FinTech Weekly - FinTech Around the World - Issue #472

Julie Arnoux, Commercial Lead for Europe at Wise, gives a 30-second overview of Wise in her interview at Money 20/20 Europe.

Hong Kong and Switzerland are advancing in blockchain and cryptographic technologies. To boost these efforts, Invest Hong Kong (InvestHK) and the Crypto Valley Association (CVA) of Zug, Switzerland, signed a memorandum of understanding at the 2024 Crypto Valley Conference. The MoU aims to strengthen the fintech ecosystems in both regions by fostering collaboration and providing updates on market trends.

Deutsche Bank is partnering with Austrian fintech and crypto broker Bitpanda to offer customers real-time payment solutions for asset transactions, according to Reuters.

The pan-African Ecobank Group has opened applications for the seventh edition of its Fintech Challenge, offering $50,000 in prize money. Serving over 32 million customers across 35 African countries, Ecobank's annual challenge invites early-stage and mature startups to compete. Aligned with the bank’s strategic objectives, participants have the chance to win $50,000 and the opportunity to partner with Ecobank to scale their solutions.

In a conversation with Abdallah Abu Sheikh, founder of Astra Tech and CEO of Botim, he discusses the strategy behind Palm Pay and shares insights into the region’s fintech industry. He emphasizes innovation, financial inclusion, and the use of AI for social impact.

Mastercard has launched "Mastercard For Fintechs," a program aimed at supporting fintechs across Western Europe. This initiative provides tools and expertise to help fintechs grow and navigate the challenging fundraising environment. The program offers education, networking, and exclusive tools to foster sustainable growth and profitability. Eimear Creaven, Division President of Western Europe Mastercard, emphasized the company's commitment to innovation and partnership in driving meaningful impact and supporting fintechs at every stage.

The UAE aims to strengthen its AI relationship with the United States. Omar Sultan Al Olama, the UAE’s AI minister, told the Financial Times that Microsoft's $1.5 billion stake in Abu Dhabi-based AI firm G42 marks the beginning of many collaborations. He emphasized the importance of cooperation with U.S. tech players. Microsoft’s investment in G42, announced in April, includes a $1 billion fund for AI developers. The UAE, with $2 trillion in sovereign wealth funds, seeks to reduce its oil dependence by becoming a global AI hub.