Fintech Daily Information Briefing on [August 31, 2021]
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The following is the Fintech Daily Information Briefing on [August 31, 2021] recommended by recordtrend.com. And this article belongs to the classification: Fintech Daily Briefing.
[1]. PayPal plans to launch a stock trading service
Recently, it was reported that PayPal, an American payment giant, plans to launch stock trading services in the future. Previously, PayPal had hired rich Hagen, former president of ally invest and co-founder of tradeking, as the head of a department called PayPal invest. PayPal’s entry into stock trading services highlights the current industry development trend of one-stop digital financial services. As the compliance process of the new stock trading service is very complex, some market participants speculate that PayPal may choose to acquire a securities firm to compete directly with existing rival platforms such as etrade and Schwab.
[2]. Toranotec, a Japanese points and small investment platform, won an investment of 2.9 billion yen
On August 30, 2021, toranotec, a Japanese financial technology startup, announced the completion of round C financing of 2.9 billion yen. The financing is led by JIC venture growth fund 1 and invested by seven bank, Ltd, aslead capital PTE. Ltd., Ag Capital Co., Ltd. and sumisei innovation fund. Toranotect provides users with points and small investment services through an application called toranoko. At present, the cumulative number of users has exceeded 300000. In the future, toranotec will use this financing to continue to increase investment in R & D of products and services and expand the scope of marketing.
[3]. Nigerian central bank issues draft guidelines for central bank digital currency projects
The Central Bank of Nigeria (CBN) has issued preliminary guidelines for its proposed enaira digital currency. In the promotional document sent to the country’s commercial banks, CBN outlined several design features of the central bank digital currency (CBDC). Nigeria’s CBDC code name is “project giant”, which will be linked to the value of Naira. Enaira will operate with the legal tender of the country, and CBN is responsible for issuing, distributing and exchanging digital currency and other monitoring and management functions.
[4]. Vietnam plans to formulate digital technology industry law
According to the Vietnam economy, the Ministry of communications and media of Vietnam plans to formulate the digital technology industry law to replace the information technology development in the information technology law of 2006, which will stipulate the rights, obligations and responsibilities of institutions, units, organizations and individuals related to digital technology industry activities. According to the Ministry of communication and media of Vietnam, IDC predicts that the market scale of new technologies such as blockchain will exceed US $1 trillion in 2021. Under this background, it is necessary to formulate the digital technology industry law. At present, the Ministry is soliciting opinions on the above draft legal proposal.
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