Sweden Presents Itself as an Attractive Post-Brexit Fintech Destination
Sweden has emerged as a favorable alternative to fintech companies planning to set up base in EU following Brexit. With Brexit around the corner, Sweden could present itself as one of the alternative destinations for the European financial industry. The upcoming Brexit has turned into a speculator’s game. Britain’s exit from the European Union is expected to have a divisive effect on the country’s thriving finance and financial technology sector. All the efforts put in by the City of London to foster a healthy fintech ecosystem may go to waste as companies risk losing free access to the EU....
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UK's bustling fintech sector may soon be a history if the country doesn't introduce an alternative to EU passporting regulations. Britain’s digital currency ecosystem is in peril. The impending collapse of Britain’s fintech ecosystem has already been covered on multiple occasions. A recent report published by the House of Lords committee reinforces the industry’s perilous position post-Brexit vote. The report addresses the threat to over 7 percent of UK’s GDP as the UK fintech sector, headquartered in London currently employs over 1.1 million people from across the world. The report titled....
The recent Supreme Court ruling requires the British government to get parliamentary approval before initiating the Brexit process, fintech industry faces uncertainty. Brexit is a crucial event for the fintech and blockchain sector. The post-Brexit world will decide the fate of the European Fintech ecosystem. But the separation of England from the European Union may not be happening anytime soon. According to reports, the English Supreme Court has ruled that the Prime Minister of Great Britain, Theresa May has to seek the approval of the parliament before setting the wheels of Brexit in....
Following the Brexit vote in June, there has been a significant drop in venture capital funding in London, prompting some to think that the city could lose its position as the FinTech capital. According to a report from the Financial Times, new figures released show that funding in the FinTech sector dropped in 2016. Innovate Finance, the U.K.’s financial technology trade body, found that since Brexit venture capital funding dropped as FinTech companies in the U.K. deal with the Brexit effects. Innovate Finance reported that, globally, venture capital funding for FinTech companies grew....
Many fintech startups and established companies are now looking for a new home across Europe due to Brexit. Bulgaria is shaping up to be the top destination for many of them, including crypto, blockchain and licensed electronic money institutions, as proven by leading firms such as SM Digital Holding and Wallex. Meet the Next Blockchain Industry Hub Bulgaria is known for having a good track record with the fintech ecosystem, and for being very competitive destination for money licensed institutions due to its supportive regulations and its good standpoint within Europe. The country is now....
Innovate Finance, the association of fintech and blockchain companies in London, UK to set up fintech hubs in Bahrain and the UAE. London had gained a reputation for being the financial hub of Europe. The capital of United Kingdom has been in the forefront of Fintech innovation, thanks to various initiatives in the past. But with Brexit, things are slowly falling apart. By moving away from the European Union, London has lost the charm of being the gateway to Europe for many companies. As the country becomes less attractive each day, other European nations are trying to replace it as the....