Denmark Central Bank Intervenes to Support Krone Peg Against Euro 
Tesla Q2 Deliveries Lift Chinese Auto Suppliers as EV Demand Improves 
Asian Currencies Rise as Dollar Weakens; Yen Holds Steady Amid Japan Intervention Watch 
EU Chip Industry Faces Growing Risks From China Export Controls and U.S. Technology Dependence: Report 
Brazil to Phase Out Gasoline Subsidy First as Diesel Support Stays Longer 
Meta Stock Jumps as AI Cloud Expansion Challenges AWS, Microsoft, and Google 
Anthropic Restores Claude Fable 5 and Mythos 5 After U.S. Lifts AI Export Controls 
SoftBank’s LY Corp, Bain Raise Kakaku.com Bid to ¥670 Billion, Intensifying Takeover Battle 
US Stock Futures Hold Steady Ahead of June Jobs Report as Fed Rate Outlook Remains in Focus 
Australia Trade Balance Swings to Surprise Deficit as Imports Outpace Exports in May 
New Zealand Consumer Confidence Rises in June as Inflation Expectations Ease 
South Korea Warns Won Is Undervalued, Boosts FX Coordination With Japan 
China Services PMI Beats Forecasts as Strong Demand Supports June Growth 
Trump Reports $1.4 Billion in Crypto Income as Digital Assets Become Top Wealth Source 
Asian Currencies Stay Under Pressure as Dollar Holds Near 13-Month High Ahead of U.S. Jobs Report 
BHP Workers Approve New Labour Agreement at WA Iron Ore Operations 
Trump Administration Declines USMCA Renewal, Opens Talks on New Trade Changes 
Toss, a South Korea-based mobile financial service platform operated by Viva Republica fintech startup, has acquired the mobile virtual network operator Merchant Korea. The acquired firm provides wireless communication services to customers at low prices.
Toss revealed on Thursday, July 21, that it had inked a share purchase deal with Merchant Korea for a 100% stake acquisition in the firm. As per The Korea Times, once the agreement is completed, Toss is planning to add a new search and subscription feature in its fintech app so it can offer the best mobile virtual network operator (MVNO) service plans to customers.
Toss said that the introduction of the new function would modernize and make the MVNO subscription process for consumers run smoothly while also allowing them to reduce their telecom fees.
"Just as Toss creates social benefits with its financial services that help consumers save time and costs, the mobile application also aims to contribute to removing the inconveniences of the MVNO subscription process as well as reducing telecommunication costs," a Toss official said in a statement.
Meanwhile, Viva Republica also announced that its efforts to attract investments were successful after securing ₩300 billion or about $229 million in funds. With this, the company's corporate value is now estimated to be ₩8.5 trillion.
Korea Joongang Daily reported that the new investments this month came from various investors, including Altos Ventures, a California-headquartered venture capital firm, and Korea Development Bank, a state-run financial institution. Both parties were said to have given ₩100 billion each to Viva Republica.
It was added that other local major firms - Mirae Asset Securities and Kwangju Bank - also pitched in to reach the ₩300 billion mark. Other investors were not disclosed, but they were said to consist of several groups.
The company is also set to receive additional funds through another round of investments scheduled for next month. This can potentially bring the total investments for Viva Republica to KRW400 billion. The influx of funding only shows that investors see a huge potential in the growth of the fintech firm that operates Toss.
