Sophie Guibaud , OpenPayd , on Open Banking and Banking as a Platform
Sophie Guibaud , OpenPayd , on Open Banking and Banking as a Platform
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On the reverse side of the coin , PayPal signalled its entry into the crypto market in late 2020 . In the US , users will soon be able to buy , sell and hold cryptocurrencies within their existing accounts , a move analysts predict will be a milestone for opening the market up to the mainstream . Sophie Guibaud , Chief Growth Officer , OpenPayd says PayPal ’ s new functionality “ could be a major step towards mass adoption among consumers ”, a trend that was already picking up steam under the coronavirus pandemic , as interest rates in traditional channels virtually dried up .
Fintechs were more than happy to meet demand . “ COVID-19 drove significant disruption in the asset management industry ,” says Simon Jones , Chief Customer Officer , ClearBank . “ On one hand customers pursued emerging asset classes like crypto in the pursuit of returns as interest rates remain low . And on the other hand , they gravitated towards digital native offerings that offered better functionality and transparency than analogue rivals .” Jones believes incumbents will fight back in 2021 , “ as existing asset management and investment platforms reinvent
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