EMEA Daily: Sweden’s Kry raises $160 million


In today’s major Europe, Middle East and Africa (EMEA) news, Swedish company HealthTech Kry has raised over $160 million in a funding round. Additionally, GoCardless and Xero have teamed up to offer Instant Bank Pay to UK Xero customers, a UK bill can introduce stablecoins as part of the wider monetary system and more.

Ocado embarks on delivery expansion as UK shoppers head to stores

As customers reduce their online grocery orders and opt for in-store purchases over delivery, Ocado is considering adjusting its plans to expand the service in the UK.

Ocado CEO Tim Steiner said the recent opening of its new facilities in Bicester and Luton in England gives the company “great room for growth”. As Ocado’s expansion schedule is slowed, projects for fulfillment centers already in service are moving forward, Steiner said.

UK Financial Services Bill Will Make Stablecoins a Form of Payment

In the UK, stablecoins could soon become part of the monetary system if the new Financial Services and Markets Bill is approved in Parliament.

The UK government recently introduced a bill that will amend existing banking regulations to include stablecoins and other crypto assets, referred to in the Digital Settlement Assets Act (DSA), as part of the UK payment system.

Additionally, the proposed changes would lend legitimacy to DSA and allow the Bank of England to oversee these types of digital assets.

GoCardless will provide payment solutions to Xero customers in the UK

GoCardless, a digital payment solution, has partnered with Xero to provide its Instant Bank Pay feature to UK Xero customers.

Instant Bank Pay is an open banking feature integrated into the GoCardless global payments platform, and it will allow Xero users to receive one-time bank-to-bank payments from new and existing customers, GoCardless said in a press release. .

Stablecoins, CBDCs face big hurdles before eliminating Fiat

Obi Emetarom, co-founder and CEO of pan-African payments infrastructure company AppZone, believes that stablecoins and central bank digital currencies (CBDCs) are the future of money.

However, before replacing fiat, regulatory compliance and interoperability issues will first need to be addressed, he told PYMNTS in an interview. Once these hurdles are cleared, CBDCs could be a game-changer for payments in emerging markets.

Swedish telehealth company Kry raises $160 million

Kry, a Swedish HealthTech company, raised over $160 million in a funding round attended by Index Ventures, Accel, Creandum, Project A and others.

Founded in 2015, Kry is one of the largest telehealth software providers in Europe. It operates in Sweden, Norway and Germany, and in the UK and France it operates under the livi brand.

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