And we’re kicking off the week with new details on crypto, money transfer, fintech funding, payment process, debt crisis and more. Dive into the latest fintech insights and have a great start of the week!
The BNPL opportunity in Brazil – up-to-date perspectives on instalment payment methods (The PayPers)
Despite Brazil’s already well-established instalment payment methods, this new solution is gaining momentum among fintechs with underbanked and cardless customers. Vinícius Vieira of Bexs Pay details this momentum shift. Buy Now, Pay Later (BNPL) is one of the biggest trending topics in the payment ecosystem, as the number of people using the system grows across Europe and the US. Instalment payments are already a popular way of increasing purchasing power for both physical and online store sales in Brazil and other Latin American countries, especially for higher average ticket purchases. Read more.
Satoshi’s Mission, LUNA, UST and Where Crypto Went Wrong (CoinDesk)
In 2009, Satoshi Nakamoto encoded a mission statement for the industry in Bitcoin’s first block. Essentially, crypto should first do no harm. “But they, our ancestors, became arrogant and stiff-necked, and they did not obey your commands. They refused to listen and failed to remember the miracles you performed among them. They became stiff-necked and in their rebellion appointed a leader in order to return to their slavery.” Read more.
The LUNA and UST Crash Explained in 5 Charts (CoinDesk)
The Terra money machine collapsed almost entirely Wednesday. The UST stablecoin remains deep in the sub-dollar doldrums for the third day running, and LUNA, its sister token, has fallen almost 97% off its 2022 high. The near-complete failure of a darling of decentralized finance (DeFi) stands as an important lesson in the systemic risks of algorithmic stablecoins – crypto’s elusive Holy Grail. Read more.
JACK DORSEY’S BLOCK WANTS TO CREATE ECONOMIC EMPOWERMENT WITH BITCOIN (Bitcoinmagazine)
Block’s overarching purpose is to drive economic empowerment in the world and Bitcoin plays a central role in that mission, its chief executives said during the firm’s first Investor Day since 2017 on Wednesday. “We believe Bitcoin is going to have a profound impact on financial services, particularly as a tool for economic empowerment and as a global currency for the internet,” Block’s finance lead Amrita Ahuja said during the online event following a statement that the company has “just scratched the surface” for driving further adoption of bitcoin in the U.S. and globally. Read more.
Hackers can break into your iPhone even when it’s switched off (Techradar)
Cybersecurity researchers have discovered a way to run malware on Apple’s iPhones, even when the device is switched off. A report published by the Technical University of Darmstadt in Germany details an exploit that takes advantage of the iPhone’s low-power mode (LPM) to track location and perform various malware attacks. LPM allows certain smartphone facilities – such as Bluetooth, near-field communication (NFC) and or ultra-wideband – to run even when the device is turned off or when its battery is depleted. Read more.
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