FinTech Weekly Issue #390 - What People Find In FinTech

Bitcoin Cryptocurrency

As Binance steps in to merge with FTX after the collapse of one of the largest crypto exchanges, Bitcoin touches its lowest price for 2022 and the FTX token loses over 76% of its value. These losses are affecting the whole crypto market – as well as the stock market.

Cryptocurrency Regulation

In the meantime, the US continues trying to find a definite regulatory framework for cryptocurrency and fintech. The two markets, according to US regulators, could pose risks to the whole financial system if not monitored properly.
The goal is not hurting innovation, but creating a safer environment for further financial and technological progress.

Banking Business

Once again, fintech is able to solve common issues that might not be properly addressed by more traditional businesses. One of these problems is how couples manage finances. Money is one of the main reasons behind divorces: inspired by her parents’ divorce, Jacklyn Rome founded Onward, a fintech firm that allows divorced parents to co-manage expenses for their children.

Business Investments

Integrated Finance, the fintech infrastructure provider, launched its Fintech Foundation. Thanks to this incubator, emerging fintech realities can benefit from guidance, technologies and Integrated Finance’s partners to have sustainable growth.

Business Regulation

The big Chinese e-commerce, JD.COm, wants to win Beijing’s approval for its fintech arm. Even if the regulatory measures of the Chinese government started two years ago delayed the plans of some fintech companies, JD.Com is trying to have regulators’ approval by the end of the year – it would be the largest IPO of a Chinese company in Hong Kong.

Business Cryptocurrency

2022 marks the 10ht anniversary of fintech, and despite the impressive rise of this industry, fintech companies and startups should prepare for the next decade and face their competitors – mainly traditional firms able to offer super apps and a strong user experience, decentralized protocols, companies that integrate financial products, and all those institutions that will be able to use CBDCs.

Business

Fintech meets healthcare with the launch of the fintech platform offered by Nomi Health. The healthcare company, already focused on making healthcare affordable in the US, launches this platform – Connect – to allow real-time payments and a more transparent process.

Investments

In spite of the challenges faced by the fintech industry in these hard economic and financial times, in October the whole market witnessed successful funding rounds. Among the most successful sectors, we can find cybersecurity, automation of business processes, payments and decentralized finance.

Sustainable Finance

Even though it was founded just one year ago, the Every Action Counts (EAC) coalition already managed to reach concrete goals. The coalition, made up of different companies and green fintech experts, published the Green Digital Practices Guidebook, which provides orientation on how businesses and institutions can engage with customers to focus on innovation and sustainability.