EMEA Daily: Shaping the future of the digital dollar

In today’s major news from Europe, the Middle East and Africa, the Swiss-based Bank for International Settlements has completed trials of blockchain-based platforms, while the Dutch startup ParkBee closed a $33 million funding round.

Additionally, trading automation platform Saphyre raised $18.7 million in Series A funding, and the UK Competition and Markets Authority reminded Barclays and Lloyds that they had breached their open banking obligations.

Regional central bank alliances could shape the future of the digital dollar

Alongside four central banks, the Swiss-based Bank for International Settlements has completed trials of two blockchain-based platforms on which a multinational central bank digital currency (CBDC) technical standard could be based.

Nationally issued CBDCs, like the digital yuan and the proposed digital dollar, could make retail and interbank payments easier, faster and cheaper. With help from the central banks of Australia, Malaysia, Singapore and South Africa and several commercial banks, the project seeks to deepen the governance, processes and technology needed to achieve this.

Amsterdam startup ParkBee closes $33m funding deal

ParkBee, a Dutch startup that turns infrequently used parking spaces into reservable spaces for the public, has secured a €30 million ($33 million) funding deal led by the Dutch technology investor. clean energy, Koolen Industries.

ParkBee CEO Werner Paul Boerma said the investment will allow the company to expand in Europe and accelerate the transition of the fleet to electric vehicles, with more charging options in car parks. The startup operates in the Netherlands, UK, Germany and Belgium.

Series A brings $18 million to Saphyre trading platform

Saphyre, an artificial intelligence (AI)-powered trading automation platform, raised $18.7 million in a Series A funding round led by HCAP Partners.

The round was assisted by JP Morgan and BNP Paribas. Launched in 2017, Saphyre said it was awarded 104 patents and integrated with seven different platforms, with clients managing over $3 trillion in assets.

AMC warns Barclays and Lloyds to comply with open banking order

The UK Competition and Markets Authority has sent letters to Barclays and Lloyds expressing the regulator’s concerns over banks’ failure to comply with their open banking obligations contained in the Market Investigation Order. retail banking in 2017.

Following a market study on the supply of retail banking services, in 2017 the CMA found that the market was not as competitive as it should be. It has issued remedies to facilitate price and quality comparison for consumers.



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