This week’s roundup will feature titles on digital currency, investment in stocks and cash protection. Join us and Unlimit BaaS’ Managing Director, Jovi Overo in the exploration of some of the biggest headlines of our industry.
- The Bank of Canada has been researching the potential of an offline CBDC to boost financial inclusion and preserve privacy needs. [source: Fintech Global]
A CBDC that operates offline will add a greater level of resilience for those in communities which suffer from breaking internet. Remote regions will be able to make purchases and store their currency safely, even if it is offline. This digital growth will be a valuable asset to run alongside the use of cash payments and if it is a successful launch, it could create radical change in closing the inclusion gap. – Jovi
- The UK Financial Conduct Authority is expanding its enforcement range against illegal crypto ATMs. Row covering grounds as far as from Leeds to East London. [source: CoinDesk]
The illegal selling and use of crypto is a stain against its potential in digital society. However since 2022 when the FCA first warned businesses, it is understandable that there are now going to be stricter measures in place. Crypto ATMs are still illegal, and the crackdown on these transactions is essential to remove the high risk investment, and protect the interests of those who are not fully educated on the currency. – Jovi
- A not-for-profit members organisation, FinTech Wales, has come together with Chwarae Teg to partner with Code First Girls to offer training and employment opportunities for women in tech in Wales. Code First Girls is a social enterprise offering free coding courses to women and non-binary people across the UK [source: Finextra]
This fantastic collaboration has come at a great time, in tandem with International Women’s Day. There is great potential across both genders, and the opportunity to upskill is a fantastic way to close the gender gap which leaves women as a smaller percentage of STEM employees. A diverse workforce will only continue to greater enhance the innovations of fintech. Exciting times! – Jovi
See you next week, back in the blog for your next weekly news roundup.
