THELOGICALINDIAN - London has so far been advised as the banking assertive of the European Union With Britain all set to abstracted from the EU afterward its Brexit vote the position is now accessible for others to ample in While Germany and Switzerland abide the best advantaged backup for London there are two absurd contenders Greece and Lithuania authoritative a adamantine advance to allure fintech and blockchain startups into their country
Since the advertisement of Brexit, UK’s fintech industry has started to appearance signs of a slowdown. A contempo report by one of the business annual shows a ample abatement in the arrival of funds into banking technology startups which accommodate Bitcoin and Blockchain companies. The allotment in the antecedent division has collapsed by over 40 percent compared to the aforementioned aeon aftermost year.
In animosity of the banking hardships faced by the country, Greece has emerged as one of the countries with a huge abeyant to drive the fintech industry. The tech savvy, accomplished workforce in Greece are added than able of active the fintech area with avant-garde articles and services. The abounding startup ecosystem and their workaround solutions to affected the banking adversity accept accustomed bearing to a accomplished new brand of entrepreneurs. Also, the Greek entrepreneurs are able-bodied abreast and adequate alive with Bitcoin and blockchain applications, which offers an added advantage.
Lithuania, addition European Union nation contends with Greece’s accomplished workforce by offering concessions and airy regulations to fintech companies. The Bank of Lithuania, Invest Lithuania and Sorainen — a law close accept collaborated to actualize a new authoritative administration for acceding avant-garde startups. The collaborative adjustment has already accomplished some success by accepting EU passporting rights for fintech and blockchain startups accommodating to set up boutique in the country.
Also, the country has fabricated it easier for the companies to accept pre-approved licenses and admission to acquittal networks. In the advancing days, the antagonism will get abundant acute amid EU nations as anybody wants to grab a block of the fintech pie.
