The war in Ukraine continued to dominate the headlines this week as large financial institutions and fintechs had to adjust to a world of tough sanctions on Russia. We also had earnings from SoFi, a new digital banking report from Cornerstone Advisors and more. Here are what I consider to be the top ten fintech news stories of the past week.
Ukraine Invasion Upends the Fintech World from the Observer – While much of fintech has prided itself on its ease of use and global outlook the war in Ukraine has changed the equation for many firms as they respond to sanctions or make their own decisions about the right thing to do.
Visa and Mastercard block Russian banks from their networks after sanctions from CNBC – With Visa and Mastercard controlling 72% of the card market in Russia and 300 million cards in circulation this move is going to have a dramatic impact on how Russians can transact.
Why Russia’s Ukraine invasion is crypto’s moment of truth from Axios – Then, of course, there is crypto. While there is scant evidence that the…