Today in payments around the world, Polish eCommerce firm Allegro will acquire Czech retailer Mall Group for $1 billion, and a European Central Bank board member explains his optimism about the digital euro. Plus, Colombian delivery app Rappi is set to go public next year, El Salvador pours bitcoin profits into health and education, and France partners with Binance in a €100 million initiative.
Poland’s Allegro to Pay $1B for Czech Retailer Mall Group
Polish eCommerce firm Allegro intends to create a regional platform through a $1.02 billion purchase of the Czech online retailer Mall Group, according to a Friday (Nov. 5) Reuters report.
The deal will see Allegro acquire Mall Group’s eCommerce assets, along with the logistics assets of WE|DO from Jakub Havrlant’s Rockaway Capital investment group, PPF Group and Daniel Kretinsky and Patrik Tkac’s EC Investments.
European Central Bank Board Member Optimistic About Digital Euro
European Central Bank (ECB) executive board member Fabio Panetta has promised that the digital euro will be appealing to users and won’t be overwhelmed by other private payment types, according to a Bloomberg report on Friday (Nov. 5).
The ECB is working with the European Commission on “a broad range of policy, legal and design questions” related to the digital euro, and will explore what would happen if the currency is made legal tender across the continent.
Colombian Delivery App Rappi to Go Public Next Year
Juan Pablo Ortega, co-founder of Colombian delivery app Rappi Inc, told Bloomberg at the Web Summit conference on Friday (Nov. 5) that the company is planning its initial public offering (IPO) for late 2022.
Rappi, which is backed by SoftBank Group Corp., “held informal conversations with banks, and plans to hire advisers and prepare its listing paperwork in the first half of 2022,” per the Bloomberg report.
El Salvador Pours Bitcoin Profits Into Health and Education Amid Ongoing Chivo Wallet Fraud Furor
After President Nayib Bukele purchased 420 additional bitcoins for about $25 million last week, El Salvador now has 1,100 of the coins, up from the first 400 announced in early September.
The purchase comes amid pledges by Bukele’s New Ideas political party to crack down on fraud and pump bitcoin-generated profits into public projects, including new schools and the nation’s first public veterinary hospital. However, these assurances have done little to alleviate public anxiety around El Salvador’s Chivo Wallet, which has been tarnished by a swathe of fraud reports and other complaints since its rollout.
France Partners With Binance in €100M Initiative to Take Crypto and Blockchain to the Moon
The French government has taken a keen interest in virtual currencies, teaming up with private players to boost the development of cryptocurrency and blockchain in the country.
On Thursday (Nov. 4), France FinTech, a leading nonprofit association aimed at promoting FinTech growth in France, and the international cryptocurrency giant Binance jointly announced the launch of a €100 million ($115.4 million) initiative called “Objective Moon.”
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