The FCA Considers Bringing Blockchain Startups to UK
The UK’s Financial Conduct Authority (FCA) will possibly approve blockchain businesses within the region. This will give UK-based distributed ledger businesses an edge when it comes to grasping a broader reach towards consumers. The FCA Is Researching Blockchain Startups for Economic Growth. According to the Financial Times (FT), the UK’s FCA is....
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Since 2015, an increasing number of multi-billion-dollar financial institutions such as Goldman Sachs have exhibited their interest in emerging innovative financial technologies and startups. Several major banks and financial organizations have established various investment funds for fintech and blockchain startups, to research the application of fintech and blockchain technologies in the financial market. Blockchain technology focused startups have been the main attraction of these banks. According to the Outlier Ventures research team, there are over 1,000 blockchain startups in....
Recent months have seen blockchain innovation professionals departing legacy financial institutions for smaller startups, but the motivations driving this shift in the industry are less than clear. To date, it’s been one of the less-discussed trends of 2016, given the lack of public dialogue from the major firms affected and the relative quiet of the new startup founders, many of whom are seeking to do business with their former employers. So far in 2016, BNP Paribas, Deloitte, JPMorgan and State Street have all seen members of their blockchain teams depart. This has given rise to a new....
The UK Financial Conduct Authority (FCA) has unveiled a number of blockchain and digital currency projects to its regulatory ‘sandbox’ in a bid to promote product testing and consumer safety. Nine blockchain startups (out of a total of 24) are involved in the fintech sandbox, a development which comes more than two years after the FCA first launched its financial tech-focused initiative ‘Project Innovate’. Within the sandbox, startups test new services and products under the supervision of regulators. The startups involved are Billon, BitX, Epiphyte, Govcoin Limited, Otonomos, Nivaura,....
Research suggests that while the U.K. may be behind the U.S. with the number of blockchain startups, it leads the way in diversity compared to any other country. The world’s first blockchain startup tracker was introduced by Outlier Ventures in May of this year. Its aim was to provide a comprehensive overview of the various projects and information regarding the nearly 1,000 blockchain startups across the globe. Interestingly, while many may think that the U.K. has the highest number of blockchain startups, it is, in fact the U.S. According to Outlier Ventures blockchain tracker, it found....
Simon Dixon, CEO of the online investment platform BnktotheFuture.com outlined his vision for blockchain startups recently at The Internet of Value: Blockchain and Financial Services Innovation conference in London. Making the conference keynote, Dixon laid out the history of bitcoin and blockchain companies, especially those working in the financial services sector, and what he considers lies ahead for the rapidly evolving industry. Dixon’s take as a venture capitalist comes at a crucial time in the industry, which is grappling with making sense of the growing ecosystem of bitcoin,....