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Latin America: Stablecoin Race Heats Up

Global Finance

Following the successful launch of Circle’s proprietary USDC via behemoth banks BTG Pactual and Nubank in March, the unicorn Latin American startup Mercado Libre has rolled out its commission-free dollar-backed stablecoin, the Meli Dolar. Foreign currency-backed stablecoins are widely seen as the next big thing in Latin America.

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Bitcoin Daily: Bank Of Canada Tests DLT; Crypto Startup Uphold Gets Into Loans

PYMNTS

The SBI Group plans to license Sepior ApS ’ wallet technology to use in its own wallet, which will become a part of its digital currency exchange platform, the company said in an announcement. Work remains to be done to determine how it can be set up to maximize the benefits for the whole financial system.”.

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Blockchain Tracker: Capitol Hill To Startups, Incubators Inbetween

PYMNTS

Earlier this week, blockchain arrived on Capitol Hill by way of the formation of the Congressional Blockchain Caucus focused on examining and educating lawmakers on the payments technology and issues associated with the digital currency. Blockchain database startup BigchainDB just landed a sweet $3.37 Jared Polis (D-CO) and Rep.

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The Innovators 2024—Best Financial Innovation Labs

Global Finance

In 2023, the lab honed its focus to concentrate on startups between seed and Series A funding stages. The lab, which had previously nurtured 76 startups, invested 500,000 Brazilian reais (approximately $91,000) in each of the six startups accelerated last year. Thus far, 64 startups have graduated from the lab.

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BalanceHero Recorded More Than $100M In GMV Sales

PYMNTS

BalanceHero, the startup behind the popular Indian digital payments app True Balance , has roughly 60 million registered users and recorded $100 million in gross merchandise volume (GMV) sales. Reporters, citing company spokesperson Yongsung Yoo, said the startup has raised $42 million in venture funding.

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World’s Best Banks 2024: Global Winners

Global Finance

trillion in extended credit and new capital for its consumer and institutional clients while moving $10 trillion in over 120 currencies daily. This time, the failures disproportionally affected the venture capital-backed tech startup sector that these banks catered to. Throughout 2023, JPMorgan Chase raised $2.3

Banking 107
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IMF: Banks Must Change In The Face Of Big Tech

PYMNTS

Banking institutions will get “left behind” if they don’t evolve as big tech companies continue disrupting the financial system, the latest research from the International Monetary Fund (IMF) says. “ The role banks will play in the digital currency landscape is something the IMF has been researching.

Banking 43