Crypto News: Fueled by Bitcoin, Fintech Booms in Europe as its Banking Cartels Aim to Slow Pace

Seemingly overnight, fintech companies, and those related, swooped and drained billions from a lucrative lending market previously thought to be institutionally locked down.

Companies such as Amazon.com Inc., PayPal Holdings, Square Inc., better put perhaps, catered to an underserved market : smaller merchants denied by notoriously stuffy banks on the continent. These unconventional lenders found an opening that trusted institutions could not be bothered with.

“We give [smaller merchants] access to capital when others don’t,” Amazon’s Vice President, Peeyush Nahar, pointed out. More agile, less-traditional and less politically-connected companies “get [a smaller merchant’s] business model when maybe others don’t.”

Full story at http://bit.ly/2yIu9ha

Source: Bitcoin News

 

 

 

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