Daily Fintech Podcast - March 30th, 2022

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Welcome to another Daily Fintech Podcast

This podcast episode is sponsored by Payhawk. Payhawk is the most efficient credit card backed by powerful financial software to help companies stay in control of their spend. Try efficient, paperless, compliant spending today.

THE NEWS HIGHLIGHT OF THE DAY IS

Swedish fintech giant Klarna is keen to ditch its association with its main product, buy now, pay later (BNPL). It instead wishes to move towards being known more for being a global retail bank and one-stop eCommerce shop, according to the company’s chief marketing officer. This could be attributed largely to the amount of criticism the BNPL sector receives, Klarna often bearing the brunt due to it being the largest company in the sector.

JUST IN:

Cryptocurrency exchange Coinbase Global (COIN) will soon require its customers in Canada, Japan, and Singapore who send cryptocurrency to another financial institution or exchange to provide the name, address, and, in the case of Japan, the destination wallet of the recipient.

ALSO:

Galileo Financial Technologies, a subsidiary of SoFi Technologies, Inc., announced its recent expansion into Colombia. Galileo is currently providing services in Colombia where it can partner with issuers, banks, eCommerce and fintechs to enable their digital financial services offerings.

FURTHERMORE,

Douugh announced it has entered into a $20 million equity placement facility agreement with Long State Investments Limited. Based in New York City, Long State has significant experience in investing in disruptive early-stage public companies in high growth-oriented sectors, including fintechs. The Agreement will provide Douugh with a fully flexible, on-demand funding facility.

WHAT ABOUT CRYPTO?

The Brazilian city of Rio de Janeiro will allow the payment of a municipal real estate tax with cryptocurrencies starting in 2023, the city announced on Friday.