Fintech Daily Briefing

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The following is the Fintech Daily Information Briefing on [March 12, 2021] recommended by And this article belongs to the classification: Fintech Daily Briefing.

[1]. Indonesian coffee tycoon founded start up Development Fund

According to dealstreetasia, the founder of kopi kenangan, an Indonesian coffee chain, has set up a fund to invest in Indonesian start-ups. It is reported that the invested enterprises will receive an investment of $10000 to $150000. In addition to dropezy, a logistics start-up invested last week, the fund also supports other local start-ups, including bukukas, a financial technology platform, noice, a podcast company, and so on.

[2]. Capital one invests $24 million in securnix, a cloud based security service platform

On March 10, 2021, securonix, a cloud security service platform, announced that it had received US $24 million in financing from capital one ventures. In the future, securonix will use this fund to continue to speed up technology research and development, develop more services for network attacks, internal threats, fraud risk, application security, Internet of things and other issues, and enhance its market share of cloud security services in finance and other industries.

[3]. US Securities Regulatory Commission: don’t blindly participate in SPAC related investment because of Star benefits

Nowadays, actors, professional athletes and other stars often speak for a variety of products and services, including investment opportunities including spac. However, star participation does not mean that these investment opportunities are suitable for other investors. On March 10, 2021, the US Securities and Exchange Commission (SEC) issued an investment warning, hoping that investors would not participate in SPAC related investments just because of the star effect (such as social media, e-mail, online chat room advertising, etc.). The SEC pointed out that spac also carries investment risks, and the star’s status as an investor or sponsor may lead to different interests between spac and other investors. Therefore, the SEC suggests that investors should carefully understand the relevant background, investment objectives and risk tolerance of the SPAC project before making decisions.

[4]. Russia’s central bank plans to release a digital ruble prototype by the end of the year

The Central Bank of Russia plans to issue a prototype version of the digital ruble platform for the first time by the end of 2021. Alexey zabotkin, deputy governor of the Russian central bank, said the prototype would undergo additional testing in 2022 after its public release. Russian central bank governor Elvira nabiullina has previously said that CBDC will act as a “third form of currency” rather than replace cash and non cash digital payments.

[5]. KPMG: Top 10 regulatory challenges in 2021

The disruptive changes in various industries in 2020 will reshape the financial services industry. These changes will affect all aspects of financial services business entities and strategic operations, as well as their technical systems and data security, products and services, customer interactions, and third-party relationships / affiliations. With these changes comes the challenges and concerns of various regulatory and public policies. On February 22, 2021, KPMG published a special insight article, and listed change management, credit risk and LIBOR reform, climate and ESG, core risk management, operational resilience and network security, compliance risk, fraud and financial crime, consumer / investor protection, payment and regulatory power expansion as the top ten regulatory challenges in 2021.

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