Fintech Daily Information Briefing on [September 09, 2020]
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The following is the Fintech Daily Information Briefing on [September 09, 2020] recommended by recordtrend.com. And this article belongs to the classification: Fintech Daily Briefing.
[1]. Digital bank revolut officially enters Japanese market
On September 8, 2020, digital bank revolut announced its official entry into the Japanese market. In 2018, revolut was approved by Japanese regulators and launched a beta service to 10000 users in the country, mostly foreigners living in Japan. After the official launch, revolut users can choose to open premium accounts or ordinary free accounts. In the future, revolut users in Japan will be able to remit free money to revolut users in the United Kingdom, the United States, Australia and Singapore. In February 2020, revolut has just completed a record $500 million round D financing, and obtained another $80 million in funding support at the end of July.
[2]. Famous Japanese media companies join hands to create a blockchain driven digital content distribution ecosystem
According to cryptonews on September 9, some well-known Japanese media companies have teamed up with blockchain technology experts to create a blockchain driven digital content distribution ecosystem. The alliance, called the Japanese content blockchain Initiative (jcbi), was founded earlier this year with seven founding members. Among the most striking are Hakuhodo, one of the world’s largest marketing agencies, and Asahi Shimbun, the publisher and owner of one of Japan’s largest newspapers. According to the latest report, Dentsu, a Japanese advertising giant, has joined the alliance, and agreements have also been signed between ave technologies, an intellectual property specialist, and singulanet, a blockchain consulting firm. The project currently operates two major projects. The first is a video and TV program distribution platform using blockchain technology. The second is copyright protection services for various forms of digital content.
[3]. Plenti, an Australian consumer loan platform, plans to raise a $55 million through an IPO
Recently, plenti, an Australian consumer loan platform, announced plans to raise $55 million through an initial public offering. In early August 2020, ratesetter, a UK online lending platform, was acquired by Metro Bank. Ratesetter Australia, which was established in 2014, is not included in this acquisition plan. One week after the announcement of the acquisition, ratesetter Australia announced that it was renamed plenti, and ratesetter UK shareholders still hold about 13% of plenti. Previously, plenti mainly provided P2P loans, and later its business gradually expanded to other areas of cooperation with banks and institutional investors.
[4]. Grab, a shared travel platform in Southeast Asia, plans to raise $500 million
Grab, the Southeast Asian taxi giant, is in deep dialogue with a number of investors, including Prudential and AIA group, seeking to raise $300 million to $500 million for its financial services sector, Reuters reported, citing people familiar with the matter. One source said the insurers could help grab reach half of her target funding in a few rounds. The Singapore based start-up hopes to reach an agreement as early as October, the source added. According to their estimates, grab financial’s pre financing valuation is currently about $2 billion. Grab declined to comment. If the deal goes through, grab financial will have a big expansion. It is reported that its financial technology department has recently launched its first micro investment solution. The autoinvest service allows Singaporean users to invest as little as S $1 per grab transaction. Users are expected to get a return of about 1.8% a year using the feature, the company said. Grab also announced other products, such as consumer loans, and plans to expand its “pay as you go” service.
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