EMEA Daily: Regional Central Bank Alliances May Shape the Digital Dollar’s Future; Amsterdam Startup ParkBee Closes $33M Financing Deal

In today’s top Europe, Middle East and Africa news, the Swiss-based Bank for International Settlements has completed trials of blockchain-based platforms, while Dutch startup ParkBee has closed a $33 million funding round.

Plus, trading automation platform Saphyre has raised $18.7 million in a Series A funding, and the U.K.’s Competition and Markets Authority has reminded Barclays and Lloyds they have violated their open banking obligations.

Regional Central Bank Alliances May Shape the Digital Dollar’s Future

Alongside four central banks, the Swiss-based Bank for International Settlements has completed trials of two blockchain-based platforms that a multinational central bank digital currency (CBDC) technical standard could be based on.

Nationally issued CBDCs, like the digital yuan and proposed digital dollar, could make retail and interbank payments easier, faster and cheaper. With the help of the central banks of Australia, Malaysia, Singapore and South Africa and several commercial banks, the project looks to delve into the governance, processes and technology needed to make that happen.

Amsterdam Startup ParkBee Closes $33M Financing Deal

ParkBee, a Dutch startup that transforms rarely-used parking spaces into bookable spots for the public, has closed a €30 million ($33 million) funding deal led by Netherlands-based clean energy investor Koolen Industries.

ParkBee CEO Werner Paul Boerma said the investment will allow the company to expand in Europe and accelerate transitioning the fleet to electric vehicles, with more charging options in parking garages. The startup operates in the Netherlands, the United Kingdom, Germany and Belgium.

Series A Brings $18M to Trading Platform Saphyre

Saphyre, an artificial intelligence (AI)-powered trading automation platform, has raised $18.7 million in a Series A funding round led by HCAP Partners.

The round was assisted by J.P. Morgan and BNP Paribas. Launched in 2017, Saphyre said it has garnered 104 patents and integrated with seven different platforms, with clients managing more than $3 trillion in assets.

CMA Warns Barclays, Lloyds to Comply With Open Banking Order

The U.K.’s Competition and Markets Authority has sent letters to Barclays and Lloyds to communicate the regulator’s concerns about the banks breaching their open banking obligations contained in the Retail Banking Market Investigation Order 2017.

As a result of a market study on the supply of retail banking services, in 2017, the CMA found that the market was not as competitive as it should be. It issued remedies to make it easier for consumers to compare prices and quality.