2022 was not the best year for the Fin-tech industry. If we look at the US stock market, payment stocks underperformed the S&P 500, which fell by around 15%. Cryptocurrencies have dropped significantly as a result of the FTX bankruptcy.
Stripe, a digital payment company, plans to lay off 14% of its staff. Stripe was valued by investors at $95 billion in early 2021. A few months ago, Stripe's value was slashed by 28% to $74 billion.Indicators in other companies also point to recessions.
Interestingly, Apple introduces fin-tech functionalities. At the Worldwide Developers Conference 2022 in June, Apple officially announced the "Buy Now, Pay Later" functionality.
If you run fin-tech projects, do you notice budget cuts, slowdowns or withdrawals from projects?
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