Can London be a Global Bitcoin Hub?
A month after the British government announced plans to implement stricter regulation on bitcoin, other authorities have expressed their desire to make London a hub for the digital currency. Support for the bitcoin was seen as a step closer to financial innovation and leadership, although officials still clarified that regulations should be implemented to prevent the use of the cryptocurrency in criminal activities. Elsewhere in the city, bitcoin enthusiasts have formed a club to discuss ideas on the industry and regularly hold meetings every Tuesday evening. Called the CoinScrum, the....
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American Banker reported that batches ofFinTech startups are relocating to London to engage with large financial institutions and banks through connections from accelerators and mentorships, such as Accenture’s FinTech Innovation Lab, or accelerator Level39. Global investments in FinTech ventures have reached US$12.21 billion, a large portion in London. Sir Edward Lister, chief of staff for the mayor of London, told American Banker: While many U.S-based startups have set their focus on small merchants and consumers, startups in London have pivoted to a model for larger clients, such as....
Three companies are competing to install London's first bitcoin ATM in the coming weeks. The firms, all startups, are awaiting the delivery of their machines from manufacturers Robocoin and Lamassu. They say they have locations staked out, but are keeping mum until they are ready to make an official public announcement. The firm with the most ambitious plan is Global Bitcoin ATM Ltd. The bootstrapped startup plans to install five machines per month in the UK, starting in London. It eventually plans to install machines globally, according to its spokesperson, Terry James. Global Bitcoin....
New York-based bitcoin exchange itBit has hired a securities services and technology veteran to head operations in Europe, the Middle East and Africa. The hire of Jason Nabi comes as the exchange opens a new office in London. Prior to itBit, Nabi worked for major European bank Société Générale as its global business lead for post-trade services. Nabi started his career as a dealer on the London Stock Exchange, and has held senior positions at IBM Global Services, Bloomberg and BNP Paribas Securities Services. He said in a statement: “The industry is at a turning point with distributed....
Harriet Dennys, writing in The Telegraph during the Summer, revealed that London has now overtaken New York and Beijing as the global financial center with the most "economic clout," according to a PwC study tracking the development of the world's 30 leading cities. London achieved the number one position in PwC's Cities of Opportunity index with a margin of 55 points, an increase of two places from last year's third-place ranking, placing it ahead of New York, Singapore, Toronto and San Francisco. London enjoys a growing reputation as the World's technological tech hub. The PwC survey....
Since Britain’s vote to leave the European Union in June, there have been several discussions surrounding London losing its spot as a leading global fintech hub. The topic became particularly interesting after Paris Europlace, which promotes French finance plans, chose to travel to London to entice financial firms and professionals. The French government agency, Business France, also distributed leaflets to promote the benefits of working and living in Paris. On the other side of the border, Frankfurt city officials set up a specialist hotline for banks that want to discuss moving....