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Fasanara Bi-Weekly Digest

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Fintech M&A, SME Finance in Saudi Arabia, Private Credit in Latin America, Greenwashing and Paxos





Fasanara has a front row seat to the evolving asset class of Fintech Lending and investing in the Digital Future. We’re constantly assimilating information, speaking with innovators, and developing our theses. Here’s a selection of important topics Fasanara has been discussing internally.




In this edition:


  • Fintech M&A activity

  • Evolving SME Business Finance in Saudi Arabia

  • Private Credit Is Targeting Void Left by Banks in Latin America

  • Greenwashing is impacting faith in ESG – can data be the saviour?

  • Paxos to stop minting BUSD stablecoins for Binance.




 

Fintech M&A Activity.



Consolidation is everywhere to be seen. On Friday, January 13, investment giant BlackRock announced it was acquiring a minority stake in SMB 401(k) provider startup Human Interest. The deal was just one of many M&A deals in the fintech space that occurred over the last weeks.




 



Evolving SME Business Finance in Saudi Arabia: Implications and Imperatives for Banks.



In Saudi Arabia, slowly but steadily, a fintech revolution is underway. The Arab Kingdom has locked its sight on an ambitious mission for a vibrant society and thriving economy, and digital SME business finance forms an integral part of it. The country has seen a 14.7x increase in fintech companies over 4 years, flying past its target of 60 fintech companies by 2030, to touch 147. In the past year itself, it saw 79% growth, with investments crossing USD 400 million.



 



Private Credit Is Targeting Void Left by Banks in Latin America.



Former Credit Suisse Group AG and Bladex bankers are launching a private credit fund focused on Latin America, hoping to use one of Wall Street’s hottest products to fill a void left by international banks cutting back on lending.




 


Greenwashing is impacting faith in ESG – can data be the saviour?



Greenwashing is still a widespread problem. As the pressures increase for firms to act sustainably, both through regulation and customer expectations, there is a risk more will look to embellish their green efforts.




 



Paxos to stop minting BUSD stablecoins for Binance.



Blockchain infrastructure platform Paxos Trust Company will halt the issuance of new Binance USD (BUSD) stablecoins amid the ongoing probe by New York regulators. Paxos officially announced on Feb. 13 that the firm would end its relationship with Binance for the branded U.S. dollar-pegged stablecoin BUSD. Starting from Feb. 21, Paxos will stop minting new BUSD tokens in accordance with directions and coordination with the New York Department of Financial Services (NYDFS).




 




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