Fintech Daily Briefing

Fintech Daily Information Briefing on [November 29, 2021]

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

[1]. Cambridge University alternative financial center releases financial technology data tool platform

Recently, the University of Cambridge alternative Finance Center (CCAF) announced that it will launch a series of digital tools through ccaf.io platform to provide interactive and visual data information of various financial technologies to help industry personnel make decision analysis. CCAF will hold an online event on December 7 to officially launch this service. It is reported that at present, the data provided by the platform include Cambridge University bitcoin power consumption index (cbeci), Cambridge University alternative financial benchmark research and Cambridge University financial technology ecosystem map.

[2]. JPMorgan may consider acquiring Viva wallet, a Greek bank and payment startup

Viva wallet is a bank and payment start-up from Greece. It mainly provides services such as digital debit card, enterprise account and small enterprise payment solutions. Its users cover more than 20 European countries and regional markets. Recently, according to Bloomberg, several institutions, including JPMorgan Chase, are considering cooperation or acquisition. At present, viva wallet is communicating with enterprise consultants, and the platform valuation may reach 1.5 billion euros. Previously, JPMorgan has made several investments in the field of financial technology, such as the acquisition of online asset management platform nutmeg, the acquisition of about 40% shares of Brazilian digital bank C6 for us $1 billion, and the launch of its own brand digital Bank Chase in the UK market this year. At present, JPMorgan Chase and viva wallet declined to comment on the acquisition plan.

[3]. Weyay, Kuwait’s first digital bank, officially unveiled

Recently, the National Bank of Kuwait (NBK) announced that weyay, the country’s first digital bank, was officially unveiled. It is reported that this digital bank is mainly for the younger generation of users in the country to help them track and manage their daily expenses, set and achieve savings goals. At present, the digital bank is still in the trial operation stage.

[4]. Saudi central bank governor: business licenses will be issued to more digital banks

On November 25, 2021, Saudi central bank governor Fahd al Mubarak pointed out at the Financial Stability Forum that the current monetary exchange policy in the Gulf region is very similar to digital transactions and largely depends on the US dollar. Therefore, Saudi Arabia has the ability to turn to digital currency at the regional level. Al Mubarak said that Saudi Arabia has accumulated some experience in the central bank’s handling of digital currency, and stressed that digital currency will exist within the banking system. He said earlier that Saudi Arabia is seeking to establish a low-cost digital central bank with analog-to-digital operation to hedge the actual liquidity held by the central bank. He also revealed that Saudi Arabia will issue operating licenses for more digital banks and has formulated an open banking plan.

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