The year is near to its end, and you might think that this should be the time for recap. But not for fintech. Financial technology is still giving us many innovations, food for thought, investments, and it seems that some countries are taking advantage of the end of the year to expand. In this number of FinTech Weekly, we want to let you discover what regulators are doing, how wages could change soon, what’s the future of work, and what are the events that are making headlines. This and much more on FinTech Weekly: follow us on LinkedIn to stay ahead of your competitors – for free!
Future of Work Opinions Politics Regulation
Even if wage increases are usually good news, it might be problematic during times of high inflation – like those we’re currently living. If wages stay high, the Fed might decide to further increase interest rates, in order to weaken the economy and rebalance the price of goods and services.
Investments Sustainable Finance
In the attempt to become a top player in the green economy, India is planning a huge amount of investments in the green hydrogen industry. The $2 billion worth incentive program should both help to cut emissions and make India one of the major exporters across the globe.
The founder and CEO of Cevian Capital, Christer Gardell, talks about 2022 and makes some predictions for 2023. In 2022, just when the pandemic eased, the war, inflation, and the energetic crisis further increased uncertainty, but the stock market proved to be better than 20 years ago. This might also mean that the recession won’t last long.
Business Future of Work Opinions
In 2022, over 150,000 workers lost their jobs, especially in fintech sectors, because of the layoffs of big fintech companies. What about all those workers who left their countries to work in Silicon Valley? All the layoffs might become an opportunity for Canada to recover some of its talents, according to Jennifer Holmstrom.
As an annual signature event held in Hong Kong to promote collaboration in the Asia’s financial industry, the Asian Financial Forum (AFF) will return on 11-12 January 2023 at the Hong Kong Convention and Exhibition Centre with a digital extension. Themed “Accelerating Transformation: Impact ∙ Inclusion ∙ Innovation”, the Forum will map out a sustainable growth paradigm to build a resilient economic landscape that achieves positive impact and encourages inclusivity and innovation. Join us to embark on 2023 with knowledge exchange and networking opportunities. Grab your Standard Pass using discount code for readers of FinTech Weekly: P-AMP09D
Despite the challenging times, there’s no doubt that fintech is one of the thriving industries, and it spans across multiple sectors. Turkey organized its biggest fintech summit, Webrazzi 2022, to make entrepreneurs and technology meet to find innovative solutions to afford the modern economy.
The NFT space is becoming even more popular, and NFT companies want to explore new opportunities. This is the reason behind the decision of Dust Labs to move its top NFT projects – DeGods and y00ts – to different blockchains: from Solana to Polygon and Ethereum.
Japan is considering the restrictions applied to stablecoins. In fact, even if there are over 30 exchanges registered in the country, none of them offer trading with top stablecoins like USDT and USDC. This may change in 2023, since regulators in Japan are considering allowing trading of top foreign stablecoins.
We at FinTech Weekly have already covered the so-called Edinburgh reforms, a set of changes to banking rules to make the UK financial system more stable. The reforms were recently announced by Jeremy Hunt, UK chancellor. Will these reforms make the UK financial system actually more stable, or will they threaten its stability?
Smartpay, the Japanese fintech company founded by seasoned fintech professionals with previous experiences in companies like Facebook and Stripe, launched Smartpay Bank Direct. It’s the first finance service that will allow for online installment purchases directly from people’s bank accounts – thanks to partnerships with over 60 banks across the country.
Japan is not only reconsidering its regulations regarding cryptocurrencies, but also expanding its investments in the fintech sector. The Indonesian fintech company Akulaku has just raised $200 million from MUFG – Mitsubishi UFJ Financial group. The investment was necessary to allow both the company and the group to further expand in new markets.