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Brazilian Companies Lead the Charge: Dominating 50% of LATAM FinTech Deals in 2024
In 2024, the Latin American FinTech sector is experiencing a significant decline in investment, with total funding dropping to $2.37 billion, a 13% decrease from 2023 and a 26% decline from 2020. Deal volume has also plummeted, with only 171 deals completed, marking a 65% drop from the previous year. Brazil remains the leader in deal activity, securing 87 deals, but this is a 60% decrease from 2023. Notably, Celcoin raised $125 million in a funding round, highlighting resilience in the sector. Despite challenges, companies like Celcoin indicate potential for recovery and growth in LATAM FinTech.
Combating a $103.6 Billion Fraud Crisis: Europe’s Strategic Battle Against Financial Deception
Nasdaq Verafin has released the report “Financial Crime Insights: Europe,” highlighting the extensive financial crime affecting the continent. According to the 2024 Global Financial Crime Report, around $750 billion in illicit funds infiltrated Europe’s financial systems, representing 2.3% of the GDP. A significant portion, $194.9 billion, is linked to cross-border transactions, stressing the need for international cooperation. Fraud has resulted in losses of $103.6 billion, threatening financial integrity. Executive VP Stephanie Champion calls for collaboration among stakeholders to combat these crimes. The report also recommends enhanced anti-money laundering efforts and innovative fraud prevention strategies to secure the financial ecosystem.
Unlocking the Power of ESG Data: Transforming Modern Insurance Underwriting
The integration of environmental, social, and governance (ESG) data in the insurance sector is crucial for enhancing accountability and transparency. Insurers are utilizing ESG data for improved risk assessments, innovative product development, and regulatory compliance. This shift reflects a growing demand from stakeholders, including employees and customers, for sustainable practices. However, challenges such as data fragmentation and technological limitations hinder effective implementation. A survey indicates that a significant majority of insurers recognize the impact of ESG factors across various business operations. By 2025, those embracing ESG principles are expected to lead in sustainability and attract conscious investors, essential for competitive advantage.
Anchorage Digital Set to Expand with Strategic Acquisition of Mountain Protocol, a Leading Stablecoin Issuer
Anchorage Digital has agreed to acquire Mountain Protocol, a Bermuda-based issuer of the USDM stablecoin, aiming to expand its stablecoin offerings amid growing institutional demand and regulatory changes in the U.S. The acquisition’s financial details remain undisclosed, pending regulatory approvals. Mountain Protocol’s USDM stablecoin is fully backed by U.S. Treasuries and operates across multiple blockchains, appealing to institutional investors. Anchorage plans to integrate Mountain Protocol’s technology and team to enhance support for stablecoin use cases. CEO Nathan McCauley emphasized the importance of stablecoins in the digital economy. Additionally, Anchorage has secured a Major Payment Institution license in Singapore.