At FTT Embedded Finance UK & Europe 2021, we interviewed Alex Reddish, Managing Director at Tribe Payments, a B2B UK fintech providing app-based banking and payments services. Founded in 2018, Tribe it is the first processor to enable its clients to harness open banking without building their own APIs.
Alex shared his thoughts on the disruptive industry trends he is currently seeing, “In the fintech industry I have seen huge aggregation of the digital and the physical.” He added that he views digitalization of CBDCs (Central Bank Digital Currencies), crypto and NFTs as trends that are here to stay.
This is just the beginning of the wave of innovation propelled by the COVID-19. The ecommerce boom catalysed by pandemic has shifted consumers’ perception and mitigated possible fears, not only when it comes to retail shopping, but has also driven in the adoption of cross-border payments transactions, the use of crypto, and other digital currencies.
In 2021, crypto’s market cap started at USD $800 billion, skyrocketing to USD $3 trillion by the end of the year. This trend has also unfolded another underlying trend: Central banks around the world want to launch their own digital currencies. The rise of new digital platforms, such as the metaverse and GameFi together with the mainstream adoption of crypto has had a huge and positive effect on NFT transaction volume.
Watch the full interview below.
We will continue this discussion at FTT Embedded Finance & Super Apps on 26th April, London, where we focus on crypto payments, as well as the future trajectory of payments. Register now to join our community as we explore the key trends, technologies and innovations that are driving embedded finance & super apps in 2022 and beyond.