The UK is a leading FinTech market: it now needs to embrace digital assets

Written by Charles McManus, CEO Clear.Bank

The United Kingdom has solidified its leading status in FinTech by becoming the primary choice for this sector, with 134 technology unicorns in the last ten years whereby exceeding the combined totals of France and Germany. Despite economic headwinds, the UK has remained resilient and appealing to investors, sustaining its leadership. During the initial quarter of 2024, the FinTech industry in the UK successfully secured $1.4 billion in funding through 73 funding rounds, adding to a total of $3.9 billion raised by British start-ups within this timeframe. The UK's FinTech sector benefits from a robust regulatory framework and plentiful access to capital, boosted by initiatives such as the Financial Conduct Authority's sandbox program which fosters innovation while maintaining regulatory integrity. The Bank of England has also been supportive, creating the Digital Securities Sandbox for tokenised assets and so helping UK businesses to foster innovation in a safe and controlled manner.

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