Fintech Daily Briefing

Fintech Daily Information Briefing on [March 29, 2021]

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The following is the Fintech Daily Information Briefing on [March 29, 2021] recommended by recordtrend.com. And this article belongs to the classification: Fintech Daily Briefing.

[1]. OSU, a self-employed payment service platform, received 2.25 million pounds in seed round financing

On March 25, 2021, OSU, a financial technology venture in London, announced the acquisition of a 2.25 million seed round of financing. Founded in 2020, OSU mainly provides an online platform for self-employed people to provide daily services such as customer communication, scheduling, digital marketing, payment and bills. Currently, OSU has attracted more than 1000 users. This year, OSU plans to increase the total number of users to 10000, while continuing to expand its business scope and introduce more management functions.

[2]. Greenhill capital, invested by Softbank, filed for bankruptcy protection in the United States

On March 25, 2021, Greenhill capital, a supply chain finance company funded by Softbank, filed for bankruptcy protection in New York under Chapter 11 of the U.S. bankruptcy law, after it filed for bankruptcy in the United Kingdom. Earlier this month, Greenhill’s main insurance company stopped providing credit insurance for the $4.1 billion debt portfolio it created for its customers, including Credit Suisse, and the company, which was once valued at $7 billion, began to collapse.

[3]. Sumitomo Mitsui trust bank will issue digital securities in Japan for the first time this month

Sumitomo Mitsui trust bank will issue digital securities in Japan for the first time this month. The digital securities use blockchain technology and will also be considered for sale to individual investors in the future. According to previous reports, Japanese financial giant SBI holdings, in cooperation with Sumitomo Mitsui Financial Group, will launch a digital stock exchange in Osaka in the spring of 2022, and is expected to start processing digital securities in 2023. The exchange’s digital stock exchange is expected to become the first one in Japan to use blockchain technology to trade digital stocks. To launch the exchange, SBI and Sumitomo Mitsui will jointly set up Osaka digital exchange ODX as the operator. SBI will hold 60% of ODX, while SMFG will hold 40%.

[4]. US President Biden to issue the first bill of the 3 trillion yuan economic recovery plan

On March 28 local time, White House spokesman Jen psaki said that President Biden has decided to divide the 3 trillion yuan economic recovery plan into two bills, and will deliver a speech in Pittsburgh, Pennsylvania on Wednesday (March 31 local time) to elaborate the first bill focusing on U.S. infrastructure reform. It is reported that the first bill will focus on the reconstruction of roads and bridges in the United States and the expansion of broadband network in rural areas. The second bill, to be published in April, will deal with child care measures, health care subsidies and other issues.

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