Fintech Daily Information Briefing on [November 04, 2020]
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The following is the Fintech Daily Information Briefing on [November 04, 2020] recommended by recordtrend.com. And this article belongs to the classification: Fintech Daily Briefing.
[1]. Conductor, a Brazilian financial technology start-up, received a large investment of US $150 million
On October 30, 2020, conductor, a Brazilian financial technology platform, announced that it had received $150 million in financing led by Viking global investors. At present, conductor has established the largest and fastest growing full stack bankcard issuance platform in Latin America, providing support for leading fintech companies, banks, retailers and enterprises in the region, enabling them to start and expand innovative digital account and bankcard projects. Conductor’s cloud native and open API solutions cover card issuing bank processing, bank as a service and other digital banking services. Conductor currently serves 85 million accounts across Latin America and handles more than $20 billion in payments. The new round of financing will enable conductor to accelerate product development and international growth, and further consolidate its leading position in modern payment infrastructure technology.
[2]. Payment service platform stripe launched the world’s first large-scale carbon removal purchasing tool
On October 28, 2020, stripe, the payment service platform, announced the launch of the world’s first large-scale carbon removal purchasing tool strip climate, which contributes to the removal of excessive carbon dioxide in the atmospheric environment and the fight against climate change. As we all know, in order to achieve the goal of “Paris Agreement” temperature control, we need to achieve zero global carbon emissions by 2050. But over the years, there has been little investment in carbon removal. According to data from PricewaterhouseCoopers, between 2013 and 2019, carbon removal start-ups received less than one percent of the total venture capital in green technology. Stripe has a global user network, a fast online environment and a sizable economic base will provide great help for atmospheric carbon removal. In May 2020, with the help of an expert group composed of a number of scientists, stripe purchased a total of US $1 million of carbon removal products from four start-ups, namely, climeworks, Vesta, carboncure and charm industrial, to help these enterprises promote R & D and reduce operating costs. In the future, stripe will not charge any fees for strip climate, but will spend all the user’s investment on carbon removal exploration. At present, this service is only open to the U.S. market and is expected to expand to more regions in the future.
[3]. The results of the US election may affect the process of international negotiations on digital taxes
The digital tax differences between Europe and the United States have existed for many years, and the upcoming US election results may affect the negotiation process. Previously, the trump administration had opposed the imposition of a digital tax on large US technology companies such as apple and Amazon, believing that it would cause discrimination, and announced in June this year that it would temporarily withdraw from the digital tax negotiations due to the new outbreak. Biden, by contrast, is more friendly to international organizations and has advocated higher corporate tax rates in the United States. Although political experts have also said that if Biden is elected, it may not be possible to immediately start negotiations on the issue at the OECD level, the OECD still hopes to reach an agreement by the end of 2021 or early 2022. This is because the tension caused by the digital tax issue may lead to a sharp increase in unilateral digital services tax, destructive taxation and even trade disputes, resulting in a loss of 1% per year in global economic growth.
[4]. Paypal will open its encryption service to all U.S. users in the next two to three weeks
PayPal CEO Dan Schulman revealed more details about his plans to launch encryption services at a conference call on Monday to report third quarter 2020 results. Schulman revealed that PayPal plans to launch encryption services in the United States (to buy, sell and hold cryptocurrencies) first, and then promote them internationally. “We’re going to serve 100% of our U.S. users in the next two to three weeks. Then we will expand internationally and expand to venmo in the first half of next year. ” He also confirmed that PayPal would increase its weekly cryptocurrency purchase limit by 50% to $15000 due to increased demand. The previous purchase limit was $10000. According to yesterday’s report, PayPal has opened cryptocurrency purchase to some US users. Users need to verify SSN (US social security number) and set up PayPal cash account to complete the purchase. At present, users can purchase BTC, ETH, BCH and LTC on PayPal platform, with a minimum purchase price of $1. When buying and selling cryptocurrency, PayPal charges transaction fees and currency exchange fees, and users do not have to pay for holding cryptocurrency. At present, users can only hold the cryptocurrency purchased in PayPal in their personal account and cannot transfer to other accounts.
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