Financial technology is a key player in the larger financial market in 2016. It has taken leaps and bounds in regards to the emergence of apps and platforms that make banking and investing more accessible to the average user.
The Brexit has taken the finance world by storm, with the pound losing value and a lot of stocks plummeting. The market is in total chaos right now, and it is important to look to experts for their predictions on how the Brexit will (and has already) changed the face of global economy, especially in regards to fintech.
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Taavet Hinrikus, CEO of Transferwise, a London-based money transfer platform, spoke about the effect the Brexit has already had and is likely to have on the tech sector.
"We have to wait and see. No one knows what the detail will be, but this is likely to affect regulation and the movement of talent: two massive issues for business," said Hinrikus. "The two main benefits of being part of the EU are access to talent because of the free movement of labour and the fact that you can ‘passport' regulation so if you're regulated in the UK, you' re regulated across the EU. We don't know what's going to happen with either of those."
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.