Cashless Chronicles? - Issue #461 March 29th, 2024

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FinTech Weekly presents a panorama where each thread weaves into the broader narrative of digital finance's transformative impact. This edition does not merely list developments; it delves into the synergy that propels the financial sector into new realms of possibility. From the creative streets of Dublin to the strategic partnerships shaping Hong Kong's financial scene, the stories reflect a dynamic shift towards a universally accessible and technologically empowered financial future.

Such progress underscores a pivotal moment in finance, characterized not by the simple adoption of digital tools, but by a profound reimagining of financial interactions. It highlights how innovation, rooted in collaboration and driven by a collective ambition, crafts pathways for a more inclusive financial world.

This and much more in this number of FinTech Weekly: discover top fintech news and events and stay ahead of the competition!

Top Stories

Top Events

    Join us for RE•WORK's highly anticipated AI in Finance Summit New York 2024, happening on April 18-19, 2024, at etc.venues 360 Madison, in New York, NY. Get the latest cutting-edge use cases from people leading AI initiatives from the most innovative companies in BFSI. Learn how companies from other sectors are: - Using the most effective ML Models to combat fraud - Advancing conversational AI for chatbots with NLP - Embracing ethical and transparent AI practices to protect the privacy of their customers - ... And much more!

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Podcasts and Videos


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    The recent surge in institutional interest in digital assets and blockchain technology marks a significant turnaround from the bleak period following the FTX bankruptcy in November 2022, which had seemingly dealt a fatal blow to the crypto market's credibility. Contrary to expectations, the sector has witnessed a remarkable recovery, largely fueled by the U.S. Securities and Exchange Commission's (SEC) approval of Bitcoin ETFs in January. This regulatory green light has propelled Bitcoin prices to new heights, with Blackrock's Bitcoin ETF achieving a record-breaking growth, amassing $10 billion in funds under management in less than two months, showcasing a renewed confidence in digital assets and Web3 technology.


    Swiss fintech startup nsave, aimed at democratizing access to Swiss banking for individuals in countries plagued by unstable banking sectors or rampant inflation, has successfully raised $4 million in seed funding. This financial injection was co-led by notable investors Sequoia Capital and TQ Ventures, with additional contributions from Y Combinator, ACE Ventures, SV Angel, and FONGIT, a Geneva state-backed organization dedicated to fostering technology startups. This significant capital raise marks a pivotal step for nsave in its mission to provide secure and stable banking solutions globally.


    The Hong Kong Science and Technology Parks Corporation (HKSTP) and HSBC have launched a three-year strategic partnership to foster innovation and enhance the Bank-FinTech collaboration ecosystem. This alliance combines the innovation and technology (I&T) strengths of Hong Kong with the global banking expertise of HSBC. It aims to strengthen the city's start-up, FinTech, and I&T sectors, contributing significantly to the growth of Hong Kong's digital economy, where FinTech plays a crucial role. By leveraging both organizations' resources, expertise, and networks, the partnership is poised to drive significant advancements in the region's technological and financial landscapes.


    In an innovative guerrilla marketing stunt for their launch in Dublin, Neverless Fintech, founded by former Revolut executives, grabbed attention by decorating city streets with mock five euro notes hanging from trees, embodying the concept that "money doesn't grow on trees." This unique strategy not only turned heads but also engaged the public, who could redeem the notes for actual values ranging from 1 to 50 euros each. The campaign, which aimed to democratize wealth-building strategies, culminated in a significant display at Peace Park, leaving a lasting impression of money literally growing on trees and marking Neverless's bold entry into the fintech industry.

    The rapid integration of artificial intelligence (AI) into daily life has raised concerns and questions about the future of humanity for many. However, Anguilla, a small Caribbean island east of Puerto Rico, has found a lucrative opportunity in the AI expansion. As a British territory, Anguilla profits from each registration of internet addresses ending in ".ai," the domain name designated for the island, akin to France's ".fr" and Japan's ".jp." This unique coincidence has positioned Anguilla to benefit from the surge in companies, including Elon Musk's, seeking domain names that signify their cutting-edge involvement in AI, resulting in a significant increase in domain registration requests and a financial windfall for the island.

    On March 13, the European Union Parliament took a significant step by voting to adopt the EU's AI Act, marking the EU's first attempt at comprehensive legislation to regulate artificial intelligence across all member states. This landmark act imposes new and substantial responsibilities on developers, distributors, and users of AI systems, particularly those whose operations impact individuals within the EU, setting a precedent for future regulation and oversight in the rapidly evolving field of artificial intelligence.