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Porsche Acquires German 🇩🇪 E-bike Company Fazua

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German automaker Porsche has announced that it will acquire Fazua, a German-based e-bike drivetrain maker specializing in lightweight motors.

As part of the acquisition, Porsche would be acquiring all of Fazua’s shares after purchasing a 20% stake in the company earlier in January this year.

With this move, the automaker will have one more e-bike company under its control. Last year, Porsche acquired a majority stake in Croatian e-bike company Greyp.

“In Fazua, we have found a strong partner with a great deal of experience in the bicycle industry,” said Lutz Meschke, Deputy Chairman of the Executive Board of Porsche AG and Member of the Executive Board for Finance and IT. “Fazua is known among experts as the founder of the ‘light eBikes’ category — and it’s a highly innovative company that fits perfectly with the pioneering spirit of the Porsche brand,” he added.

This deal comes at a time of accelerated growth in the e-bike world. Fazua is an exciting acquisition for Porsche and could indicate the direction of the automaker’s future line-up of e-bikes.

Amazon Enters Into AR Shopping With Launch of ‘Virtual Try-On for Shoes’ 👞🥿

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E-commerce giant Amazon is getting into augmented reality (AR) by launching a new feature called ‘Virtual Try-On for Shoes’ that will let shoppers visualize how a pair of new shoes will look on themselves from multiple angles using their mobile phone’s camera.

The new feature is currently available for iOS users in the United States and Canada on the Amazon shopping app.

At launch, the feature will be available across thousands of styles from brands like New Balance, Adidas, Reebok, Puma, Saucony, Lacoste, and Asics, among others.

Amazon says the feature will help brands to better showcase their products and will also help customers make purchase decisions.

To use the new feature, you have to tap on the new “Virtual Try-On” button below the product image on your device.

Within this experience, shoppers can seamlessly change the colors of the selected footwear by scrolling through the carousel of options without ever leaving the experience.

They can even take a photo of the virtual shoe they are trying on and share it with friends through social media.

Lithuania 🇱🇹 to Tighten 🔧 Regulations on Crypto Market

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Lithuania is planning to tighten its scrutiny over digital assets as the country attempts to fight the risks of money laundering and the war against terrorist financing.

As announced by the local Ministry of Finance, various ministries of the Lithuanian government approved legal amendments to Anti-Money Laundering (AML) and countering the financing of terrorism in the crypto sector.

The amendments to the present law should be later approved by Lithuania’s legislature Seimas.

“The proposed changes will ensure greater transparency and higher quality standards in the sector, contributing to the sustainable integration of the cryptographic asset segment into the country’s wider Fintech ecosystem,” said Minister of Finance Gintarė Skaistė in a statement.

If approved, the new regulations will also tighten up demands for exchange operators from January 1, 2023.

In addition, the exchange operators will be required to register a corporate body with nominal capital amounting to an initial limit of 125,000 Euros.

Further, the senior management of the entities should be the permanent residents of Lithuania.

Digital Banking Startup Klar Raises $70 Million in Series B 💰

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Klar, a Mexico-based digital financial services platform allowing users to manage their money in a secure and personalized way, has raised $70 million in its Series B funding round.

The funding was led by General Atlantic along with participation from Prosus Ventures, Quona Capital, Mouro, IFC, Acrew, WTI, and Endeavor Catalyst.

Founded in 2019 by Stefan Moller, Daniel Autrique, and Gianluigi Davassi, Klar is focused on reinventing the Mexican financial services industry and expanding access to digital banking with its services.

The startup offers numerous solutions for consumers spanning all financial needs, including spending (with credit, mobile payments & rewards programs) and borrowing (with personal loans, salary advances & buy now, pay later services).

The platform has added 1.4 million customers in the past 12 months alone.

Klar plans to use the capital to further enhance its platform with innovative solutions, explore strategic acquisitions, deepen its ecosystem by reaching more customers via new distribution avenues, and invest in its team and talent.

Around the Web 🌐

Binance Seeks Critical Licenses to Operate in the Philippines: Crypto exchange platform Binance is looking to obtain a ‘Virtual Asset Service Provider License’ and an ‘E-money Issuer License’ in the Philippines. The two essential licenses will reportedly help the company expand its presence in the country, a major market in Southeast Asia.


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