Saudi FinTech Hub: An Advanced Ecosystem for FinTech Investments
The advent of the smartphone has led to an explosion of financial technology (fintech) startups. After the financial crisis of 2008, we have entered a new era of fintech revolution, with the rise of blockchain and cryptocurrencies. This new wave of technology has also led to alternative forms of payment, financing or loan. In recent years, fintech has become an integral part of any financial market ecosystem, with emerging markets and developing countries being the flag carriers of this new transformation, including Saudi Arabia. In the Kingdom, the central bank ( SAMA), in partnership with the Capital Market Authority (CMA), has launched Fintech Saudi to support the development of the fintech industry with the objective of becoming the regional hub of choice for entrepreneurs and investors.In the latest annual report from Fintech Saudi, there are some interesting statistics to note. First, the fintech industry is growing at a …
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