Fiat

The cryptocurrency ecosystem is vast and growing, with new segments sprouting up faster than innovation can keep up. Early on, the industry consisted of miners and hobbyists who were in it for the tech.

It is now a fact that more and more people are making profits in cryptocurrency. This applies not only to investors and traders, but also the many people that receive cryptocurrency as payment for their labor.

Swapin, an EU-regulated crypto payment provider known for crypto-to-fiat solutions, has announced the release of its newly redesigned app with enhanced convenience for business accounts.

Regardless of the transformation cryptocurrency has introduced in the payment and  transaction industry, digital assets are still facing resistance in some countries. A good number of governments have shown concerns of cryptocurrency threatening their traditional fiat currency,  finance and economy.

Slovenia's Finance Ministry plans to tax transactions on exchanging fiat money into cryptocurrencies. To ensure that the new framework does not impact the economy, the authority is seeking feedback from the local community before actually implementing it.

eCommerce is one of the most rapidly expanding sectors within the global economy with a forecasted growth of 25% CAGR over the next five years. The desired sub-industry in the sector is hyperlocal last mile delivery. This is essentially localized home delivery in less than 60 minutes.

In some countries, bitcoin is seen as a legal payment platform, whilst in others, there are regulations pertaining to how betting with cryptocurrency operates.

The DeFi space is evolving rapidly and both existing, as well as upcoming players, need to continuously innovate to survive. Flare Finance, the first DeFi platform on the Flare Network might have gained a unique competitive advantage with its latest announcement.

Decentralised Finance (DeFi) saw exponential growth in 2020 and 2021 promises to be yet another defining year. What’s particularly exciting is how DeFi has coincided with broader trends in banking and the rise of fintech 2.0 and neobanks.