Get your Daily FinTech Crunch. A curated set of news bites about the latest updates on payments, FinTech, DeFi, Crypto, and the world beyond…
- Indian B2B credit decisioning company Perfios joined the unicorn club with a $70 million Series C funding. bit.ly/3tk5dWZ
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- Fintech startup Dowsure has raised a $20 million Series B funding. The Chinese company based in Shenzhen has developed credit-checking software that enables small-scale ecommerce vendors to borrow from banks. bit.ly/3IyhzkS
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- Toronto-Dominion Bank Group about to become the United States’ sixth largest bank after securing a $13.4 billion deal to buy First Horizon Corp. bit.ly/3HxI5to
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- BNPL is becoming increasingly popular in Saudi Arabia, especially among the younger population of the Middle Eastern country. 48% of Saudi shoppers plan to increase their online shopping in the upcoming year, and 55% have already used BNPL payment methods. bit.ly/3MnRYO3
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- Malta-based accounting platform Binderr is utilizing Nordigen’s freemium open banking platform to help freelancers and SMEs better finance their business. bit.ly/3pqeQm1
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- Zego, UK’s first unicorn-status insurtech company, is now expanding to a wider European market with “no plans to slow down.” The car insurance startup which launched in 2016 has raised over $250 million in funding since its inception. bit.ly/35xBQs9
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- Crypto donations to Ukraine have reached $20 million, helping the country provide national aid and resist the Russian invasion. Among the contributors are FTX founder Sam Bankman-Fried and Chain.com CEO Deepak Thapliyal. bit.ly/35CYfUW
- The Ukrainian government is using crypto donations to buy critical supplies like gas, food, and military equipment. Around $10 million of the funds has already been spent. bit.ly/3hpxjL2
- A subsidiary of Saudi Telecom Company will be the first MENA telecommunications firm to start working with Chainlink. This will help them provide their customers smart contracts with access to real-world data and secure off-chain computations. https://bit.ly/3KaTbGx
- eBay is about to add crypto payments to their online shopping, with plans to attract the Millennial and Gen Z customer base. bit.ly/3vIMsj9
- The FBI's new Virtual Asset Exploitation Unit (VAXU) is forming a new task force “dedicated to crypto.” VAXU's main operation will focus on fighting against crypto-criminal activities. bit.ly/340RtrE
- Over the last 30 days, Cardano has attracted $50 million towards defi projects, following the full release of the SundaeSwap platform and their increase of decentralized products. bit.ly/3MfGcFo?
- China’s Supreme Court is tackling illegal crypto fundraising, with up to 10 years in prison and $79,000 in fines. The law defines illegal fundraising as public fundraising, unclear goals, promised return on capital and interest, and activities that violate the law. bit.ly/3vtqXTg
- VR clinics are becoming a reality, with XRHealth being the first company in the metaverse to provide remote care to patients. XRHealth has raised $10 million in funding to help expand virtual healthcare treatment. bit.ly/3HuG9BW
- If you’ve been wondering how you can guarantee that an item is not counterfeited in the metaverse, collectID solves that problem. “We solve this problem for both brands and customers by combining encrypted, smartphone-ready NFC tags with secure NFTs on blockchain,” David Geisser, co-founder and CEO of the Swiss luxury and sportswear startup said. bit.ly/3hutVhU
- South Korea is investing $186.7 million to create its metaverse ecosystem as part of the nation’s “Digital New Deal” policies. bit.ly/3HpIpdC
- Gucci is collaborating with The Sandbox to purchase virtual land for its "interactive fashion experience." The platform allows people, brands and organizations to buy and develop virtual real estate. bit.ly/35CS7Mi
- Bahrain Fintech Ecosystem Report 2022: The report showcases the essential emerging tech and fintech trends within Bahrain’s ecosystem and provides insight into the driving factors needed to capitalize on growth for a thriving ecosystem in the future ahead. bit.ly/3HvQCgp
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