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Worldcoin, the innovative biometric wallet and ID project, is making significant waves in Chile as it surpasses a remarkable milestone. The organization has reported that over 200,000 Chileans have embraced Worldcoin, representing more than 1% of the country’s population. This surge in popularity mirrors similar trends in other South American nations, such as Argentina, where an astonishing 9,500 Argentines verified their IDs within a single day.
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FinTech: Atom Bank And Kamma To Partner For Greening UK Mortgage Assets
Atom bank and Kamma have formed a significant partnership aimed at addressing the pressing concerns of climate change. This collaboration brings together Atom bank’s cutting-edge banking technology with Kamma’s climate tech expertise, creating a comprehensive approach to understanding and mitigating climate risks associated with Atom bank’s mortgage portfolio.
Venture Capital: Slope, A B2B Solutions Provider Backed By Sam Altman, Scores $30M Funding
Slope, a two-year-old AI startup based in San Francisco, has secured a substantial $30 million equity round led by Union Square Ventures and featuring participation from OpenAI’s CEO, Sam Altman. This brings the startup’s total funding to an impressive $187 million.
Artificial Intelligence: Palantir Awarded $250M Contract By US Department Of Defense For AI R&D
Palantir Technologies Inc. (NYSE: PLTR) has secured a significant contract worth $250 million with the US Defense Department. The primary focus of this contract is the research and development of artificial intelligence (AI) and machine learning technology. This development underscores Palantir’s strong ties to the US government and its growing involvement in the realm of AI and defense.
Digital Assets: Chase UK Blocks Crypto Transactions; CoinBase CEO Brian Armstrong Pans Decision
Chase U.K. is set to block crypto-related payments starting October 16, with customers no longer able to make such transactions using debit cards or outgoing bank transfers. In an email to its customers, Chase made it clear that any attempts to make payments associated with crypto assets would be declined. Customers were advised that they are free to explore alternative banks or providers if they wish to invest in cryptocurrencies.
FinTech: Visa Commercial Pay Virtual Cards Now Available To Lloyds Bank Customers
Visa (NYSE: V) and Lloyds Bank (LON: LLOY) have joined forces to introduce a cutting-edge virtual card solution, designed to cater to businesses of all sizes. This innovative product, known as Visa Commercial Pay, is now accessible to Lloyds Bank customers. It addresses a range of challenges faced by businesses in payment and procurement administration, including spend control, process simplification, invoice reconciliation, and expenditure reporting.
Artificial Intelligence: Tree-Strapped AI Sentries Warn Of Deforestation In Real Time
Small AI-equipped boxes called “curupiras” have been deployed in the Brazilian Amazon to combat deforestation. These boxes use sensors and AI software to detect sounds of chainsaws and tractors, signaling potential threats in real-time.
Venture Capital: Industry Ventures Closes On $1.7B In Commitments For Two Funds
Industry Ventures has successfully raised over $1.7 billion in two new funds aimed at assisting venture capital investors in achieving liquidity. The first fund, Industry Ventures Secondary X, has attracted over $1.45 billion in new commitments. The second, Industry Ventures Tech Buyout II, secured over $260 million in new capital commitments.
Digital Assets: Bernstein Expects Glowing Future For Crypto Industry
Bernstein’s recent analysis indicates that the crypto fund management industry currently stands at approximately $45-50 billion in assets. However, the firm foresees a substantial growth potential, with expectations that it could burgeon to a staggering $500-650 billion within the next five years. This projection is rooted in the belief that the cryptocurrency industry is evolving from its current status as a relatively small “cottage industry” to becoming a formally regulated asset management sector.
FinTech: Mercedes-Benz And Mastercard Launch In-Car Fingerprint Payments System In Germany
Mercedes-Benz (ETR: MBG) has teamed up with Mastercard (NYSE: MA) to introduce an innovative in-car payment system for customers in Germany. This groundbreaking technology allows drivers to initiate the fueling process directly from their vehicle and make digital payments using their fingerprint. This eliminates the need for PINs or mobile device authentication, providing a convenient and secure in-car payment experience.
Artificial Intelligence: French Billionaire Xavier Niel To Invest €200M On “European AI Champion”
French billionaire Xavier Niel is embarking on a significant €200 million investment in artificial intelligence (AI), aiming to bolster European tech competitiveness against global giants like the US and China. This initiative, led by Niel’s telecoms group Iliad, encompasses various projects designed to advance AI capabilities in Europe.
Venture Capital: Sierra Space Closer To Realizing Its Dream Chaser Spaceplane Ambitions With $300M Raise
Sierra Space, a subsidiary of private aerospace contractor Sierra Nevada Corporation, is in the final stages of securing a funding round of nearly $300 million, which values the company at approximately $5 billion. Japanese investors, including MUFG, Kanematsu, and Tokio Marine, are leading this equity round, along with substantial participation from existing investors.
Venture Capital: NATO’s Multi-Sovereign Venture Fund To Match China’s Support To Defense Startups
NATO, with the backing of a €1 billion venture capital fund, is set to bolster the technological prowess of defense startups, aiming to enhance the military capabilities of the US-led alliance and counter competition from China. Launched last year, this innovation initiative addresses the funding gap faced by tech companies involved in military-related technologies. It comes at a time when concerns loom about Western startups lacking the financial support enjoyed by their Chinese counterparts.
FinTech: European Businesses Get Loans Paid Faster Via Three-Way Collaboration Between Froda, Visa, And Checkout.com
Froda, a rapidly growing fintech based in Sweden, has entered into a transformative partnership with Visa (NYSE: V) and Checkout.com, heralding a new era for Visa Direct. This collaboration introduces innovative push-payment capabilities for business loans, paving the way for effortless transactions for European businesses.
Venture Capital: Top-Bracket VC Firm Dawn Capital Raises $700M For Tech Investing
Dawn Capital, a leading European investor in business software companies, has defied the current venture capital slump by successfully raising $700 million across two new funds. This achievement stands out because venture capital investment in tech startups has declined in recent times.
Artificial Intelligence: Amazon To Invest Up To $4B In AI Startup Anthropic
Amazon.com (NASDAQ: AMZN) announced a significant investment of up to $4 billion in the AI startup Anthropic to bolster its competitiveness in the field of artificial intelligence within the cloud market. This strategic move will grant Amazon’s employees and cloud clients early access to Anthropic’s technology, which they can integrate into their operations. Additionally, Anthropic will heavily rely on Amazon’s cloud services, including the utilization of proprietary chips from Amazon for training its future AI models.
FinTech: Square Preps Entry Into Canadian Weed POS Through Tie-Up With Jane Technologies
Square has entered the Canadian cannabis market through a strategic partnership with Jane Technologies, a prominent online ordering platform for cannabis dispensaries. This collaboration aims to address the needs of cannabis sellers in Canada, particularly by providing reliable and integrated commerce solutions.
Digital Assets: Stablecoin Issuer Tether Said To Invest $420M For 10K Of The Coveted H100 AI Chips
Tether, the company known for the world’s leading stablecoin, has made a strategic investment in Northern Data Group (ETR: NB2) through its subsidiary, Damoon. With an $83 billion market capitalization, Tether is diversifying its investments beyond fintech, including energy production, bitcoin mining, and communications technology.
Venture Capital: GGV Capital To Split In Two Amidst Simmering Sino-US Tensions
Venture investment firm GGV Capital is undergoing a restructuring into two independent entities, one focusing on Asia and the other on the US, a move similar to Sequoia Capital’s recent three-way split. This realignment of the firm’s business aims to address the challenges posed by mounting geopolitical tensions between the US and China.
Artificial Intelligence: Authors Guild, The Writers’ Trade Body, Sues OpenAI
In a recent legal development, the Authors Guild, representing 17 prominent authors including Douglas Preston, George R.R. Martin, and Jodi Picoult, has initiated a proposed class-action lawsuit against OpenAI, the entity behind ChatGPT. The crux of their complaint is that OpenAI unlawfully used their literary works to train ChatGPT without consent or compensation.
Artificial Intelligence: OpenAI Announces DALL-E 3, Integrated With ChatGPT
OpenAI’s latest creation, DALL-E 3, is making waves in the world of AI image synthesis. This cutting-edge model, unveiled on September 21, 2023, is a significant leap forward in terms of its ability to generate images that closely adhere to complex descriptions and handle in-image text generation, such as labels and signs. What sets DALL-E 3 apart is its remarkable fidelity to prompts, making prompt engineering largely obsolete.
FinTech: Brazilian Agro-Focused Fintech Nagro Raises $49M
Brazil’s agro fintech company Nagro has secured $49 million in funding from equity and debt sources, including Kinea Ventures and Revolution. The funding will be used to expand Nagro’s credit solutions for rural producers, focusing on credit analysis, risk monitoring, and digital credit allocations.
Digital Assets: Nomura’s Arm, Laser Digital, Launches Bitcoin Fund For Institutional Clientele
Nomura’s (TYO: 8604) digital assets subsidiary, Laser Digital, has unveiled its Bitcoin Adoption Fund, marking a significant move in the realm of institutional investment in digital assets. This fund represents the inaugural offering in Laser Digital Asset Management’s series of digital adoption investment solutions. It is designed to provide institutional investors with a streamlined avenue to tap into the digital asset class.
Venture Capital: HSBC Readies $1B Warchest For Funding ClimateTech Startups
HSBC (LON: HSBA) has made a significant commitment in the fight against climate change by pledging to provide $1 billion in financing to early-stage climate tech startups worldwide. This initiative aims to accelerate the development of innovative solutions in areas such as electric vehicle charging, battery storage, sustainable agriculture, and carbon removal technologies.
Fintech: As Meta Looks For Revenue, Whatsapp Launches An In-chat Payment Service For Indian Businesses
WhatsApp, under its parent company Meta (NASDAQ: META), is launching an in-chat payments service for businesses in India. This move aims to tap into the immense market potential of India and boost revenue for the messaging service. Users in India will now have the ability to make payments for products and services directly through WhatsApp.