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Welcome to another episode of our Daily Fintech Podcast.
THE NEWS HIGHLIGHT OF THE DAY IS
This month, the South American country of Brazil unveiled a legislative bill that would allow cryptocurrency to be used as a payment method and prevent users' private keys from being used by the country's judiciary. The proposed bill was introduced by Brazil's Federal Deputy Paulo Martins and awaits discussion in the Chamber of Deputies in Brazil's legislature.
WHAT ABOUT FUNDING ROUNDS AND INVESTMENTS?
A Turkish fintech firm, Param, reached a valuation of $200 million in its first investment round.
Narmi closed a $35 million Series B funding round co-led by Greycroft, NEA and Picus Capital, bringing Narmi’s cash raised to date to ~$60 million.
WHAT ARE THE LATEST INSIGHTS?
Venture funding to Black-founded startups in the U.S. was $324 million in the second quarter of this year—a steep drop from prior quarters when investment to those companies had just started to show hopeful signs of progress.
LET’S HEAR ALL ABOUT MERGERS AND ACQUISITIONS:
Israeli-founded fintech startup Rewire, the first digital wallet designed specifically for economic migrants, has “hit a key growth milestone” after acquiring Imagen Cards, a provider of pre-paid card solutions for migrants in Israel.
NOW, LET’S COVER NEW LAUNCHES AND FEATURES.
Wayflyer, the Irish tech unicorn, has added a new credit line to its portfolio as part of plans to issue up to $2.5 billion in credit to clients this year.