Hertz Partners With BP 🤝 to Build EV Charging Stations 🔋
Scott D. Clary | Daily Business, Tech & Finance Newsletter
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Here’s whats happening:
- Hertz partners with BP to build EV charging stations
- The US announces an additional $1.1 billion in security aid for Ukraine
- SWIFT teams with Chainlink for cross-chain crypto transfer project
- Una Brands nabs $30 million in Series B funding
- NFT Trading Volume Falls 98% From January
Hertz Partners With BP 🤝 to Build EV Charging Stations 🔋
Car rental firm Hertz and oil and gas company BP have signed a memorandum of understanding (MOU) to build a network of electric vehicle (EV) chargers in North America.
- The EV charging stations will be powered by BP pulse, BP’s global electrification and charging solution brand.
- The partnership will involve the management of Hertz’s charging infrastructure by BP pulse and the customization of its Omega software.
- Currently, details about the project are very scarce as the companies have not yet disclosed how many charging stations they plan to build or how much investment each company is making for the project.
- The first new site is expected to go live in 2023.
Why does this matter?
The partnership ensures Hertz’s growing fleet of electric rental cars is recharged quickly and efficiently between rentals.
Moreover, it also sets the foundation for Hertz and BP to drive the future of mobility and accelerate EV consumer adoption.
The US Announces an Additional $1.1 Billion 💰 in Security Aid For Ukraine 🇺🇦
The Biden administration will provide an additional $1.1 billion in security assistance to Ukraine as Russia’s invasion of the country reaches the seven-month mark.
- The latest package brings the total of U.S. aid to Ukraine to nearly $17 billion since the Biden administration took office.
- The upcoming U.S. security assistance is the 22nd installment to Ukraine under the Ukraine Security Assistance Initiative, which follows Russia’s recent referendums in four occupied regions of Ukraine.
- The security package will go towards armored vehicles, radars, communications & surveillance systems, body armor and other field equipment, maintenance & sustainment, among other capabilities.
The Big Picture:
The additional security aid highlights the commitment of the US to continue supporting Ukraine over the long term.
It also represents the US’ multi-year investment to build the strength of Ukraine’s Armed Forces as it continues to defend Ukraine’s sovereignty and territory in the face of Russian aggression.
SWIFT Teams With Chainlink For Cross-Chain Crypto Transfer Project 🤝
SWIFT (Society for Worldwide Interbank Financial Telecommunications), the interbank messaging system that allows for cross-border payments, is partnering with Chainlink (LINK), a provider of price feeds and other data to blockchains.
- Chainlink and SWIFT will work on “an initial proof of concept” using Chainlink’s cross-chain interoperability protocol (CCIP), which provides a standard for communication between blockchains.
- CCIP will allow SWIFT messages to instruct on-chain token transfers and help the interbank network to communicate across all blockchain environments.
- The partnership will help accelerate the adoption of distributed ledger technology (DLT) blockchains and benefit various institutions across capital markets.
What should you know?
SWIFT’s interbank messaging system is the most widely used platform for traditional cross-border fiat transactions, connecting over 11,000 banks globally.
The partnership between SWIFT and Chainlink in cross-chain interoperability will help bridge the gap between traditional and digital assets for TradFi institutions.
Una Brands Nabs $30 Million in Series B Funding 💰
Una Brands, a Singapore-based e-commerce aggregator, has raised $30 million in its Series B funding round.
The investment was co-led by venture firms White Star Capital and Alpha JWC Ventures.
What will Una do with the funding?
Una will use the fresh proceeds to acquire more brands in key e-commerce categories such as mother & baby care, home & living, and beauty & personal care.
The startup will also use part of the fresh funds towards further developing the company’s in-house infrastructure & strengthening its position in key markets like Southeast Asia, Australia, New Zealand, and China.
About UNA Brands:
Founded in 2021, Una Brands is a startup that acquires e-commerce brands based in the Asia Pacific region.
The company uses its tech stack to optimize & automate company identification, product placement, and marketing across a broad range of distribution channels.
Since its inception, the company has acquired more than 20 e-commerce brands across six countries. Its acquisitions include ErgoTune, and EverDesk+, among others.
NFT Trading Volume Falls 98% From January 📉
According to data reported on blockchain analytics company Dune Analytics, the weekly trading volume of non-fungible tokens (NFTs) across the blockchain ecosystem has dropped to $114.4 million.
The data represents a fall of 98% from the $6.2 billion seen around the end of January this year.
The drop in trading volume has resulted in a section of the market questioning the general utility of NFTs.
If NFTs soon don’t address the trade volume issue, it could end up becoming just another fad.
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