* Our Parent Company Crypto Token is LIVE!!! *Flag Token

Ukraine Invasion Upends the Fintech World

Date:

Share post:

The fintech industry is premised on the idea that transferring money should be fast, cheap, and borderless. But in a matter of days, Russia’s invasion of Ukraine has upended this premise. 

Consider the London-based Wise, which says its mission is “money without borders.” The money transfer company, which used to be named Transferwise, has “temporarily stopped” transfers in Russian rubles, due to ongoing war in Ukraine. 

A Wise spokesperson told the Observer it will “monitor the situation closely and comply with any sanctions.” It also confirmed it will keep its services to Ukraine, which remain open, “as long as we’re able to do so.” 

All across the globe, companies founded to make financial transfers as easy and quick as possible now have to adapt to a world where such transfers can be a legal or reputational liability. 

Russia’s invasion of Ukraine is hugely unpopular in the West, and businesses have reacted accordingly. Multinational giants like Nike, Apple, Shell and BP are pausing or exiting their businesses in the country. Basic financial…

Read more…

Related articles

Ipad: India Art Fair 2023: These three artists showcase digital works of art on iPad Pro

The 14th edition of the India Art Fair begins today (February 9) at NSIC Exhibition Grounds, Okhla, New...

Bluefin Secures Agreement with Everi to Bring Added Cash Access Security to Casino Gaming Floor – FinTech Futures

Everi is the first gaming provider to integrate to Bluefin’s patented P2PE as-a-service technology ATLANTA–(BUSINESS WIRE)–Bluefin, the recognized...

Blur tops critical metrics in race to ace NFT marketplace, but…

Blur has dominated trading volume throughout February 2023. It has, however, lagged in the number of transactions. Blur has come...

Dormant Satoshi-Era Wallet Moves $9.6M Bitcoin After 11 Years

A Bitcoin BTC/USD address that had been dormant for more than a decade suddenly sprung back to life...