Cash Plummets, Klarna #2 Fintech, Largest Crypto Company, Bitcoin Regulations & Other News




Happy Wednesday!



In this edition:







Cash Use Plunges During Pandemic.



The Covid-19 pandemic has accelerated the decline of cash, with the volume of UK payments made using notes and coins plunging by 35 per cent in 2020 compared with the previous year.


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BIS And Bank of England Open London Innovation Centre.



The Bank of International Settlements (BIS) has opened a London innovation hub in collaboration with the Bank of England. This is the fourth innovation centre that the BIS has launched in the past two years, having already established innovation partnerships with the Hong Kong Monetary Authority, the Monetary Authority of Singapore and the Swiss National Bank.

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Klarna Hits $45.6bn Valuation and Becomes the World’s Second Most Valuable Fintech.



Klarna is now the second most valuable fintech startup in the world after the Buy Now Pay Later company on Friday announced it had raised $639m in fresh money at a $45.6bn post-money valuation.


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Tether’s Commercial Paper Disclosure Places It Among Global Giants.



Disclosures from cryptocurrency provider Tether suggest it has become one of the world’s largest investors in the US commercial paper market, rubbing shoulders with the likes of fund managers Vanguard and BlackRock and dwarfing the investments of tech giants like Google and Apple, according to estimates from JPMorgan.

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Basel Committee Urges Recognition and Management Of Crypto.



The Basel Committee has set the tone for the official handling of Bitcoin in banking through its regulatory announcement.


Experts have welcomed the news that the Basel Committee on Banking Supervision has proposed splitting cryptocurrency assets into two categories and managing them according to their current stability.

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Thank you for the time!




Fasanara Fintech Weekly