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Citat:
A Swedish fintech backed by billionaire Mohammed Al Amoudi says it’s found a solution to one of the biggest nightmares of an increasingly cashless world: what happens if the Internet goes dark and we can’t use our phones or cards?
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Citat:
The company has the potential to become another Klarna Bank AB, now Europe’s most valuable startup, Goran Linder, chief executive officer of Midroc in Sweden, said in an interview. Crunchfish now has a market value of $112 million.
“Ultimately, I anticipate this to be integrated with all payment schemes, including mobile money,” Linder said. “People who have never been able to open up a bank account, they do have a phone.”
Going Cashless
The Bank for International Settlements has dubbed Sweden the world’s most cashless society. The virtual disappearance of cash in Sweden has spurred a fever of innovation within digital payments, including by the Riksbank itself. Along with China, Sweden leads major economies in developing a central bank digital currency.
Crunchfish is swimming in a crowded pond. Sweden has as many as 200 fintech companies focused on payments, according to Louise Grabo, the secretary general of the Swedish Financial Technology Association. “Their product is getting more attention nowadays, as we become a cashless society,” she said.
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