveloka plans to launch financial services in Thailand and Vietnam, so that more consumers can travel in Southeast Asia, Reuters reported. It is said that the business volume of traveloka in Vietnam has exceeded the level before the epidemic, its business in Thailand has almost returned to the normal level, and its business in Indonesia has also reached half of the level before the epidemic. The company’s tourism business has returned to profitability by the end of 2020.

[4]. Ghana’s Central Bank launches financial technology supervision sandbox program

Recently, the Bank of Ghana announced that as part of the pilot program of cooperation with EMTECH service LLC, it will launch an innovation regulatory sandbox program in the future to support the development of innovative financial technology. It is reported that the regulatory sandbox will be open to banks, deposit taking institutions, payment service providers, other unregulated individuals and innovative entities at the same time. In addition, the Bank of Ghana also said that it will focus on blockchain, crowdfunding, remittance, regulatory technology, Digital Banking, women’s inclusive financial products, innovative payment services for small and medium-sized enterprises, etc.

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