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Fintech 2022

Fintech Market Overview

Review of jurisdictions, licensing of financial technologies, fintech regulation, market analytics, top industry leaders, platforms, software.

Australia

The Australian government has taken a more proactive stance on the regulation of digital assets and emerging payments models, with a view to attracting new businesses to the jurisdiction.

Austria

Fintechs are well advised to carefully scrutinise their business models against fairly strict licensing and regulatory requirements applicable in Austria.

Belgium

Belgium can be considered a fintech-friendly jurisdiction. The country is the home of various fintech giants.

Brazil

The authorities are showing cooperative behaviour, acting together to produce norms that could affect the market. They are also combining efforts with the private sector, especially fintech players.

Denmark

The Danish fintech environment is characterised as an ecosystem based on a great deal of innovation and improved access to venture capital.

Germany

The fintech market in Germany has continued to demonstrate growing maturity and has reached a consolidation phase. Fintech companies in Germany have been able to implement commercially viable business models.

Hong Kong

It is anticipated that regulators in Hong Kong will remain cautious towards virtual assets and will continue to adopt a prudent approach by limiting the offerings and distribution of most virtual asset-related products to professional investors only.

India

Fintech players see huge potential in the Indian market, owing to the large population and proliferation of cheap internet services. There is no special fintech licence in India.

Indonesia

The exponential development of the fintech sector is prompting the Indonesian government to regulate fintech activities.

Japan

Fintechs are subject to the application of Japanese laws and must obtain a Japanese licence when seeking to provide financial services to protect Japanese consumers.

Mexico

The fintech industry is strong in Mexico. The ambitious models that are introduced in the Fintech Law, the increased demand for digital products, and a growing globalisation of services, have served as fertile ground for the sector in Mexico.

Portugal

The Portuguese fintech market has recently been experiencing great dynamism, with the entry of new players and stakeholders offering new types of services and products.

Russia

There is no universal fintech licence in Russia. Instead, each fintech business model is regulated separately.

Saudi Arabia

The Saudi market is adapting quickly to global market trends, and innovation is occurring faster than the legislation regulating it.

Singapore

The Singapore government and related statutory boards have identified fintech as a growth area for the Singapore economy. Fintech products and services come in a variety of forms and there is no one fintech licence that applies to all of these.

Spain

Spain should be considered a fintech-friendly jurisdiction, which has been evidenced by the approval of a regulatory sandbox. Spain has not regulated fintech across the board.

Switzerland

Many fintech start-ups and projects show that the legal environment is considered as advantageous. Fintech projects and investments in digital currencies and tokens are therefore taxed like any other traditional investment vehicle.

Taiwan

Taiwan has adopted various initiatives to facilitate financial innovation with the development of technology.

Turkey

Stricter rules to implement financial and information security have been set within the fintech ecosystem.

USA

One of the most complex financial regulatory regimes in the world. All financial activity is regulated by both the states and the federal government, creating a two-tier regulatory framework.

United Kingdom

The UK is one of the world's leading centres for fintech. There are no dedicated fintech tax incentives in the UK, but there are various features of the UK tax regime that make it attractive for fintech businesses.

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