The B2B financing and payment platform Tribal Credit raised $40 million in a debt round, which included $20 million USDC from the Stellar Development Foundation.
Japanese banks are looking at digital payments due to a recent regulatory change which may bring in more competition; the law will be introduced in phases which makes it easier for depositors to give third parties access to both their accounts and data; it is part of a government push to reduce high cash use in the country; Projects around QR codes, blockchain and digital currencies are currently in the works. Source
The new funding round brings the company’s total capital to $365 million; CloudWalk reaches a $2.15 billion valuation and becomes a unicorn
Delayed for a half year now due because of sudden inflation and unemployment issues, Powell said the stable coin report is still weeks out.
Samir Desai has landed $30m for a mysterious new venture in the payments space....
SoftBank Vision Fund is considering a $500 million investment in the Hong Kong IPO of ZhongAn Insurance, Thomson Reuters’ publication IFR cited people close to the deal; the fund is likely to be a cornerstone investor in ZhongAn’s up to $1.5 billion IPO, which is expected to launch as early as Sept. 18; SoftBank and ZhongAn declined to comment when contacted by Reuters. Source
The Fintech Law regulates the open data that financial entities can share about their clients, however, it does not contemplate...
When it secured a banking charter and raised a half-billion dollars last year, Varo promised growth and profitability. But an abrupt fintech downturn and high spending have left it with no choice but to slam on the brakes.
The desire for increased financial inclusion is a primary driver behind the increased use of alternative data in lending decisions, a new report from LexisNexis Risk Solutions finds.
Challenger credit card X1 Card has raised $25m in a Series B funding round led by Google Analytics co-founder Wesley Chan’s new fund FPV Ventures.