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What could a "No Deal" Brexit now mean for the U.K. Fintech Industry?, How China got a hea



What could a "No Deal" Brexit now mean for the U.K.'s Fintech Industry?


For those of you suffering from Brexit-fatigue, here is just a brief summary of where the U.K. currently stands: If the U.K.’s draft withdrawal agreement on leaving the EU is indeed voted through by its Parliament, then Brexit will occur in March 2019 and a ‘transition period’ will begin. This will last until, at the latest, December 2020 during which time the British government will agree upon its future relationship with the EU. If the British government is unable to reach an agreement with the EU during this time then...

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Category: UK Fintech

Image & article ref: forbes.com

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How China got a head start in fintech, and why the West won’t catch up


Ant Financial’s Alipay and Tencent’s WeChat have changed the way many people live their financial lives. They are one-stop shops that enable half a billion Chinese to access a dizzying array of services, from payments, loans, investments, and credit scores to taxi rides, travel bookings, and social media. Because so much is sold via these apps, Alibaba and Tencent know the health (or lack thereof) of many small businesses across China. As a result, they can lend to companies that banks might consider too risky.

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Category: Fintech East vs. West

Image & article ref: technologyreview.com

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London-based fintech startup Flux raises €6.6 million to bring receipts into the digital age


Founded in 2016, Flux‘s mission is to bring receipts out of the paper age and into the digital age. The London-based startup provides digital receipts and loyalty rewards by linking them to payment cards and banking apps. The startup has just closed a €6.6 million Series A round led by e.ventures, along with existing investors PROfounders and Anthemis. Flux is currently available for customers of Barclays via Launchpad, Starling Bank, and is doing a pilot with Monzo Bank. On the retail side, Flux counts partners like Pure, Costa Coffee, EAT., pod and itsu.

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Category: UK Fintech Startup

Image & article ref: eu-startups.com

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United Kingdom Releases Tax Advice for Cryptocurrency Investors


The United Kingdom tax collection service published its first detailed tax legislation for private cryptocurrency holders Dec. 19 following a lengthy consultation period. Its new policy paper, “Cryptoassets for Individuals,” sets out likely tax obligations for private investors who buy, sell, get paid in and even lose cryptocurrency. Capping months of uncertainty among U.K. taxpayers over what they need and need not report to authorities about their holdings, the latest information is officially endorsed by...

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Category: UK Crypto Tax

Image & article ref: cointelegraph.com

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