China’s financial technology companies are expected to abide by capital adequacy requirements within a maximum of two years, according to an industry regulator.
A portmanteau of “finance” and “technology”, the Fintech space refers to any business or start-up that merges technology and financial services. It is a rapidly growing industry that is becoming increasingly competitive, which is why it is paramount to ensure the right connections are made in the sector.
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The EU’s top regulator has questioned the use of blockchain technology in the creation of a European Single Access Point (Esap) for company financial and sustainable investment information.
Walmart has appointed Omer Ismail, the head of Goldman Sachs’ consumer business, to take charge of the US retail chain’s up-and-coming fintech startup.
Global investment in fintech fell significantly in 2020 as the Covid-19 pandemic hit but picked up significantly in the second half of the year, according to KPMG, expecting a strong 2021 for the sector.
Bitcoin was down about 5.6% after plunging as much as 17% earlier Monday. The digital asset briefly drifted below $50,000, giving up more than $8,000 in a matter of hours after the world’s richest man tweeted his concern that the price had risen too high too quickly.