Today, FinTech Weekly covers the latest sectors conquered by financial technology.
While cryptocurrencies are becoming more popular among people and countries - see what’s happening in El Salvador, users are also exploiting other fintech tools to reach their financial goals: what we are observing is that fintech replaces the traditional system more and more every day. And it works not just with the youngest generations.
Fintech tools are always more related to traditional markets like real estate, traditional financial instruments like debit and credit cards - and maybe they are even threatening traditional banks.
You can find this and more news in this FinTech Weekly number!
Enjoy the rest of the week
Rosalia
Fidelity, a well known asset management and financial services company, released a report where they explain why Bitcoin should be considered as a unique asset: mainly a “monetary good”, it can’t be improved by other cryptos according to the report.
Latest keynotes and panelists at this years virtual FinTech World Forum 2022 conference.
Fintech Insider hosts, Gwera Kiwana and Ross Gallagher, are joined by Lotanna Ezeike (XPO) and Kyla Scanlon to discuss how fintech and banking services are related to the so-called “creator economy”, an economy that consists of those who influence other people and create according to their passions.
After becoming the first country in the world to adopt Bitcoin as a legal tender, El Salvador is now supporting Bitcoin users trying to face the main challenges brought by this revolutionary decision. For this reason, El Salvador is cooperating with AlphaPoint to relaunch the Chivo wallet and improve stability and scalability.
The Canadian fintech firm, Koho Financial, has raised $210 million in the last funding round. The company focused on the creation of a new financial tool that allows users to save their money and earn interest, but without fees. Moreover, a partnership with ADP allows users to access up to 50% of their paychecks whenever they wish, and no interest is charged.
Good news for fintech: F-Prime Capital announced the launch of the F-Prime Fintech Index, which will track major fintech companies and their performances, allowing investors to better choose where to put their money.
Jason Wenk discusses the main problems of fintech founders: even if their main goal is solving people’s financial issues, their intentions may be destroyed by the difficulties of the market. How can they handle challenges?
Ron Shevlin provides another excellent point on one of today’s hot topics: BNPL (Buy Now, Pay Later). Will this system really kill credit cards, or is it just another overstated prediction?
Xrent opened the waitlist for its new debit card. The fintech firm wants to provide users with a debit card that serves their “rent-to-mortgage” program: the fintech wants to help users to shorten their path towards homeownership, and each rent paid with the card will boost users’ credit scores and give them the chance to win a house or a year of mortgage.
Visa announced the VEI, the Visa Everywhere Initiative opened to UAE fintech firms and startups. Winners will have the opportunity to cooperate with Visa, monetary prizes and the opportunity to gain exposure to major fintech stakeholders.
MoonPay launched new payment gateways. The NFT clients of the company will be able to offer end users the capability to pay with several payment methods for digital art. This means that users won’t need to buy cryptocurrencies first, and the company thinks that this will increase the sale of NFTs.