Fintech Daily Briefing

Fintech Daily Information Briefing on [October 21, 2021]

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The following is the Fintech Daily Information Briefing on [October 21, 2021] recommended by recordtrend.com. And this article belongs to the classification: Fintech Daily Briefing.

[1]. Cred, a credit card payment application platform, completed a round e financing of US $251 million

It is reported that cred, a financial technology platform, raised US $251 million in the e-round financing jointly led by Tiger global and Falcon edge capital. The investors include new investors Marshall WACE and steadfast venture capital, as well as existing investors DST global, insight partners, coat and Sofina. The current valuation of the platform is US $4.01 billion, nearly doubling from US $2.2 billion in April. The company plans to use the funds to expand its existing services.

[2]. Trump announced that he had created his own social media platform, saying that he would “fight against the tyranny of large technology companies”

According to ABC News on the 20th, trump spokesman Liz Harrington said in a press release that trump media and technology group and digital world acquisition group, which has been listed on Nasdaq, have reached a merger. They set up a new company with trump as chairman. The press release also said that trump Media Technology Group will soon launch its own social media platform called “true social”, and the beta version of the platform will be opened to invited guests in November. Trump said in a press release that the platform would “fight the tyranny of large technology companies”. “It’s unacceptable that we live in a world where the Taliban can make a big voice on Twitter and your favorite president is banned,” he said.

[3]. It is said that Paypal will spend $39 billion on pinterest

According to Bloomberg on Wednesday, PayPal, a payment giant, plans to buy pinterest for $70 a share, totaling about $39 billion. Pinterest was launched in 2019. It mainly provides social media and picture sharing services, as well as online e-commerce services, allowing users to shop directly on its platform. The market expects that this may indicate that there will be more cooperation between financial technology and social media institutions in the field of e-commerce in the future.

[4]. Iran plans to pilot national cryptocurrency and revise relevant legislation of the central bank

Ali salehabadi, the new president of the Central Bank of Iran (CBI), revealed that CBI is preparing to start the pilot phase of its digital currency project in the near future. Salehabadi said that regulators were studying the potential risks and benefits associated with the plan, and the pilot test would begin once approved by the monetary and Credit Committee. It is reported that the new phase of the project is likely to be consistent with the early national cryptocurrency development plan. Officials stressed that Iran’s cryptocurrency will become a digital currency circulating in CBI, rather than a decentralized cryptocurrency that can be used for small cashless transactions. In addition to the digital currency announcement, the Iranian media also learned that the new management of the central bank and members of parliament agreed to establish a joint committee, and its members are expected to quickly finalize a long-awaited plan to update the law governing the activities of the central bank. Salehabadi also said that a special working group would be established to clarify the position of the central bank and the government on cryptocurrency.

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