Weekly research highlights 16 October 2020

The Financial Stability Board (FSB) presents in a late report, “Regulation, Supervision and Oversight of “Global Stablecoin” Arrangements”, issues concerning the regulatory, supervisory and oversight implications of global stablecoins (GSCs) and their primary purposes. As such, the analysis explores insights into stablecoins used for wholesale market purposes and those that may pose risks to financial stability only in some countries or regions. Read more

The Report of the US Attorney General’s Cyber Digital Task Force, “Cryptocurrency: Enforcement Framework”, explains the overview on latest trends and changes in terms of the crypto sector. The analysis presents the different purposes and uses for cryptocurrencies, including risk, such as cyberattacks and terrorist activities. The report also highlights the main institutional and governmental bodies, and new established partnerships in order to combat national security threats involving cryptocurrency. The last section of the paper addresses potential solutions and plans for the public use of cryptocurrencies. Read more

According to a recent report from McKinsey, although the European start-up ecosystem is on the rise, there are still numerous challenges to be addressed. Compared to the US, Latin America and Asia, European start-ups are remaining behind in terms of successful results. With fewer start-ups overall, less fundings received, lower success rates, Europe only creates 14% of the worlds’ unicorns. As emphasized by the report, the main issues lie in the fragmented domestic value pool, getting large fundings, multiculturality and obstacles in attracting new talent. Read more

“The mobile finance report: A global benchmark of banking and payment apps” by Adjust and Apptopia explores the H1 2020 overview of fintech apps and follows certain key performance indicators, such as average time session per user in-app and retention rates. The criterion of comparison relies on geographical regions to formulate a complete image of finance apps’ health in 2020, which include data from Brazil, Great Britain, Germany, Japan, Russia, Turkey, Ukraine and the US. Read more

“The Global Standards Mapping Initiative” released by the World Economic Forum and the Global Blockchain Business Council (GBBC) contains a series of reports highlighting blockchain industry standards, collecting data from over 30 technical standard-setting entities, 185 jurisdictions, and nearly 400 industry groups. The Initiative describes the current map regarding blockchain technology and digital assets, formulated on three categories: technical standards, legislation and guidance, and industry best practices and standards. Read more

The anti-money laundering sector is gaining momentum, with an estimated worth by 2025 of $1.99bn. The main reason behind the forecasted growth lies on multiple key elements, such as stricter regulations being imposed due to high number of terrorism activities, corruption and organized crimes. In order for businesses to comply with the new imposed norms, cybersecurity options are being established and adopted. Read more

“The 2020 McKinsey Global Payments Report” highlights five major subjects where payments and bank executives can pay extra attention during times of transition imposed by the current pandemic. The analysis presents the importance of the playing field and argues that a customer portfolio is essential, especially with the rise of the  small and medium-size enterprise segment. Furthermore, the findings show that services and solutions are more important than financial products, sales excellence is a must, efficient transaction-banking client experience and digital transformation. Read more

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