Stay up to date with the latest news from the Netherlands! Enjoy reading!
Dutch people spend billions online: about a million purchases per day (NU)
Dutch consumers made a staggering 365 million online purchases last year, averaging one million orders per day, with a notable increase in spending at foreign online stores, totaling nearly 4 billion euros, up by 13 percent from the previous year. Chinese web shops, including AliExpress and Temu, saw a surge in popularity, accounting for 22 percent of all digital purchases abroad. This trend marks a reversal from the decline observed after the VAT exemption for Chinese products was abolished in 2021. The appeal of Chinese web shops lies in their competitive prices, posing a challenge for Dutch e-commerce companies. Despite the rise in foreign purchases, domestic online spending remains substantial, particularly in the travel sector, with a notable increase in holiday bookings, attributed to both inflation and increased travel activity. Read more
ServiceNow Announces Acquisitions of 4Industry and EY Smart Daily Management Application to Drive Innovation for Smart Industrial Environments and Connected Workers (BusinessWire)
ServiceNow has announced its acquisition of 4Industry, a Netherlands-based partner specializing in manufacturing technology applications, and the completion of the acquisition of Smart Daily Management, a connected digital worker application from EY. These acquisitions aim to bolster ServiceNow’s operational technology (OT) management capabilities, particularly in manufacturing, energy, and transport & logistics sectors. 4Industry brings mobile-enabled applications to streamline shop floor work, while Smart Daily Management enhances efficiency around tasks. These technologies will be leveraged to develop a new Connected Worker solution on the ServiceNow platform by 2025. This investment aligns with ServiceNow’s commitment to digital transformation and its strategy to deliver impactful automation solutions to customers globally. Read more
New trick for scammers: calling on behalf of the central bank DNB (RTLNieuws)
Consumers and businesses are being targeted by scammers posing as employees of De Nederlandsche Bank (DNB), warns the central bank. These scammers employ various tactics, including spoofing, to deceive victims into transferring money or providing access to their accounts. They may request the installation of malicious software or ask for PIN codes under false pretenses. To establish trust, the scammers mimic DNB’s phone numbers and may refer to the bank’s website. DNB advises vigilance and provides tips to identify fraudulent communications, which often involve email or text message requests for urgent money transfers. Read more
AFM fines broker Binck for chaos after merger with Saxo (FD)
Broker Binck faces fines from the Dutch financial regulator, the Autoriteit Financiële Markten, following sanctions related to the sale of high-risk products. Now, fines are looming due to administrative chaos following the merger with Saxo Bank. Both the Dutch regulator and the French watchdog, AMF, are considering multiple fines. Additionally, customers are dissatisfied with the broker, threatening lawsuits and demanding compensation. Binck’s revenue has significantly declined as customers are conducting fewer transactions on the broker’s platform. Read more
Mintos expands its reach to France and the Netherlands (Fintech Global)
Mintos, known for its blend of alternative and traditional investment opportunities, has expanded its presence into the French and Dutch markets, following successful ventures in Germany, Italy, and Spain. With over 500,000 users across Europe and €600m in assets under administration, Mintos is capitalizing on the growing interest in investment activities in both countries. In France, where diversification is a key driver for 35% of new investors, Mintos aims to become the preferred platform for stable portfolio growth. Similarly, in the Netherlands, where approximately 1.9 million households are actively involved in investments, Mintos sees significant potential for wealth management and financial planning awareness. Mintos stands out with features like Fractional Bonds and managed ETF portfolios, offering investors accessible and diversified options for long-term returns, setting it apart in the European investment platform sector. Read more
Amsterdam’s D2X raises €9.1M; gets MiFID MTF Licence for Crypto Derivatives (Silicon Canals)
Amsterdam-based D2X, a crypto derivatives exchange catering to institutions, has raised $10M (approximately €9.1M) in a Series A funding round led by Point72 Ventures, with participation from GSR Markets and existing investors. D2X has obtained a MiFID MTF license from the Dutch Authority for Financial Markets (AFM), making it the first entity in the European Union to do so for cryptocurrency derivatives. This license allows D2X to operate a regulated trading venue for cash-settled crypto futures and options. Additionally, D2X has partnered with a Tier-1 EU credit institution to offer off-exchange collateral accounts and 7-day trading, launching in Q2. The company aims to bridge traditional finance and the digital asset ecosystem by providing regulated trading options for institutional investors, with an initial focus on EUR-denominated BTC and ETH derivatives. Theodore Rozencwajg, Co-Founder & Chief Commercial Officer at D2X, emphasizes the platform’s role in addressing the trade-off institutions face between regulated venues and crypto-native exchanges. Point72 Ventures, an every-stage global VC fund, sees potential in D2X’s mission to revolutionize the crypto derivatives market and supports its dedication to providing a regulated trading environment for institutions. Read more
Tornado Cash Dev Pertsev’s $1.2B Money Laundering Allegations Detailed Ahead of Dutch Trial (CoinDesk)
Dutch prosecutors have accused Russian developer Alexey Pertsev of laundering $1.2 billion worth of crypto through the anonymizing tool Tornado Cash, as detailed in an indictment shared ahead of his trial on March 26. The indictment lists 40 suspicious transfers, including the largest sum originating from the Axie Infinity Ronin exploit. Pertsev, along with Tornado Cash developers Roman Storm and Roman Semenov, faces allegations of money laundering and sanctions violations. Storm has pleaded not guilty to charges in the U.S., while Semenov remains at large. Pertsev’s arrest in 2022 sparked concerns among developers about incriminating software developers, leading to a public outcry. The trial is set to take place at a ‘S-Hertegonbosch court. Read more
Dutch startup Altura secures €3M for its AI-powered bid management software: Know more (Silicon Canals)
Utrecht-based Altura, a tendering platform, has secured €3M in funding led by investors Matthijs Huiskamp and Jordi van der Hek, with participation from Curiosity VC and Fortino Capital. Altura’s AI-powered software simplifies bid management processes for government agencies and organisations by automating proposal creation and management. With a focus on transforming interactions between parties in B2B collaborations, Altura aims to become a category leader in bid management efficiency and effectiveness. The funding will be used to enhance the software, expand the team, and introduce additional products to streamline processes and improve quality. Read more
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