Your Daily FinTech Podcast - June 1st, 2022

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Welcome to another episode of our Daily Fintech Podcast.

This podcast episode is sponsored by Sokin. Sokin is the trusted global FX payment provider for some of the world’s leading brands. With Sokin Premium you can send and receive unlimited international payments for one fixed monthly fee. Market beating rates, no commission, hassle-free.

THE NEWS HIGHLIGHT OF THE DAY IS

Mastercard CEO, Michael Miebach, said that he does not expect SWIFT , one of the most widely used cross-border payments services, to exist after five years. His comment was part of a panel discussion held on Tuesday at the Global Blockchain Business Council’s (GBBC) Blockchain Central Davos Conference in Switzerland.

JUST IN:

Barclays Bank is adding to a wave of branch closures across the UK, announcing plans to shut an additional 27 sites this year.

ALSO:

The Australian Competition and Consumer Commission (ACCC) has started legal proceedings in the Federal Court against Mastercard Asia Pacific and Mastercard Australia for alleged anti-competitive conduct that substantially lessened competition in the supply of debit card acceptance services.

WHAT ABOUT FUNDING ROUNDS AND INVESTMENTS?

Indian fintech Jar is engaging with several investors to raise about $50 million at a $350 million valuation.

Indonesia-based digital investment app Bibit.id announced that it has raised more than US$80 million in a round led by Singapore state investor GIC.

Hong Kong-based crypto lender and asset manager Babel Finance has secured $80m in a Series B round — double the amount it raised a year ago in its Series A.