Quote To Start The Day: “Whoever is happy will make others happy too.”

Source: Anne Frank

One Big Thing In Fintech: Here’s the theory: Instead of linking carbon and biodiversity credits to the sale of raw materials such as forests, which cause CO2, what if you linked them to crypto tokens, and thus kept these CO2-producing materials in the ground?

That’s the theory behind Single.Earth, which has now raised a $7.9 million seed funding round led by Swedish VC EQT Ventures to, in its own words, ‘tokenize nature’. Also participating in the round was existing investor Icebreaker, and Ragnar Sass and Martin Henk, founders of Pipedrive. The funding will be used to launch its marketplace for nature-backed MERIT tokens.

Source: TechCrunch

Other Key Fintech Developments:

Watch Out For This: Global venture capital funding in the first half of 2021 shattered records as more than $288 billion was invested worldwide.

That’s up by just under $110 billion compared to the previous half-year record that was just set in the second half of 2020.

Source: Crunchbase

Interesting Reads:

Market Moving Headline: Federal Reserve officials were not ready to communicate a timeline for scaling back asset purchases due to high uncertainty on the economic outlook, a record of their June gathering showed, though they did want to nail down a plan in case they have to move sooner.

Source: Bloomberg