Fintech Industry Trends

In 2021, I became the first woman to head a unicorn in Israel, AKA Startup Nation. In many parts of the world, women are excluded from even the most basic financial services, so leading a fintech company is far from their reality. United Nations data estimates that 3.8 billion women live in the world, 50% of which are adults. According to the World Bank’s Global Findex Database, 1.4 billion of those 1.9 billion adult women, are unbanked. That’s 73.65%. Visit that statistic again. It represents a disturbing gender gap in financial access, with women being far less likely than men to have bank accounts or access formal financial services. This financial exclusion has personal impact. It diminishes women’s economic empowerment by restricting access to education and limiting their potential for personal growth and independence. It makes women more financially dependent, and therefore, more vulnerable. There's economic impact, too. Research by McKinsey highlights the economic loss due to financial exclusion of women, noting that closing the gender gap in labor force participation could add trillions to global GDP. Financial inclusion isn’t just a matter of equality – ensuring the same opportunities for all. It’s a matter of equity - ensuring women have the tools and access they need to fully participate in the global economy. That’s where technology enters the picture to level the field. The rise of mobile banking is a great example of innovation enhancing financial inclusion. According to a report by the International Finance Corporation, mobile money accounts are more popular among women in regions like Sub-Saharan Africa, where access to traditional banking is limited. Various fintechs provide financial literacy resources, helping women understand financial products, budgeting, and saving strategies. Other solutions include AI-driven platforms that offer personalized recommendations and advice, empowering women to make informed financial decisions. Aside from personal apps and solutions, fintechs can facilitate community-based lending and saving initiatives, allowing women to support each other through group savings or microfinance schemes, fostering a sense of solidarity and shared purpose. This International Women’s Day’s theme is "accelerate action". In my mind, nothing accelerates action like innovation. As we mark International Women's Day, let’s advocate and innovate to enhance financial inclusion for women worldwide. #IWD2025 #financialInclusion Papaya Global

Goldman Sachs - "Why Digital Asset Adoption Is Accelerating" The Institutions Have Arrived: 5 Signs Digital Assets Are Going Mainstream The narrative has shifted—from “if institutions will adopt digital assets” to “how fast they can scale.” Goldman Sachs’ 2025 update is a must-read. Here are five takeaways shaping the digital finance revolution: 1. $220B Stablecoin Market and Counting - Stablecoins—once dismissed as crypto's plumbing—are now powering real-world use cases from remittances to cross-border payments. - Today, their supply stands at $220B, equivalent to 1% of the US M2 money supply, and growing fast. Stripe’s acquisition of Bridge highlights this new payments battleground. 2. Tokenisation: From Talk to $18.9T Reality - Tokenized real-world assets (RWAs) are projected to reach $18.9 trillion by 2033 (BCG/Ripple). - Think bonds, real estate, and money markets moving on-chain—bringing real-time settlement, fewer intermediaries, and programmable liquidity. 3. M&A Explodes 15x in Five Years - Digital asset M&A hit $15.8B in 2024, up from just $1B in 2019. - With Coinbase acquiring Deribit and Robinhood buying Bitstamp by Robinhood, it’s clear: TradFi and crypto are converging—and it’s a “buy, not build” moment for market share. 4. Regulatory Clarity = Green Light - From MiCAR in the EU to the SAB 122 shift in the US, regulation is no longer the bottleneck. Instead, it’s becoming a catalyst. - The SEC’s rollback of SAB 121 lowers capital requirements for crypto custody, making digital assets more attractive to banks and institutions. 5. Blockchain Solving Real Problems Today - Walmart cut food traceability time from 7 days to 2.2 seconds using blockchain. - ESG reporting, luxury authentication, and cross-border settlement are just a few of the enterprise use cases going live. So What? - This isn’t hype—it’s hard data. - Institutional adoption is not on the horizon. It’s here. - For founders, CFOs, and policymakers: the question is no longer why digital assets—but how to win in a world that settles in real time.

Latest research tells us that female tech founders, in advanced tech and AI sectors, need twice as much experience as their male counterparts to secure VC funding. They also need a minimum of 12 years of leadership experience to gain VC funding, versus the male average of nine. This is what we mean when we talk about a double standard and a very real gender funding gap. While I know the issue of female founders receiving less VC funding is not new, the latest data, reported in Startups.co.uk, shows little improvement. VC funding for tech startups has slowed, but AI investment remains strong. However, the gender funding gap is glaring, with female founders receiving just 2% of funding in 2023. As AI-focused companies attract record VC investment, the gap risks widening before it improves. Money talks, and it’s time for investors to properly interrogate why female founders receive far less of their funding while facing double the experience expectations of men. To break this cycle, we have to tackle unconscious bias and the lack of women in VC decision-making. Women founders also face smaller networks, less access to mentorship, fewer repeat funding opportunities. The UK Government’s £250m fund for female founders is a step forward, but AI’s rapid growth must not deepen these disparities. I’ll link the report in the comments, but I’d really love to hear from female founders and VCs on what would really move the dial to help close the gender funding gap. It certainly feels like we’re a long way off. Photo credit: Startups.co.uk

During my recent visit to the Bank for International Settlements – BIS Innovation Hub Tour in Zurich, I had the chance to meet David Chaum, the grandfather of cryptocurrencies, and an advisor to my friend’s Melanie Mohr startup, PWR Labs. The insightful interaction occurred amidst a deep dive into the transformative projects aimed at reshaping the financial landscape. Project Nexus aims to streamline global commerce by creating a multi-national real-time payment network which the Reserve Bank of India (RBI) also joined recently. Project mBridge utilizes CBDCs to tackle inefficiencies in cross-border foreign exchange payments. By developing a robust multi-jurisdictional ledger, it ensures faster, secure, and cost-effective transactions, highlighting the practical applications of digital currencies in enhancing financial connectivity. Project Aurora leverages blockchain technology alongside artificial intelligence and machine learning to strengthen anti-money laundering initiatives. This integration enhances data privacy and cross-institutional collaboration, improving detection capabilities across borders. Project Agora involves working with central banks and private sector financial institutions to innovate settlement processes through wholesale tokenized assets and smart contracts. A month ago, I critiqued the concept of the 'Finternet' (https://lnkd.in/g4eVKqYw). At the time, I pondered whether this was a genuine breakthrough or a rehashing of ideas already explored by Ethereum, which has been a pioneer in programmable blockchain technology. Ethereum's framework has paved the way for tokenized assets, smart contracts, unified ledgers, and decentralized finance (DeFi), all of which are elements of the Finternet vision. Engaging with the BIS Innovation Hub has reshaped my view: their projects skillfully integrate cutting-edge blockchain technologies into traditional financial frameworks, not merely repackaging old ideas but weaving them into the global finance fabric. The focus now shifts towards enhancing interoperability across systems, with open blockchains and foundations like Ethereum increasingly playing a crucial role. This synergy promises a future where financial systems are not just connected but are universally innovative and efficient. Stay tuned for more insights from the The Proof Of Work Podcast Europe IRL Tour in the coming days. Thanks to Maha Al-Saadi for the snapshot setting the stage for our next tour in Qatar. 😁 🤝

Welcome to the latest edition of the Fintech Wrap Up Newsletter—this week we’re diving into tokenomics, the UK’s stablecoin ambitions, Ethereum’s evolving architecture, Southeast Asia’s digital payment surge, global open banking trends, and real-world tokenization use cases. All the full reports are available for download at the end of each section. Tokenomics is no longer just a buzzword—it’s the make-or-break factor for crypto projects. Binance’s report reveals how projects are shifting from public sales to community-driven incentives like airdrops and lockdrops. Longer vesting periods and burn mechanisms are helping manage inflation and align incentives. But even the best token model can’t save a weak product—utility, trust, and sustainable demand remain critical. In the UK, Innovate Finance highlights a race against time. While lagging behind global peers, the UK still has a shot at stablecoin leadership—if it builds a forward-thinking regulatory regime. Stablecoins could power AI-driven finance, tokenized securities, and even support the government’s digital gilt ambitions. With London handling 40% of global FX turnover, capturing 10–20% of the future stablecoin market ($20–40B) isn’t far-fetched. Nethermind and Deutsche Bank explore Ethereum’s evolution into an institutional-grade platform. Innovations like Proposer-Builder Separation, Single Slot Finality, and Trusted Execution Environments are transforming how Ethereum handles security, compliance, and real-time settlement. Layer 2 networks offer scalability with governance frameworks familiar to financial institutions. Southeast Asia is rewriting the playbook on ecommerce and payments. By 2028, 94% of online payments will be digital, with mobile wallets, BNPL, and real-time payments leading the way. Indonesia will emerge as the region’s largest ecommerce market, while Singapore and Vietnam push payment innovation forward. Cross-border ecommerce is booming, but it brings complexity. Open banking is going global, with 95 jurisdictions now charting their own paths. Regulation-led models dominate in Europe and the Middle East, while market-driven frameworks thrive in Africa and Asia-Pacific. Broader regulatory coverage enables richer data-sharing, paving the way toward full-scale open finance and cross-sector open data. Tokenization is also moving from theory to reality. Ripple’s report showcases high-impact use cases across bonds, real estate, collateral, treasury, and trade finance—unlocking liquidity, reducing friction, and cutting costs. Meanwhile, JPMorgan and MIT’s joint research proposes a new design standard for payment tokens with compliance, UX, and governance in mind. Until next time—stay curious, and keep building. #fintech #payments #banking

GFTN Global Digital Assets Report This inaugural GFTN Global Digital Assets Report provides a comprehensive cross-jurisdictional analysis of the evolving digital asset ecosystem, focusing on market developments, regulatory trends, and forward-looking policy implications. The report is designed to serve as a practical reference for policymakers, central banks, industry participants, and international standard-setting bodies navigating the rapid transformation of digital money, tokenization, and decentralized finance. Thank You Arthur D. Little | Arjun Vir Singh 🞕 Trends and Key Highlights ➟ At least nine of 12 jurisdictions studied have implemented or are drafting digital-asset frameworks, signalling growing recognition of responsible innovation in the space. ➟ 47% of survey respondents highlighted that digital assets could enhance efficiencies in cross-border payments, while 36% projected new financial services driven by programmability and smart contracts. ➟ A majority of respondents surveyed see capital market efficiencies via tokenisation (56%) as key growth opportunities for digital assets, with nearly half (46%) also highlighting programmable money as an emerging frontier. ➟ Asia leads in cross-border payments and tokenisation pilots, driven by public-private collaboration and live projects such as Project Nexus. ➟ Europe continues to advance regulatory clarity through MiCA and digital-euro trials. ➟ The Middle East is emerging as a fast-growing innovation hub, leveraging digital-asset sandboxes and sovereign-wealth investment. ➟ The Americas are moving toward institutional adoption, supported by the U.S. GENIUS Act and listings of digital-asset exchange-traded funds. 🞕 Real-World Impact ➟ Small and medium enterprises (SMEs) gain faster, cheaper access to cross-border payments and financing through tokenised assets and programmable money. ➟ Migrant workers benefit from instant, low-cost remittances powered by stablecoins and interoperable payment systems. ➟ Investors can access fractionalised portfolios of previously illiquid assets such as infrastructure and real estate. ➟ Governments and regulators leverage blockchain-based transparency to improve supervision and public-sector efficiency. ➟ Financial institutions deploy blockchain and AI-enabled compliance tools to reduce settlement times and strengthen risk management. Excellent Report By combining first-hand inputs from global decision-makers with structured analysis of market activity and regulatory frameworks, the methodology provides a comprehensive and forward-looking assessment of the industry.

The biggest issue in finance is in the leadership rooms! Despite all the talk around inclusion, the finance industry still struggles to include half the population meaningfully. Walk into most boardrooms in banking or asset management, in India or abroad, women are still underrepresented, underpaid and underacknowledged. And while India doesn't have widely published gender pay gap data for finance, anyone who's worked in the sector will tell you - It’s no different here. I’ve spoken to women in investment banking, consulting, VC, fintech and the stories echo. From being left out of key conversations to being passed over for promotions after returning from maternity leave, it shows an inferior culture! And this culture is expensive for the industry itself. Because when finance sidelines women, it slows down innovation. The real change will only happen when senior leaders stop seeing gender diversity as an HR goal and start seeing it as a business imperative. In India, especially, the opportunity is huge. We have a growing pool of incredible women entering finance. But we need retention, respect and rise. Because until the finance industry becomes as diverse as the people it claims to serve, it’ll always be missing something. And that something is greatness. Have you ever faced similar bias? #finance #stereotype #moneymanagement

While mentoring a young founder I noticed something She pulled out her phone to pay for coffee, then showed me her startup's dashboard where 92% of her customer transactions happen digitally. Her suppliers? All on UPI Her credit card? Applied for the day after her first funding closed to build her credit score early She's 24. And she represents exactly what Amazon Pay India Kearney's "How Urban India Pays 2025" report captures: India isn't just going digital. We're fundamentally rethinking how money moves. The numbers are staggering. India's retail digital payments are projected to cross $7 trillion by 2030 The real story: this isn't about tech adoption only, its about behavioral transformation across every demographic What caught my attention: ↳80% of women entrepreneurs now run cashless businesses ↳UPI dominates (34%), followed by cards(20%) & wallets(8%) These aren't convenience choices. They're strategic decisions about financial control and business efficiency. ↳65% of Gen Z professionals applied for credit cards immediately after their first job. ↳Not for impulse purchases, but to manage expenses with a credit line (32%), earn cashback (30%), and build credit scores early (23%). That's financial literacy in action. ↳Small towns are catching up fast ↳Digital payment preference in offline purchases jumped from 42% to 50% in just one year ↳The gap between metro cities (62%) and small towns (50%) is closing faster than anyone predicted ↳The shift I'm seeing in my work: When I mentor fintech teams or advise on payment infrastructure, the conversation has changed Five years ago, we focused on driving adoption Today, we're optimizing for trust, personalization, and seamless experiences across multiple payment modes 61% of users stay loyal to a digital payment method because of convenience But 60% of Gen Z switch platforms regularly, chasing better rewards (33%) or faster transactions (28%) The market needs both stability and innovation Trust remains the foundation. 47% actively assess safety measures before trying new payment methods 45% seek platform trustworthiness Even with widespread acceptance, 36% of cash users cite merchant acceptance issues as their barrier to going fully digital ↳What this means for India's financial future: This isn't just a payments story It's about women taking charge of business finances It's about young professionals building credit profiles from day one It's about tier-2/3 cities leapfrogging traditional banking infra The question isn't whether India is ready to go cashless. It's whether we're building the next layer of financial services that these digitally native, financially savvy users will need next. What's driving your payment choices these days: convenience, rewards, security, or something else entirely? You can read the full report here: https://lnkd.in/gPwWGfxs #AmazonPay #KearneyIndia #HowUrbanIndiaPaysReport #DigitalPayments

UK financial regulation is at a pivotal inflection point in 2025, as the Government and regulators embrace a growth-focused agenda. This shift opens up unique opportunities for firms to actively shape regulatory change. However, firms will also face significant challenges, including navigating outcomes-based regulatory approaches, managing complex risks that evolve rapidly, and optimizing cost efficiency in an ever-changing landscape. In this dynamic environment, firms must harness technology and AI to drive efficiencies, deliver positive regulatory outcomes, and strengthen their human capabilities to make value-added judgements and provide oversight on technological transformation. Our latest #EY report delves into what to expect in the evolving regulatory landscape and highlights the strategic approach firms can adopt to stay ahead of these challenges. 🔑 𝗞𝗲𝘆 𝗿𝗲𝗴𝘂𝗹𝗮𝘁𝗼𝗿𝘆 𝘁𝗵𝗲𝗺𝗲𝘀 𝗳𝗼𝗿 𝟮𝟬𝟮𝟱: 📈 𝗚𝗿𝗼𝘄𝘁𝗵 - Regulatory focus shifts towards economic growth, offering opportunities for firms to shape regulations and drive efficiencies while maintaining high standards. 🤖 𝗗𝗮𝘁𝗮, 𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝘆 & 𝗔𝗜 - Leveraging AI and digital tools to reduce compliance costs, improve regulatory outcomes, and enhance data management for better decision-making. 💡 𝗖𝗼𝗻𝘀𝘂𝗺𝗲𝗿 𝗱𝘂𝘁𝘆 & 𝗳𝗮𝗶𝗿 𝘃𝗮𝗹𝘂𝗲 - Focus on fair value and protecting vulnerable customers, with increased scrutiny on governance and accessibility. 🏛️ 𝗚𝗼𝘃𝗲𝗿𝗻𝗮𝗻𝗰𝗲 & 𝗿𝗶𝘀𝗸 𝗰𝘂𝗹𝘁𝘂𝗿𝗲 - Strengthening risk culture, empowering staff for complex decisions, and ensuring boards effectively meet evolving regulatory expectations. 💼 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗖𝗿𝗶𝗺𝗲 - Intensifying efforts to combat fraud, money laundering, and ensuring robust financial crime controls, including monitoring of payment delays and sanctions. 🔒 𝗢𝗽𝗲𝗿𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗿𝗲𝘀𝗶𝗹𝗶𝗲𝗻𝗰𝗲 - Meeting operational resilience deadlines, investing in risk management and infrastructure to safeguard against disruptions and build customer trust. 🏦 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝘀𝘁𝗮𝗯𝗶𝗹𝗶𝘁𝘆 - Addressing key prudential reforms such as Basel 3.1 and Solvency UK and manage exposures to non-bank financial institutions (NBFIs). By adopting a strategic approach, firms can shape the future of regulation, focus on AI innovation, and embed outcomes-based regulation into their broader corporate strategy, all while managing evolving risks and delivering strong business growth. #UKRegulation #FinancialServices #AI #EconomicGrowth #Compliance #TechInnovation #RiskManagement #Governance #FinancialStability Christopher Woolard CBE, Karl Meekings, Maureen L. Do Rego, Saket Chitlangia, Amal Shah, CFA, Karan Chowdhary, Siddhant Garg, Ankit Srivastava

Fintech is moving fast – but in different directions. Some markets are eliminating fees. Others are tightening regulations. And new payment rails are being built in real time. The below report breaks down the shifts shaping fintech across Asia, the Middle East, and Europe. Here are my key takeaways: 🔶 Open finance is expanding. The EU’s FiDA framework goes beyond open banking, enabling data-sharing for mortgages, pensions, and crypto. 🔶 Real-time payments are unlocking credit. India’s UPI now supports sanctioned credit lines, creating new lending opportunities. 🔶 Transaction fees are disappearing. Stablecoins are slashing remittance costs, and in some regions, they’ve already overtaken Visa’s transaction volume. 🔶 Cross-border payments are streamlining. Instant payment networks across Asia are linking up, making international transfers easier. 🔶 Biometric payments are gaining ground. Palm-pay technology offers a secure, contactless way to authenticate transactions. 🔶 AI-powered scams are rising, and financial institutions are stepping up fraud prevention. 🔶 Regulators are testing the future. Sandbox initiatives in Saudi Arabia, Singapore, and the UK are experimenting with tokenised assets and embedded payments. 🔶 Tech talent is in high demand. Fintech firms are competing with big tech to attract engineers, with impact-driven roles standing out. What’s next? It depends on where you look. #digitalfinance #openbanking #financialinclusion #couchonomics #payments #fintech #embeddedfinance #digitalassets #futureofmoney #futureoffinance - ⁠- - - - - - - - - - - - - - - - - - - - - - - - - - - 👍 Hit like ♻️ Share it with your network 📢 Drop a comment 🎙️ Check out my podcast Couchonomics with Arjun on YouTube 📖 Get my weekly newsletter on LinkedIn: Couchonomics Crunch 🕺💃 In the MENA region? Join our Fintech Tuesdays community! 🤝 Let's connect! - ⁠- - - - - - - - - - - - - - - - - - - - - - - - - - -