Issue #404 - FinTech Deals With Regulators & Layoffs February 23rd, 2023

Aspire is one of the few fintechs that managed to increase their value despite the tough times that hit the industry. In this case, Aspire was able to even double its value - and it's looking for 44 professionals right now.

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Benjamin Ensor and Amy Gavin are joined by fintech experts and professionals to discuss the latest fintech news - especially the decision of Britain to regulate BNPL (Buy Now, Pay Later).

PeckShield, the blockchain security firm, has raised an alarm related to ChatGPT. The firm found out that there are several crypto tokens linked to artificial intelligence (AI), and ChatGPT in particular. These tokens are usually parts of fraudulent schemes.

Coinbase is another fintech company that has to deal with layoffs. But the new rounds of layoffs announced by the fintech see involved many professionals who worked for JP Morgan before moving to Coinbase.

After the issues that the popular centralized crypto exchange Kraken had with regulators - issues that resulted in a fine worth $30 million - the co-founder of the company shared some opinions. According to Jesse Powell, regulators hit the good guys to suit their agenda and avoid the real bad guys, but this could destroy the market.

Banks and similar financial companies in India have almost stopped their relationships with fintech for what concerns lending products and services - to avoid all the issues that companies that are not fully regulated can cause.

In the meantime, fintech companies continue focusing on people's needs, and Arnie is an example of this philosophy - its goal is the improvement of the retirement industry.

The NBA and the Chinese fintech company Ant Group, entered a partnership that will allow the two to cooperate to create video content, digital collectibles and membership programs.

After Jeremy Hunt praised Revolut as a top fintech, which should be part of his vision of the UK as the "next Silicon Valley", questions arise about the problems currently faced by the UK fintech.

Despite the drop in funding witnessed in the last few years, the fintech sector in Africa is thriving. The continent managed to gather almost $1.5 billion in 2022, and Nigeria is the best-funded country.