FinTech Weekly Issue #396 - The Die Is Cast

Issue #396 - The Die Is Cast

2022-12-29

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!

Top Stories

How can the economy dodge a recession in 2023? Slow wage growth
How can the economy dodge a recession in 2023? Slow wage growth
via USA Today

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.

India plans $2 billion incentive for green hydrogen industry: Report
India plans $2 billion incentive for green hydrogen industry: Report
via The Times of India

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.

Swedish investor weighs in on financial risks in 2023
Swedish investor weighs in on financial risks in 2023
via The Local Sweden

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.

Deep job cuts in Silicon Valley could bring tech workers back to Canada
Deep job cuts in Silicon Valley could bring tech workers back to Canada
via The Globe and Mail

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.

Top Events

Asian Financial Forum
Asian Financial Forum

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

Podcasts and Videos

Turkiye's biggest Fintech Summit takes place in Istanbul

Business

Turkiye's biggest Fintech Summit takes place in Istanbul
via Money Talks

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.

Crypto

DeGods and Y00ts NFTs are bridging off Solana: Here’s why

Blockchain NFT

DeGods and Y00ts NFTs are bridging off Solana: Here’s why
via Cointelegraph

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 to lift the ban on foreign stablecoins like USDT in 2023: Report

Cryptocurrency Regulation

Japan to lift the ban on foreign stablecoins like USDT in 2023: Report
via Cointelegraph

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.

Banking

Banking reforms could make the UK a sustainable finance hub, but also threaten financial stability

Banking Regulation

Banking reforms could make the UK a sustainable finance hub, but also threaten financial stability
via The Conversation

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?

Innovation

Japanese fintech leader Smartpay first to launch the next phase of digital consumer finance through open banking

Banking Business

Japanese fintech leader Smartpay first to launch the next phase of digital consumer finance through open banking
via Yahoo!

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.

Fintech

Jakarta-based fintech Akulaku raises $200M from Japan’s largest bank

Business Investments

Jakarta-based fintech Akulaku raises $200M from Japan’s largest bank
via TechCrunch

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.







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