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Asset manager Schroders has cut the value of its stake in financial "superapp" Revolut by 46%. What are the implications?
Some of Europe's top fintech firms are starting to crumble as investors question their true valuation. Asset manager Schroders has cut the value of its stake in financial "superapp" Revolut by 46%, according to a filing on April 17 that threatens Revolut's title as the UK's most valuable fintech. The writedown suggests the London-headquartered firm is now valued at about $17.7bn (£14.2bn), which is substantially less than the $33bn it was valued at in a funding round last July. Revolut has been criticised for the late filing of accounts, EU regulatory breaches and corporate culture. It has also been waiting two years for regulators to approve its UK banking license. Schroders has also marked down its stake in Atom Bank by 31%. Meanwhile, Allianz is selling its stake in struggling fintech N26 at a heavily-reduced price, according to the Financial Times, while buy-now-pay-later firm Klarna has seen its valuation tumble from $45.6bn to $6.7bn.
President Biden signed Executive Order 14067, officially titled Ensuring Responsible Development of Digital Assets. Today’s guest explains this executive order is very different from “online banking,” and it has nothing to do with crypto, but would possibly give the government the ability to punish citizens for any contribution, purchase, or even social media comment they don’t like.
Financial Technologies and Law
Abstract:
One needs to bear in mind that technology-related improvements have been a hot topic over the past few years around the globe. Traditional financial services have been rendered more globally, more cheaply, more accessible, more easily and more quickly by virtue of digital service providers. In a nutshell, FinTech has been undergoing a major transformation that also directly changes our lives. It is a living phenomenon. Tech-owned payment systems revolutionize and reshape the whole financial environment all over the world. The main intention of this book is to present a comprehensive FinTech guidance to all interested parties, especially entrepreneurs, investors and competent national authorities. It is intended to clarify the changing nature and current structure of contactless payment systems. Although tech-driven models support the facilitation of economic growth and improvement of financial inclusion on the global scale, they give rise to severe hardships in terms of financial stability and integrity. This available research, thus, further offers comprehensive observations about emerging risks and challenges associated with the e-payment financial markets. It is displayed that multifaceted aspects of electronic payment phenomena raise a variety of regulatory needs together with proper supervision over FinTech. Most jurisdictions have already improved legislation for FinTech but there are certain emerging challenges. Additionally, this book focuses on an adequate synthesis of the articulation of FinTech regulations in the light of universal principles. The available research also contributes to identifying the outcomes of supervisory authorities’ intervention and the involvement of judicial institutions in the tech-driven improvement.
My book is available right here: https://scholarpublishing.org/sse/eb351/
International Communication
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Are you interested in understanding something about financial technology and how well it works? Then you'll probably enjoy this article!
The United States has the potential to become the world's greatest economy, as well as the world's top exporter and importer of commodities and services. Export might become vital to America's prosperity, since it fuels productivity expansion, supports excellent jobs at home, raises living standards, but might help Americans provide cheap goods and services for their family.
International business might well be thought to aggravate inequality between developed and developing countries. Some say that the global economy seems dominated by transnational businesses seeking to maximize profits at the expense of local populations terms of intervention. Check disclaimer on profile and landing page.
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Enhancing Financial Services
Sponsored Post:
Did you guys know that financial technology appears to be on the verge of a breakthrough that might automate the distribution and use of financial products? Enjoy the ride, as this post might have important news and insights, take a look at this link!
The term "financial technology" could refer to new technology that aims to improve and automate the delivery and usage of financial services. Fintech, at its heart, might be used to help these other industries, as well as consumers, better manage their financial operations, procedures, and lives through the use of specialized software and algorithms that run on computers and, increasingly, smartphones.
Fintech originally coined in the twenty-first century to describe the technology used in the back-end systems of established financial organizations. However, since then, there has been a shift toward more consumer-focused services and, as a result, a more consumer-focused definition. Check disclaimer on profile and landing page.
