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“ONE OF THE BIGGEST DRIVERS OF GROWTH IN OUR NOVICE INVESTOR BASE HAS BEEN OUR INVESTMENT INTO DIGITAL”

JAMES HEWITSON

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Head of Wealth and Investing, HSBC UK 

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“THE MOST EXCITING CHANGES HAPPENING IN THIS SPACE TODAY ARE AT THE INTERSECTION BETWEEN EMBEDDED FINANCE AND OPEN BANKING”

BEN AIER

VP Product, Yapily 

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“CRYPTO’S FLEXIBILITY MEANS IT IS NOT AS HEAVILY IMPACTED BY COUNTRY OR REGION-BASED ECONOMIC LANDSCAPES”

JURIJS BOROVOJS

CTO, Transact365 

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BRACE FOR THE ONGOING CRYPTO WINTER

2022 wasn't kind to crypto. In fact, the price of every leading currency has fallen significantly as a result of the TerraUSD and LUNA collapse. The fallout has caused a freeze within the industry in terms of expansion, as well-known players such as Coinbase have rescinded offers and shed staff.

Unfortunately, many crypto-related fintechs are now facing financial difficulties. Some are obvious, as in the case of FTX; others are yet to be revealed, though the fallout of the crypto crash is ongoing. Furthermore, this period of continuously lowered prices looks set to continue, with the fiat financial markets also struggling for stability.

The downturn is ongoing and the prices on the vast majority of the largest 100 cryptocurrencies by market cap have fallen by double-digits year-to-date.

The last crypto winter – which occurred in 2018 – saw the price of Bitcoin fall by over 50% from its all-timehigh in the middle of a bull market in traditional finance.

Winter is here, and it’s already looking more serious than the last.

BY THE NUMBERS

WE ASKED YOU: WHICH INVESTMENT SPACE IS MOST ATTRACTIVE TO GEN Z WOMEN?

44% Real Estate

16% Art

19% Bitcoin 20% Stocks

43 CHALLENGER BANKS LAUNCHED IN 2022 Despite the global marketplace experiencing a downturn, the launch of 43 new challenger banks globally sees a rise of 17.5% on 2021 figures

VODENO’S HEAD OF PAYMENTS TALKS BAAS Krzysztof Hoffman, Head of Payments at Vodeno, discusses the future of BaaS in an unstable economy and its impact on fintech

UAE-BASED PYYPL RAISES $20MN FOR ITS MOBILE FINSERV PLATFORM

UAE-based fintech Pyypl has raised US$20mn in Series B for its mobile payments platform and may consider extending the round due to strong interest  WISE

The international money transfer company, previously known as TransferWise, bagged a US$3.4mn debt facility, making it one of the biggest funding round winners of 2022

 COPPER TECHNOLOGIES

The London-based cryptocurrency custodian Copper Technologies secured $196mn in a Series C funding round in Q4 of 2022

 FTX

The leading cryptocurrency exchange experienced a serious blow following allegations of financial mismanagement, resulting in the failure of a buyout and the bankruptcy of the company

 KLARNA AUSTRALIA

The former industry-leading BNPL Klarna Australia has reportedly haemorrhaged AU$56mn in losses last year.

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