Today In Payments Around The World: Vinted Lands More Than $300 Million In Funding; Safaricom Eyes Having Its Mobile Payments Service On Amazon

In today’s top payments news around the world, Vinted has landed more than $300 million from investors, while Safaricom is reportedly in talks about harnessing its mobile money service on Amazon’s eCommerce platform. Plus, Silvergate Bank will exclusively issue the Diem U.S. dollar-denominated stablecoin.

Secondhand Fashion Platform Vinted Nets $303 Million In Funding

Vinted, the secondhand clothing eCommerce platform, has raised 250 million euros, or just over $300 million, from investors in a Series F round. The EQT Growth-led funding round reportedly provides the firm with a 3.5-billion-euro (or approximately 4.2-billion-dollar) valuation. According to a published report, the infusion will go toward funding international growth – including bringing more workers on board, adding more memberships and strengthening infrastructure. Moreover, the infusion will go toward growing the firm’s new office in Berlin.

Safaricom Explores Using Its Mobile Payments Service On Amazon

Safaricom, the Kenyan telecommunications company, is reportedly in discussions about harnessing M-Pesa, its mobile money service, on Amazon’s online commerce platform. The move reportedly comes out of Safaricom’s international growth efforts to recovery from its first profit decline in a decade. Before the pandemic, M-Pesa had approximately 20.5 million clients. Safaricom is said to be easily the largest telecom firm in Kenya and the surrounding vicinity.

Silvergate Bank To Issue Diem’s Stablecoin

Silvergate Bank will be the only one to issue the Diem U.S. dollar-denominated stablecoin. “Silvergate is a leader in financial innovation and an ideal partner for Diem as we move forward with a blockchain-based payment system that protects consumers and enhances the integrity of the financial system,” Diem CEO Stuart Levey said in an announcement. While Diem didn’t say in a release when the U.S. stablecoin would be issued, it was reported in April that a token could come as soon as 2021. Diem Networks U.S. will operate the Diem Payment Network, according to a release.