Tearsheet provides daily summaries of the top news stories and events, like this piece, in a nifty, neat, nicely-packaged daily email. Stay informed. Subscribe here.
Thinking through the impact of Elon Musk’s acquisition of Twitter on Dogecoin
Elon Musk successfully inked the deal to acquire one of the popular social media platforms by fighting off multiple legal challenges – and agreed to pay $44 billion for Twitter, which comes out to $54.20 a share.
Twitter accepted the terms of the deal, but it was unclear how the financing scheme or go-private deal would be structured – some experts speculate the company will soon be privately held under Musk’s control.
Although Elon has worked with the Dogecoin developers in 2021, the recent Twitter acquisition has many people wondering about the future of Dogecoin — will it find a big partner in Twitter?
The latest briefing
Payments Briefing: ‘We penetrated the blue ocean opportunity of the Spanish-speaking market’ – NovoPayment’s Anabel Perez
Banking as a service provider NovoPayment, which has been around since 2007, recently raised its first venture round in 15 years to scale its platform across the US, as well as internationally.
Headquartered in Miami, Florida, NovoPayment is an API-based platform that provides digital banking, payment and card solutions to banks, fintechs, merchants, and other service providers. 2021 was an important year for the firm, as it saw a 40% increase in client growth, including collaborations with major financial players such as Visa and Mastercard.
The firm’s co-founder and CEO, Anabel Perez, is a Venezuelan-born entrepreneur. Trained as a banker but a “techie at heart”, Anabel has more than 25 years of experience in banking and payments. She gives an insight into why she created NovoPayment, the significance of Miami as a new fintech hub, and her plans for the firm’s future.
Read more (exclusive to Outlier members)
Just look at the charts
1. Global QR code transaction values to exceed $3 trillion by 2025
Source: Karthick Chandrasekar
2. Top growing apps engaged in one or more user acquisition strategies
Source: David Jimenez Maireles
Google Chrome is getting built-in virtual credit cards
Google announced that its Chrome browser will now offer users the ability to use a virtual credit card number in online payment forms on the web (TechCrunch)
PayPal, Venmo now in-store POS payment options
The new PayPal Zettle POS service lets users accept PayPal and Venmo in-store without having to go through many technical adjustments (PYMNTS)
Klarna rolls out hybrid work policy
BNPL giant Klarna is introducing a flexible working policy that lets employees pick between staying at home or going to the office (Finextra)
Wall Street brokers probe into FTX futures trading plan
Wall Street’s biggest brokers have warned US regulators that a proposal by cryptocurrency exchange FTX to automate risk management in the leveraged futures market lacks sufficient detail to be approved in its current form and could prove disruptive (Financial Times)
The near-complete failure of LUNA and UST
The Terra money machine has collapsed almost entirely — 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 (CoinDesk)
Stay ahead of the game with Outlier — Tearsheet’s exclusive members-only content program and join the leading financial services and fintech innovators reading us every day.