London Looks to become Future Global Financial Hub for Bitcoin
Great Britain made an epic mistake about 150 years ago. When the United Kingdom, not Germany, not the United States, was the original home of the automobile's innovation. This is not well-publicized in Western culture because of the epic failure in the story, and how swiftly the U. K. acted in its own demise. Instead of welcoming the automobile as a technological marvel that'll not only provide freedom of travel to the masses someday, but also a massive industry they could cultivate domestically, they shunned the automobile. Instead of a technological advancement, British regulators saw....
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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....
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....
Despite the Brexit, London still holds a lot of merit for the Fintech and blockchain industry moving forward. Blockchain institutions will continue to focus their attention on London, as it remains the financial capital of the world for the time being. Agentic Group, one of the more respected blockchain consortia, has opened its London Office yesterday. This is an interesting decision, as the company hopes to boost FIntech in the UK in the wake of the Brexit. Most people active in the world of blockchain and cryptocurrency have come across the name Agentic Group at some point. The New....
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....
With London moving out of the European Union, Germany, Switzerland, Greece, and Lithuania emerge as potential fintech hubs of the future. London has so far been considered as the financial powerhouse of the European Union. With Britain, all set to separate from the EU following its Brexit vote, the position is now open for others to fill in. While Germany and Switzerland remain the most favored replacement for London, there are two unlikely contenders — Greece and Lithuania making a hard push to attract fintech and blockchain startups into their country. Since the announcement of Brexit,....