UK’s Financial Technology Investments Decline by More than 50% in 2022
It is reported that the latest report of KPMG shows that the total investment in UK\’s financial technology fell by more than 50% in 2022, and the investment in…
It is reported that the latest report of KPMG shows that the total investment in UK’s financial technology fell by more than 50% in 2022, and the investment in UK’s financial technology fell from 39.1 billion US dollars in 2021 to 17.4 billion US dollars in 2022. In 2022, the total investment in global financial technology fell to $164.1 billion in 6006 transactions. Payment remains the strongest area of global financial technology investment, with an investment of $53.1 billion, compared with $57.1 billion in 2021. In contrast, the investment in cryptocurrency and blockchain has dropped from US $30 billion in 2021 to US $23.1 billion in 2022. The decline in the second half of 2022 was particularly significant because the review in this area increased significantly after the collapse of Terra (Luna) in May and the bankruptcy of FTX in November.
Global Fintech’s investment in cryptocurrency and blockchain will fall to 23.1 billion US dollars in 2022
Interpretation of the news:
The latest report from KPMG shows a significant drop in financial technology investment in the UK in 2022, with a decline of more than 50% from the previous year. In 2021, the UK’s financial technology investment was at $39.1 billion, while in 2022, it fell to $17.4 billion. Globally, the total investment in financial technology in 2022 also decreased to $164.1 billion in 6006 transactions.
Despite the overall decline, the payment area remains the strongest in terms of global financial technology investment, with $53.1 billion invested. This figure, however, shows a decrease from the previous year, where the investment was at $57.1 billion. On the other hand, the investment in cryptocurrency and blockchain has significantly dropped from $30 billion in 2021 to $23.1 billion in 2022.
The report highlighted the significant decline in the second half of 2022, following the collapse of Terra (Luna) in May and the bankruptcy of FTX in November. These events may have contributed to the decrease in investment in the cryptocurrency and blockchain sector.
The decline in the UK’s financial technology investment in 2022 may have been influenced by several factors. The ongoing uncertainty caused by Brexit and the COVID-19 pandemic may have made investors hesitant in pouring in funds into the industry. There might also be regulatory concerns surrounding the sector, which have been a growing issue in recent years.
Despite the decline in investment in financial technology, it is worth noting that there are still opportunities for growth and innovation, especially in the payment sector. With more people embracing digital payments amid the pandemic, the demand for innovative payment solutions is expected to increase. Companies that can provide secure and user-friendly payment solutions are likely to attract more investment.
In conclusion, the KPMG report suggests that financial technology investment in the UK has significantly declined in 2022. While the payment sector remains an area of strength, cryptocurrency and blockchain investments have dropped. The reasons behind this decline may be complex, but there are still opportunities for growth and innovation in the industry.
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