Billionaire-backed Swedish startup may have digital cash fix

STOCKHOLM: A Swedish fintech backed by billionaire Mohammed Al Amoudi says it’s found a solution to one of the biggest nightmares of an increasingly cashless world: what happens if the Internet goes dark and we can’t use our phones or cards?

Crunchfish AB, in which Al Amoudi holds 17% through investment unit Midroc, is developing software for mobile phones that lets consumers pay merchants in real time, offline and in any currency, including central bank digital currency and bitcoin.