Traditional banks have taken different stance towards Digital Assets compared to payment platforms and FinTech firms

It could be argued that, since 2008, banks globally have had a torrid time as they desperately tried to repair their balance sheets and rebuild their capital reserves. The cosy cartel that many banks enjoyed has been challenged as they faced real competition from FinTech firms with governments in various jurisdictions actively encouraging ‘challenger banks’ and ‘neobanks’ (on-line digital banking).

 

The payments eco system

 
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Source: Insider Inteligence

 

Whilst you will no doubt recognise some of the firms above, many are unlikely to be familiar. With increasing competition...