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Welcome to another episode of our Daily Fintech Podcast.
This podcast episode is sponsored by Mercuryo. With the help of their cryptopowered toolbox, Mercuryo enables companies to take advantage of both fiat and crypto worlds and provide innovative payment solutions for end customers.
THE NEWS HIGHLIGHT OF THE DAY IS
The Chinese crypto exchange Huobi Global announced that it had purchased a Latin American cryptocurrency exchange, Bitex. Huobi explains that the firm is expanding its influence in Latin America as it sees the region as one of the most proactive cryptocurrency acceptance regions worldwide.
JUST IN:
German crypto-focused digital bank Nuri is the latest to feel the chill winds of change in fintech markets, announcing plans to lay off 20% of its workforce in a drive to reach profitability.
WHAT ARE THE LATEST INSIGHTS?
Open finance has massive potential in bringing financial inclusion and wellness to both retail consumers and small-medium businesses worldwide. 2022 is proving to be the year Open Banking grows in its scope – geographical and functional. It is also acting as one of the tailwinds to propel embedded finance experiences that allow non-banks to embed financial products with their core offerings.
AS FOR PARTNERSHIPS
Haven Life Insurance Agency, the customer-centric life insurance agency backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual), and Kinly is announcing a new partnership to make term life insurance more accessible to Black Americans.
WHAT ABOUT FUNDING ROUNDS AND INVESTMENTS?
Kroo has just closed their most recent funding round, successfully raising £26 million.
Sustainable finance provider ecolytiq has secured a €13.5 million financing round led by Visa and other blue chip investors.
Managed App has raised $5.3 million and appointed co-founder Nicholas Bouris as CEO.