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Commerzbank operates primarily in Europe. Germany contributes about 70% to total income. The bank operates two business segments: private and small-business customers as well as corporate clients. In its private and small-business segment, the group runs its branch business, a mobile bank with a focus on the Polish market, an online broker, and an asset manager for physical assets. Its corporate client business provides cash management and trade finance solutions to small and medium-size enterprises and large corporates.

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Commerzbank AG

Welcome to the March 2025 update of the Perfect Stocks portfolio.
I am about a week late getting this month's update out, but this is a long-term portfolio, and a week here or there really does not matter all that much.
I am running late because we old out Florida property last week, We are digital nomads for the time being, hanging out down in South Texas at my in-laws' place. The dogs love it, the Gulf is close, and it is not hurricane season.
Hard to beat that.
We will be settling in North Carolina in a couple of months and finding a new perfect abode.
The portfolio managed a one percent gain for March, not counting dividends.
The yield is sitting around 4.09%now.
That is a solid showing considering U.S. stocks have taken a hit, down around three percent for the month. Europe, on the other hand, was up 1.89 percent, Japan up 2.53 percent—Japan leading the way again this month. Canada posted a 1.64 percent gain despite tariffs and weaker economic data, while China, no surprise, lagged badly—down 4.74 percent for the month.
Here in the United States, it has been all about tariffs, tariffs, and more tariffs.
Forget AI, data centers, infrastructure, and EV.
None of that is driving markets right now. It is Trump's trade policy that is dominating every conversation. The prospect of a trade war with just about everyone is casting a big shadow over the economy.
On top of that, we are looking at 300,000 government layoffs. The exact number laid off depends on who you ask, but for every government worker gone, figure three to five contractors and private sector folks tied to those agencies will get hit. That is a serious concern.
There is also the immigration issue. Not the border crossings or smuggling. I am talking about legal immigration. The pace has slowed, and that is a problem.
High legal immigration filled jobs without pushing up wages too much. Cut that down, and you have job market problems.
Put all this together, tariffs, declining immigration, sticky inflation that has been around long before Donald Trump moved back to Washington, and we are staring down the barrel of stagflation.
Mild stagflation looks inevitable now, and that is the biggest fear out there. It is tough to hit the administrations political and fiscal goals without running into that wall.
The result? Volatility. Every new memo, executive order, or tweet from the White House is swinging the market around. I expect that to continue. Our job is simple—take advantage of it without letting fear or greed take over.
Europe, which is now the biggest piece of the Perfect Stocks portfolio, continues to tell the same story. Eurozone inflation is stickier than the ECB hoped, coming in hotter than expected thanks to rising services and wages, especially in Germany and France.
Still, markets are pricing in cuts from the ECB, but those cuts are not coming anytime soon. Expectations are shifting out to June or later. Lagarde and company are staying cautious. Between Ukraine, defense spending, and wage growth risks, they have plenty to worry about.
Germany and France remain the sick men of Europe. Industrial production is weak, exports are soft, and consumer confidence is in the basement. Germany's economic policy mistakes, especially around energy, have hammered consumer faith. The debate in Berlin is now whether to keep the austerity policies that gutted the economy or finally turn on the stimulus spigot.
France lost its AAA credit rating thanks to rising debt and protests over Macron's reform. That is a headline we could have run any year in the last five.
The UK's officially in recession.
The Bank of England's signaling three more cuts by mid-September. Inflation's falling, but so are housing prices and employment levels.
Still, bad markets are the best time to buy. Euro stocks just hit a 23-year high on the back of tech, luxury, and energy. Financials lagged due to rate cut sluggishness, but there has been a big rotation into cyclicals, setting up a rebound.
Incredibly, Italy's leading the pack thanks to stable politics and strong banks printing money.
Europe and Japan today remind me a lot of the U.S. in the 1980s. Both are coming out of tough times, cheap assets, no faith in the government. Back then, the vultures circled. Today, it is private equity, activists, and restructuring experts. They are busy. Telecom Italia's in play. Utilities and industrials are being picked apart. European real estate, offices, hotels, multifamily, is dirt cheap compared to the U.S., and private equity's scooping it up fast.
Up in Canada, the Bank of Canada held rates steady this month. They are open to cuts starting this year. Inflation cooled, mostly thanks to energy prices falling. Service inflation is still sticky. Markets see two or three cuts coming, maybe starting in early summer.
&nbsp;But the real story is economic weakness. Growth's flat to negative lately. Add in tariffs and you have mild-to-severe recession fears. Consumers are pulling back, housing prices are falling, especially in the big markets, while rents keep rising.
High debt loads and weak loan growth have bank stocks dancing on a knife's edge, supported mostly by rate cut hopes.
The worse the news, the more stocks we find that are cheap enough to buy. We have had a market-beating start to the Perfect Stocks adventure, collecting dividends and watching several of our names absolutely slaughter the market. Among our leaders:
Magellan Aerospace (Ticker: MGALF) Canadian aerospace and defense company. They do complex systems, engine components, assemblies, space and satellite systems, and maintenance. Tier one supplier to Boeing, Airbus, Lockheed, Rolls, Raytheon, and Pratt &amp; Whitney. They are in the F-35, satellites, and the 737 Max. Cash flow's steady, dividend is solid, and the military/space exposure is only going to grow.
Commerzbank (Ticker: CRZBY) Old-school German bank, Frankfurt-based. They needed a bailout during the financial crisis but have steadily rebuilt. They are sticking to core business—trade finance, capital markets, corporate lending—and rolling out a digital platform. Loaded with capital, dividend back on. If Germany becomes organized, Commerzbank will soar.
China Yuchai (Ticker: CYD) They make big engines—trucks, buses, ships, generators. Heavy-duty diesel, marine, construction, ag, you name it. They are a major player in China's off-road and marine markets and sell into Southeast Asia and Africa. Solid balance sheet, piles of cash, and a 3% dividend. A rare Chinese company that actually looks financially sound.
Other standouts include THK, Central Pareto, and NACO Industries—all of them crushing the market.
Quick news hits:
Porsche SE (Ticker: POAHY) has cash and control of Volkswagen. They are launching an infrastructure fund—think toll roads, energy assets, defense—and pushing money into Volkswagen.
Fresh Del Monte bought an avocado oil business out of Uganda. Fits nicely with their fruit business and avoids Mexican tariffs. Great margins and growth potential.
Maersk (Ticker: AMKBY) inked a 33-year extension at the Elizabeth Terminal in New Jersey, dropping $500 million into upgrades.
Neo Performance Materials (Ticker: NOPMF) is posting 70% cash flow growth, selling off non-core businesses, and focusing on core high-growth, high-margin materials markets. Rock-solid balance sheet.
That is the rundown.
The Perfect Stock approach—deep value, high margin of safety, dividends—is classic Benjamin Graham. It is working.
We are beating the (Ticker: SPY) by a healthy margin and expect that to continue. If the market tanks, our financial strength, and dividends will carry us through.
We will be back next month with a full rebalance. Spoiler alert: most of the portfolio stays. A few winners have run far enough we will be selling and replacing. Thanks for sticking with the Perfect Stocks adventure here on Benzinga Edge. See you next month.

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The Perfect Stocks Portfolio: March 2025 Update

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Global Payments And Commerzbank Announced A Joint Venture To Offer Digital Payment Solutions To Small And Medium Size Business Customers Across Germany

Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/07/33111788/apple-loses-appeal-over-4g-patent-infringement-in-london-court-optis-scores-another-victory" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Apple Loses Appeal Over 4G Patent Infringement in London Court, Optis Scores Another Victory</a>
<ul>
<li>Apple Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) overstepped two telecommunications patents used in devices, including iPhones and iPads, London&#39;s Court of Appeal ruled on Tuesday, dismissing the iPhonemaker&#39;s appeal in a long-running dispute.</li>
<li>Optis Cellular Technology LLC&nbsp;prosecuted Apple in 2019 over its use of patents, which Optis says are critical to specific technological standards, like 4G.</li>
<li>The legal battle between Apple and Optis began in 2019, prompting six separate trials and several appellate hearings in Britain alone.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/07/33112711/deutsche-bank-commerzbank-slammed-with-348m-suit-by-russian-gas-giant-subsidiary-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Deutsche Bank, Commerzbank Slammed With $348M Suit By Russian Gas Giant Subsidiary</a>
<ul>
<li>Deutsche Bank AG&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/db#NYSE">DB</a>) and&nbsp;Commerzbank AG&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/crzbf#OTC">CRZBF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/crzby#OTC">CRZBY</a>) are slammed by a lawsuit worth ₽31 billion ($348 million) by RusKhimAlyans, a Russian gas giant Gazprom&#39;s subsidiary.&nbsp;</li>
<li>In particular, RusKhimAlyans is asking for over ₽22 billion from Deutsche Bank and over ₽8 billion from Commerzbank, Reuters reported citing documents filed at the Court of Arbitration of St Petersburg and the Leningrad Region.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/07/33112261/why-is-nikola-stock-trading-lower-wednesday" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Nikola Seeks To Liquidate Battery Maker Romeo Power</a>
<ul>
<li>Nikola Corp&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/nkla#OTC">NKLA</a>) stock is trading lower Wednesday after reports indicated its plans to liquidate the assets of battery maker Romeo Power less than a year after buying it.</li>
<li>The electric truck maker struggled to satisfy investors amid overblown costs of commodities and tight access to capital since 2022.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/07/33113476/pfizer-and-soth-koreas-samsung-biologics-ink-900m-partnership-for-biosimilar-production-details" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Pfizer and South Korea&#39;s Samsung Biologics Ink $900M Partnership for Biosimilar Production: Details</a>
<ul>
<li>South Korean contract development and manufacturing organization&nbsp;Samsung Biologics&nbsp;and&nbsp;Pfizer Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfe#NYSE">PFE</a>) have signed two agreements for the long-term manufacturing of Pfizer&#39;s multiproduct biosimilar portfolio, worth $897 million.</li>
<li>The two deals include a $193 million deal and a $704 million deal - Samsung Biologics&#39; most significant single contract since its inception in 2011.&nbsp;</li>
<li>Including a $183 million deal signed in March, the combined value of Samsung Biologics-Pfizer deals this year amounts to $1.08 billion.</li>
</ul>
&nbsp;
Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/07/33113188/airbus-opens-new-technology-hub-at-filton-site-to-design-wings-for-next-generation-aircrafts" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Airbus Opens New Technology Hub At Filton Site To Design Wings For Next Generation Aircrafts</a>
<ul>
<li>Airbus SE&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/eadsy#OTC">EADSY</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/eadsf#OTC">EADSF</a>) is investing further in its U.K. innovation capabilities, with the opening of a new Wing Technology Development Centre (WTDC) at its Filton site in southwest England.</li>
<li>The new facility will help Airbus accelerate the design of wings for next-generation aircraft. Nusrat Ghani, U.K. Minister of State at the Department for Business and Trade, opened the facility.&nbsp;</li>
<li>Alongside engine optimization, making wings longer, leaner and lighter is one of the most significant opportunities to improve fuel efficiency.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/07/33113232/what-can-drive-tsmcs-revenue-rebound-strong-demand-for-ai-chips-from-nvidia-broadcom-amd" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">What Can Drive TSMC&#39;s Revenue Rebound? Strong Demand for AI Chips from Nvidia, Broadcom, AMD</a>
<ul>
<li>Taiwan Semiconductor Manufacturing Company Ltd&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tsm#NYSE">TSM</a>) expects a significant revenue rebound in the year&#39;s second half.</li>
<li>The launch of new&nbsp;Apple Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) iPhones and strong demand for AI chips from&nbsp;Nvidia Corp&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>),&nbsp;Broadcom Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avgo#NASDAQ">AVGO</a>), and&nbsp;Advanced Micro Devices, Inc&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/amd#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AMD</a>), with robust wafer-start momentum is likely to trigger the rebound.</li>
<li>Companies like TSMC had a challenging start during 2023 due to supply chain disruptions, weak demand further intensified by U.S. sanctions on Chinese industries, and the Russian-Ukraine conflict.&nbsp;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/07/33096212/rivian-stock-is-racing-higher-whats-going-on" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Rivian Automotive Reported Q2 Production, Delivery Numbers</a>
<ul>
<li>Rivian Automotive Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rivn#NASDAQ">RIVN</a>) said it produced 13,992 vehicles in the second quarter, up from 9,395 in the first quarter. The company reported second-quarter deliveries of 12,640 vehicles, up from 7,946 in the first quarter. Rivian&#39;s production and delivery numbers were in line with company expectations.&nbsp;</li>
<li>Rivian said it believes it&#39;s still on track to meet its previously provided annual production guidance of 50,000 vehicles.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/07/33112669/evotec-secures-us-government-contract-for-orthopoxvirus-antibody" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Evotec Secures US Government Contract For Orthopoxvirus Antibody</a>
<ul>
<li>The U.S. Department of Defense (DOD) has awarded&nbsp;Evotec SE&#39;s&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/evotf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">EVOTF</a>) (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/evo#NASDAQ">EVO</a>) Seattle-based subsidiary,&nbsp;Just - Evotec Biologics Inc&nbsp;a contract valued up to&nbsp;$74 million&nbsp;for the rapid development of monoclonal antibody (mAb)-based drug product prototypes targeting orthopoxviruses.</li>
<li>Under the contract, Just - Evotec Biologics will develop drug product prototype(s) from discovery through the execution of Phase 1 first-in-human trials.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/07/33112710/mondel-z-recalls-two-varieties-of-belvita-biscuits-in-us-over-peanut-contamination" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Mondelēz Recalls Two Varieties Of belVita Biscuits In US Over Peanut Contamination</a>
<ul>
<li>Mondelez International Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mdlz#NASDAQ">MDLZ</a>) Mondelēz Global LLC has voluntarily recalled two varieties of&nbsp;belVita Breakfast&nbsp;Sandwich&nbsp;products produced in the U.S. and sold nationwide.</li>
<li>The move to recall is due to the possibility of the products containing undeclared peanuts resulting from cross-contact on a single manufacturing line which came to light on an internal manufacturing inspection.</li>
<li>No other belVita products, Mondelēz Global LLC products, or markets outside the United States are included in or affected by the recall.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/07/33113618/warren-buffett-backed-byd-plans-to-invest-620m-in-brazils-cama-ari-industrial-complex" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Warren Buffett-Backed BYD Plans To Invest $620M In Brazil&#39;s Cama&ccedil;ari Industrial Complex</a>
<ul>
<li>Warren Buffett-backed Chinese EV giant&nbsp;BYD&nbsp;Co&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/byddy#OTC">BYDDY</a>) (OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/byddf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BYDDF</a>) plans to start operations in three factories simultaneously in the Bahis&#39;s Cama&ccedil;ari industrial complex, 50 km from Salvador in Brazil.</li>
<li>With an investment of over 3 billion reais (~$620 million), the development will generate more than 5,000 jobs for years.&nbsp;</li>
<li>The three factories are scheduled to start operations in the second half of 2024.</li>
</ul>
&nbsp;
Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/07/33111339/alibaba-conducts-strategic-review-of-youku-and-tudou-amidst-rivalry-with-baidu-and-tencent" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Alibaba Conducts Strategic Review of Youku and Tudou Amidst Rivalry with Baidu and Tencent</a>
<ul>
<li>Alibaba Group Holding Limited&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>) weighed options for its video entertainment assets. The company is conducting a strategic review of video streaming platforms Youku and Tudou.&nbsp;</li>
<li>It also evaluates options to inject the assets into Alibaba Pictures Group Ltd and bolster its scope.&nbsp;</li>
<li>Alibaba eyes a family of standalone leaders in businesses from e-commerce and media to cloud and logistics.&nbsp;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/07/33113441/ups-drivers-consider-going-on-strike-after-failed-labor-talks-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">UPS Drivers Consider Going On Strike, After Failed Labor Talks</a>
<ul>
<li>United Parcel Service Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ups#NYSE">UPS</a>) workers are reportedly heading towards a strike, as no agreement could be reached between the company and Teamsters.</li>
<li>A potential strike by more than 300,000 UPS drivers threatens to disrupt the U.S. supply chain.&nbsp;</li>
<li>Weeks-long talks between UPS and the Teamsters fell apart early Wednesday morning in Washington after stretching through the July 4 holiday, with beleaguered negotiators emerging to say the talks had collapsed.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/07/33111471/omv-adnoc-in-talks-to-create-over-30b-chemicals-plastics-firm-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">OMV-ADNOC In Talks To Create Over $30B Chemicals &amp; Plastics Firm</a>
<ul>
<li>Austria&#39;s&nbsp;OMV AG&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/omvky#OTC">OMVKY</a>) (OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/omvjf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">OMVJF</a>) is in talks with&nbsp;Abu Dhabi National Oil Co. (ADNOC)&nbsp;to combine the companies, Borouge Plc and Borealis AG, to form a chemicals and plastics company worth over $30 billion.</li>
<li>The firms are discussing the potential valuation and ownership structure of a combined entity and may reach the formal merger terms in the coming weeks.</li>
<li>OMV owns 75% of Borealis is 75%, while ADNOC holds the remaining.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/23/07/33112019/haleon-contemplates-sale-of-non-core-businesses-including-nicotinell-brand-a-strategy-shift-towards" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Haleon Contemplates Sale of Non-Core Businesses, Including Nicotinell Brand: A Strategy Shift Towards Core Products</a>
<ul>
<li>Haleon Plc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hln#NYSE">HLN</a>), a consumer health company, is reportedly considering divesting some smoking cessation products to sell non-core businesses.</li>
<li>The company is working with an adviser to find potential buyers for the Nicotinell brand, which includes nicotine gum, patches, and lozenges.</li>
<li>The sale of the Nicotinell brand, which is drawing interest from investment firms and consumer companies, could be valued as high as $800 million.</li>
</ul>
Photo via Wikimedia Commons

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Apple Loses Appeal Over 4G Patent Infringement In London Court, AI Can Drive TSMC's Revenue Rebound, Alibaba Conducts Strategic Review of Youku and Tudou Amidst Rivalry: Today's Top Stories

Deutsche Bank AG&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/db#NYSE">DB</a>) and&nbsp;Commerzbank AG&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/crzbf#OTC">CRZBF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/crzby#OTC">CRZBY</a>) is slammed by a lawsuit worth ₽31 billion ($348 million) by RusKhimAlyans, a Russian gas giant Gazprom&#39;s subsidiary.&nbsp;
In particular, RusKhimAlyans is asking for over ₽22 billion from Deutsche Bank and over ₽8 billion from Commerzbank,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/business/energy/gazprom-subsidiary-files-lawsuits-against-deutsche-bank-commerzbank-2023-07-04/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Reuters</a>&nbsp;reported citing documents filed at the Court of Arbitration of St Petersburg and the Leningrad Region.
Related:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/06/32907199/deutsche-bank-to-pay-75-million-over-sex-trafficking-lawsuit-from-jeffrey-epsteins-accusers" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Deutsche Bank To Pay $75 Million Over Sex Trafficking Lawsuit From Jeffrey Epstein&#39;s Accusers</a>
Further details are not available on the case.
Last month, Deutsche Bank stated identified a shortfall in the shares backing the bank&#39;s depositary receipts (DRs) allocated before the Ukraine invasion, which has been held in<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/06/33001190/deutsche-bank-raises-concerns-about-clients-missing-russian-shares" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">&nbsp;Russia by a different depositary bank</a>.
Price Action: DB shares are trading lower by 3.09% at $10.35 premarket on the last check Wednesday.

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Deutsche Bank, Commerzbank Slammed With $348M Suit By Russian Gas Giant Subsidiary: Report

Tokyo-based bank Nomura Holdings Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nmr#NYSE">NMR</a>) has invested in Fnality, a blockchain-based interbank payment and settlement network that is now sponsored by 17 major financial institutions.
What Happened: After raising &pound;50 million ($54 million) Series B funding in 2019, Fnality is in the process of raising a similar amount again.
&ldquo;The transformation of financial services powered by <a href="https://www.benzinga.com/money/best-blockchain-penny-stocks/">blockchain</a> technology is clearly accelerating, and we believe Fnality is uniquely positioned to capitalize on the significant opportunities brought by this evolution,&rdquo; Angel Issa, global head of corporate development and strategic investments at Nomura, said.
&quot;We look forward to leveraging Fnality&rsquo;s technology and expertise to continue delivering differentiated value to our clients and partners globally,&quot; Issa added.
See Also: <a href="https://www.benzinga.com/news/22/05/27294444/nomura-forays-into-metaverse-to-tap-opportunities-that-could-reach-600b-by-end-of-decade">Nomura Forays Into Metaverse</a>
Originally known as the Utility Settlement Coin, Fnality tokenizes funds deposited at a central bank and enables the settlement of DLT-based transactions with on-chain digital currency.
&quot;We at Fnality are excited to draw on Nomura&rsquo;s extensive experience in capital markets across Japan, the U.S., and Europe as we expand beyond the UK,&quot; Fnality CEO Rohomaios Ram said.
Fnality&#39;s other investors include Bank of New York Mellon (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bk#NYSE">BK</a>), Banco Santander (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/san#NYSE">SAN</a>), Barclays (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bcs#NYSE">BCS</a>), CIBC (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cm#NYSE">CM</a>), Commerzbank (OTC: <a class="ticker" href="https://www.benzinga.com/stock/crzby#OTC">CRZBY</a>), Credit Suisse (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cs#NYSE">CS</a>), Euroclear, ING Groep (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ing#NYSE">ING</a>), KBC Groep (EBR: KBC), Lloyds Banking Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lyg#NYSE">LYG</a>), Mizuho Financial Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mfg#NYSE">MFG</a>), MUFG Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mufg#NYSE">MUFG</a>), Nasdaq Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ndaq#NASDAQ">NDAQ</a>), SMBC, State Street (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stt#NYSE">STT</a>), and UBS Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ubs#NYSE">UBS</a>).
Why It Matters: After Mizuho, MUFG, and SMBC, Nomura is the fourth Japanese company to back Fnality.
Japan has emerged as one of the most successful countries when it comes to security token issuances.
<a href="https://www.benzinga.com/markets/cryptocurrency/22/05/27182986/nomura-brings-in-its-first-bitcoin-derivatives-just-as-crypto-market-tumbles">Nomura</a>, which has been active in the blockchain and capital markets for several years now, also founded Boostry, which offers a tokenization platform used for bonds and other securities. It also established Laser Digital Holdings, a company that deals in digital assets, in Switzerland.
What&#39;s Next: Since HM Treasury has formally recognized Fnality as a payments system, it is anticipated to introduce its first currency, the British Pound, next month, followed by Euros, U.S. dollars, Canadian dollars, and Japanese Yen.
Fnality is reportedly progressing with its digital euro effort, which was supported by an investment made by Euroclear earlier this year.
The necessity for settlement with cash on a ledger in central bank money will become more pressing as security token issuances progress further.

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Nomura Joins Other Big-Name Financial Players To Back Blockchain Startup Fnality

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Morning Brief: Top Financial Stories Dominating on Monday, May 23

A single portfolio manager at&nbsp;Capital Group&nbsp;caused an &euro;8 billion sell-off of European bank stocks this year following the Ukraine crisis and global recession concerns,&nbsp;<a class="editor-rtfLink" href="https://www.ft.com/content/57d318ca-19bd-44f5-b7b3-ca25f9ec7270" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">the Financial Times reports</a>.&nbsp;
Capital, until recently, had been one of the few active investors backing European bank stocks, which had been marred after a decade of depressed profitability, misconduct scandals, and market share losses as they restructured after the financial crisis.&nbsp;
Capital had built up large, top-five stakes in lenders, including&nbsp;Barclays PLC&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bcs#NYSE">BCS</a>),&nbsp;Deutsche Bank&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/db#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">DB</a>),&nbsp;Commerzbank AG&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/crzby#OTC">CRZBY</a>),&nbsp;Societe Generale&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/scgly#OTC">SCGLY</a>), UniCredit, Santander,&nbsp;BNP Paribas&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/bnpzy#OTC">BNPZY</a>), and&nbsp;UBS Group AG&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ubs#NYSE">UBS</a>).
The drop in the European Stoxx and FTSE bank benchmark indices by 20% and 14% restored the belief in investors that European banks were inherently undervalued.
Portfolio manager Nick Grace had earned good returns as the global economy recovered from the initial shock of Covid-19, and central banks started to raise rates meaningfully for the first time in a decade.&nbsp;
Grace bet that European lenders were undervalued and traded at an unfairly steep discount to the book value of their assets and were poised to generate billions more in profits as interest rates rose, improving loan margins.&nbsp;
Grace and other managers hoped that a long-awaited consolidation would generate value through cross-border and domestic mergers.&nbsp;
But concerns over rising inflation and falling growth sparked by Russia&rsquo;s invasion of Ukraine pushed Grace and some of his fellow Capital managers to sell &euro;8.1 billion of those banks&rsquo; shares.

€8B European Bank Sell-Off Was Influenced By One Capital Group Fund Manager: All You Need To Know: FT

Fintech news covering the emerging Financial Technology services sector

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Top News In Fintech And Beyond For April 29, 2022

<img alt="Fintech Header" src="https://cdn2.hubspot.net/hub/2786381/hubfs/Fintech%20Header.png?upscale=true&amp;width=800&amp;upscale=true&amp;name=Fintech%20Header.png" />
&#128073; Top Things To Know In TradeFi:
<ul>
<li>Goldman and FTX&nbsp;<a href="https://www-coindesk-com.cdn.ampproject.org/c/s/www.coindesk.com/business/2022/04/21/goldman-sachs-eyes-collaboration-with-crypto-exchange-ftx-as-ceos-meet-report/?outputType=amp&amp;utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">eyeing</a>&nbsp;a collab. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gs#NYSE">GS</a>)</li>
<li>Binance&nbsp;<a href="https://www.finextra.com/pressarticle/92360/binance-hires-former-regulators-from-fca-and-finra-to-beef-up-compliance?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">taps</a>&nbsp;FCA, Finra regulator.</li>
<li>US Bank, Apex have&nbsp;<a href="https://finance.yahoo.com/news/u-bank-apex-fintech-solutions-130000253.html?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">partnered</a>&nbsp;up. ((NYSE: <a class="ticker" href="https://www.benzinga.com/stock/usb#NYSE">USB</a>)</li>
</ul>
&#128073; Top Things To Know In Fintech:
<ul>
<li>Checkout.com&nbsp;<a href="https://www.benzinga.com/fintech/22/04/26653923/bitcoin-2022-exclusive-global-payments-innovation-for-the-new-economy?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">chats</a>&nbsp;w/BZ at BTC.</li>
<li>Citi, STT&nbsp;<a href="https://www.finextra.com/newsarticle/40097/citi-and-state-street-invest-in-fundguard?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">invested</a>&nbsp;into FundGuard. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stt#NYSE">STT</a>) (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/c#NYSE">C</a>)</li>
<li>Justin Sun will&nbsp;<a href="https://www.theblockcrypto.com/post/142867/justin-sun-to-launch-algorithmic-stablecoin-usdd-on-tron-will-use-10-billion-of-crypto-as-collateral?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">launch</a>&nbsp;a stablecoin.</li>
<li>LimeWire&nbsp;<a href="https://www.theblockcrypto.com/post/142661/limewire-raises-10-million-in-private-token-sale-to-grow-music-linked-nft-platform?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">adds</a>&nbsp;$10M in token sale.</li>
<li>A16z Crypto&nbsp;<a href="https://www.theblockcrypto.com/post/142869/a16z-crypto-is-launching-an-academic-research-lab-focused-on-web3?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">starts</a>&nbsp;Web3 initiative.</li>
<li>Commerzbank&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/22/04/26744084/if-you-cant-beat-them-join-them-german-banking-giant-commerzbank-applies-for-crypto-licens?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">eyes</a>&nbsp;crypto license. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/crzby#OTC">CRZBY</a>)</li>
<li>APENFT Market is&nbsp;<a href="https://www.theblockcrypto.com/post/142391/apenft-marketplace-launches-mainnet-the-first-nft-marketplace-on-tron?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">live</a>&nbsp;on Mainnet.</li>
<li>Evolve, Trust and Bond&nbsp;<a href="https://finance.yahoo.com/news/evolve-bank-trust-bond-partner-131500307.html?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">partner</a>&nbsp;up.</li>
<li>OCC wants Anchorage to&nbsp;<a href="https://www.theblockcrypto.com/linked/142962/occ-issues-cease-and-desist-order-against-anchorage-digital-over-aml-program?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">clean up</a>.</li>
<li>Spruce&nbsp;<a href="https://url3396.theinformation.com/ls/click?upn=H96X59jl7qcPYFPKAjaAGm4wUHgjhBDrNSlaf8jFbbxuAedsqqguigb-2BkF-2BNoWh4fPCE77RB47YBJr-2B-2FDgfvkuH0owv6YcY4OOXqEpwgj4IKtchb5-2FoDjmDuWUzsbRx0cYS8DStS6PbwvN6lUbNws-2FMRVyti-2FCJffrFotFtdBBHMMuD8IitZZ0sEaEXCH6AMlYMy-2FRTXUMVLPHDuXxWrTiDvL2u89JAq6NLfOncdLfnqE-2BoAoUpMltrlFMK6pjPtxsTK_UHkcJfZbGGnDNDUf1uQTjtJByy3jWJNy791l91f5MM25NFSYIeXPptG2LbPUgFexmCVSakL0R6yNO-2B-2B7vaX4tfE3Z3WEAeklWrhnAHfwF1HATnICAaKfK1-2BBkvJzm4Lri63Bxw3Ye8qM6nc04oWIpyPYWhnVZHAt5dogrMlfr-2Fq-2FdUmzVE5uywBnqjMC3gfBQBO1bCZ1F5AKz5Rt0Di203QNCw-2Bz2B209yxL0agfqq5k9-2BCzIFnLLpDvBFt0aMf4HtA19IAcnjiRRvge-2FJURO4GPykjnWb2-2B1Rk2VCHnswGbv0JAM2sUX1ttuxKefVtaf8B1I3fv7lsCEezOizjI5mIxQL-2BTMAPBuwKDeY03AoZCZpND4VqSI1zevq5RHYekhEOlV2a4-2BPCHyOmu10eW9TACFTC-2F2u7pkYXYn13P-2BhM-3D&amp;utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">adds</a>&nbsp;$34M Series A round.</li>
<li>Plaid&rsquo;s cofounder&nbsp;<a href="https://www.forbes.com/sites/jeffkauflin/2022/04/21/plaids-billionaire-cofounder-is-back-with-a-new-startupa-fintech-friendly-bank-hes-running-with-his-wife/?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">started</a>&nbsp;a startup.</li>
<li>LiquidityBook&nbsp;<a href="https://www.globenewswire.com/news-release/2022/04/21/2426395/0/en/LiquidityBook-Adds-Bryon-Cole-as-Director-of-Buy-Side-Sales.html?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">added</a>&nbsp;new directors.</li>
<li>Qonto&nbsp;<a href="https://www.finextra.com/newsarticle/40102/qonto-closes-crowdcube-campaign-after-raising-5-million-in-65-hours?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">ends</a>&nbsp;Crowdcube campaign.</li>
<li>Currency.com has&nbsp;<a href="https://www.finextra.com/pressarticle/92364/currencycom-expands-into-the-us?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">moved</a>&nbsp;in to US.</li>
<li>Valantic&nbsp;<a href="https://www.tradersmagazine.com/news/valantic-fsa-invests-in-velox/?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">added</a>&nbsp;a Velox investment.</li>
<li>Marqeta has&nbsp;<a href="https://finance.yahoo.com/news/marqeta-announces-riskcontrol-end-end-110000297.html?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">launched</a>&nbsp;RiskControl. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mq#NASDAQ">MQ</a>)</li>
<li>Ex-Circle chief&nbsp;<a href="https://www.finextra.com/newsarticle/40098/ex-funding-circle-chief-raises-30m-for-payments-startup---sky?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">raising</a>&nbsp;$30M funds.</li>
<li>Babylon&nbsp;<a href="https://www.einnews.com/pr_news/568153007/babylon-finance-empowers-communities-to-invest-together-in-defi?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH#:~:text=Babylon%20is%20transforming%20investing%20from,the%20end%20of%20March%202022." target="_blank">empowers</a>&nbsp;DeFi investing.</li>
<li>Aussie authorities&nbsp;<a href="https://www.theblockcrypto.com/post/142861/australian-authorities-lay-out-guidelines-and-roadmaps-for-crypto-industry-regulation?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">hone</a>&nbsp;crypto reg.</li>
<li>Skyflow, Plaid&nbsp;<a href="https://techcrunch.com/2022/04/21/skyflow-and-plaid-partner-in-effort-to-bolster-fintech-data-security/?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">team</a>&nbsp;on fintech data.</li>
<li>Ratio&nbsp;<a href="https://www.theblockcrypto.com/post/142948/cricket-nft-platform-rario-announces-120-million-funding-round?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">announces</a>&nbsp;$120M in funding.</li>
<li>Russia&rsquo;s CB will&nbsp;<a href="https://www.theblockcrypto.com/linked/142955/russias-central-bank-to-run-real-world-pilot-of-digital-ruble-in-2023-report?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">pilot</a>&nbsp;a digital ruble.</li>
<li>Citi&nbsp;<a href="https://www.finextra.com/pressarticle/92366/citi-partners-ebanx-in-latin-america?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">partnered</a>&nbsp;with Ebanx in Latam.&nbsp;</li>
</ul>
&#128073; Interesting Reads:
<ul>
<li>SNAP&nbsp;<a href="https://techcrunch.com/2022/04/21/snapchat-q1-2022-results/?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">outpaces</a>&nbsp;FB &amp; TWTR growth. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/snap#NYSE">SNAP</a>) (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fb#NASDAQ">FB</a>) (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/twtr#NYSE">TWTR</a>)</li>
<li>Musk may be the&nbsp;<a href="https://email.mg2.substack.com/c/eJxVksGSoyAQhp8m3pISkEQPHpJMMuvU6lamspNkLhZCa0gULcDM6NMvTk5b1UDR9E8X_wdnFqpWD3HXGutNU26HDtxWcOYyvQGdSxGHqwChlSfiQKCQhp40eakBGibr2OoevK4vasmZla2a6hEJiXeNabQqnWAKQgMOuGTAIUKAhQ8lD54dWS8kKA4xPEAPrQKvjq_WdmZG1jO8d9G1TbcwfWEs4_cFb5sp5wbUrZo3vbnPpZnbK8wrDe5Fxs5BWQ2dBgW9npG9be-gZuQFhjfE8cdwxvU9ubVBNh6-0yM3ido8OHkv2ekg_9z-DtltjdOXNPi9fesu5ym3w9lxjbLjzs-OqUmaeuRDsnQ6dJH-dzpWYyK_JCcf0t0r-Ws0ii0aPk_7m3itH4V8ixZZFu7PfJvvPrd0816e0K9Hezjc5g2r9yvmh-np1G8ArR_JxZMx9jH2A4xQgKOALsgCR0Ao4AAVvgDG8Czwmwr_Z4unY9NNVuqvq7TgKgpQo1QV-zl1kHK3Nr2SdshBsaIG8eRnnz_gh2heOdu081HkzMZoSX1KUUAJouQJzAGmeOkvfRJ6rr1onUrFE6R_Z4LJFQ?utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">best</a>&nbsp;entrepreneur. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>)</li>
<li>Fed&rsquo;s Powell&nbsp;<a href="https://www.bloomberg.com/news/articles/2022-04-21/powell-hardens-hawkish-pivot-toward-half-point-fed-rate-hikes?srnd=premium&amp;utm_campaign=Fintech%20-%20BZ%20Fintech%20Daily%20Beat&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_zelnM5ReKCxYuRjR_FHDWANotNCToQYbBEOT2LIee5uSEBPdVIwLWHZWlPbVfyALzEgbH" target="_blank">hardens</a>&nbsp;hawkish pivot.</li>
</ul>

SNAP

Top News In Fintech And Beyond For April 22, 2022

Retail interest in the crypto market wains as Google searches for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)&nbsp;has plummeted to lows not seen in over a year. In addition, Crypto Fear and Greed Index is at 27, which is classified as &lsquo;Fear&rsquo; levels and further indicates negative sentiment. Historically, low a significantly low interest from retail has created profitable buying opportunities.
Despite retail being fearful and uninterested, institutional adoption continues as the second-largest listed bank in Germany, Commerzbank (OTC: <a class="ticker" href="https://www.benzinga.com/stock/crzby#OTC">CRZBY</a>), has now applied for a local crypto license. This would allow it to provide exchange and crypto asset services and become the first major bank in Germany to make this step.
According to recent data released by a jobs platform, London is a world leader in cryptocurrency. This platform revealed the number of employers currently seeking staff in the crypto industry, which showed the US as the highest number of vacancies at 3,893 with the UK as second with 954 vacancies - most of these roles are based in London. Canada came in at third with 386 current vacancies. After the UK recently displayed plans to become the global hub for crypto, this data is a promising sign. We are seeing a series of high-profile departures from traditional finance sector to the crypto space as crypto is transforming countless sectors with innovative products.

Eurozone

Jobs Platform Shows Promising Data For Crypto In The UK

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Benzinga's Top Ratings Upgrades, Downgrades For July 27, 2021

Societe Generale initiates coverage on Commerzbank (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRZBY#OTC">CRZBY</a>) with a Sell rating.

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