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Former professional footballer David Beckham invested an undisclosed amount in the British electric vehicle company, Lunaz, acquiring a 10 per cent stake in the firm.
The former LA Galaxy and AC Milan player, renowned for his bending free-kicks, joined British businessman Alexander Dellal and the UK-based Reuben and Dellal families in the latest funding round of Lunaz, according to a company statement. Lunaz did not disclose the value of the funding. Lunaz represents the very best of British ingenuity in both technology and design, said Mr Beckham, who has backed start-ups in various sectors such as e-sports and athletic recovery products through his investment company DB Ventures.
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Banks test DLT-based platform for intraday FX swaps 3 hours ago
1 A group of 11 banks, including NatWest and Deutsche Bank, have been trialling a DLT-based platform for intraday FX swaps. The FX swaps market sees $3.2 trillion of daily volume but swaps have traditionally been overnight and longer.
Banks hope that by using intraday swaps, treasury teams can borrow for hours at a time, enabling them to efficiently meet a temporary liquidity need. This not only helps to optimise intraday liquidity buffers, it also offers an opportunity to lend excess funds, representing a new revenue stream.