Blockchain and crypto have been heavily criticized for its energy consumption. Proof of Work chains consume a huge amount of energy in the mining process, indeed in Bitcoin's case it's responsible for more energy consumption than Finland.
But blockchain and crypto are also tools than can be used as a force for good, to help fight climate change and bridge the gap between our financial system and nature.
The carbon credit market allows businesses and individuals to offset their emissions by purchasing credits from projects around the world that are removing carbon from the atmosphere.
The catch is that the system is affected by numerous flaws, including greenwashing, proof of impact, and some dubious pricing. Blockchain has to potential to bring more transparency and coordination in the field, as well as enable new models such as DAOs and nature-backed currencies.
We've mapped and analyzed over 50 blockchain and crypto for climate startups 👇
🔗 Crypto job posts on LinkedIn rocketed 395% in 2021 - LinkedIn. While most of the job postings were in software and finance, other industries are also seeing a rise in demand for crypto talent. These include professional services like accounting and consulting, as well as the staffing and computer hardware sectors.
🇨🇳 China to create own NFT industry based on state-backed blockchain infrastructure - South China Morning Post. This move is a major step towards a Chinese NFT industry that is not linked to cryptocurrencies. “Public chains”, like Bitcoin and Ethereum, are in fact “illegal in China” as the state requires all internet systems to verify user identities and permit the regulator to intervene in the event of “illegal activities”. 📉 On-demand pay lender Beforepay sink 44% on IPO - SMH. Have a read at Kane Jackson critic on how Beforepay is "dangerous, irresponsible and offensive to any sense of human decency".
💳 Coinbase and Mastercard partner to revolutionize NFT purchase experience - Coinbase. Users will be able to buy NFT directly with Mastercard on Coinbase NFT marketplace.
Latest fintech deals:
Thelargest this week
🇺🇸 Bolt, the one-click checkout provider for merchants, has raised a $355M Series E at an $11B valuation. Bolt is unbundling the “Amazon gold standard” buying experience and is expanding its products so that any business can not only have the one-click checkout, but also the seamless order tracking, fast returns, fast shipping and membership benefits — all technologies that gave Amazon an early advantage. More on it.
🇧🇭 MENA crypto exchange Rain raised $110 million in Series B funding round co-led by Paradigm and Kleiner Perkins with participation from numerous parties including Coinbase Ventures, Global Founders Capital, MEVP, Cadenza Ventures, and CMT Digital. Coinbase also led its $6M Series A in January 2021. Rain is one of the Middle East’s largest and first licensed cryptocurrency brokerage firms and custodians allowing users to buy, sell, and store cryptocurrencies.
Other notable fintech deals from around the globe:
🇺🇸 Payroll connectivity providerPinwheel has raised a $50M Series B Pinwheel serves neobanks and fintechs like Block, Acorns, and Current by providing application programming interfaces (APIs) linked to payroll, income, and employment data. The startup also snapped several senior hires from fintech infrastructure giant Plaid 👀
🇪🇸 Spanish neobank Myinvestor raised $20M from ANDBANK Spain, Axa Spain, El Corte Inglés Seguros and other private investors. The startup has quadrupled its investments business to 957 million and is progressing toward becoming a marketplace for investment products for its customers. Its mortgage business and remunerated accounts have also grown considerably, 60& and 37% respectively.
🇩🇪 Crypto derivatives exchange BitMEX to buy one of Germany's oldest banks Bankhaus Von der Heydt.
🇳🇱Levenue acquires Amsterdam-based fintech company Requr to consolidate its position in the revenue-based financing (RBF) market.
Tip of the week
We just released our corporate innovation ranking that scores corporates based on a mix of: portfolio size, R&D budget, number of acquisitions, number of tech stack users, and number of patents filed.
Job opportunities
2400+Frontend, Backend or full-stack development, DevOps or project management jobs at early-stage fintech startups such as BrightAnalytics and E-Potek.
And Dealroom.co is hiring for 17 positions, including Head of Research and Intelligence Analyst internship (Impact Specialist and Content Editor already hired🎉)
This is Dealroom's weekly fintech newsletter. Get more industry-specific intelligence on the evolving world of fintech, emerging trends, and game-changing startups. Delivered on Wednesdays.
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