Financial Services

Early adopters of UK open banking changes see most benefit: Regulatory changes designed to benefit consumers are on track to take effect this year. Firms that are slow to adapt risk losing out to nimbler competitors.

Tencent’s WeChat lowered its SMB fees in response to a government directive, and CBDC adoption may complicate business further.

UK fintech limits freelancers’ income see-saw: SteadyPay, which bagged a $5 million Series A, extends no-interest loans to gig-economy workers that they can access during months when they have lower income.

Proposed crypto mining freeze in New York gains traction: Legislation to freeze mining that uses proof-of-work (PoW) and fossil-fuel plants for three years got two new sponsors in the state assembly.

Companies in several markets are offering crypto products that act like bank accounts, and regulators have taken notice.