IMF fintech survey: Central banks testing crypto waters

July 1, 2019 | FinTech

An IMF survey on global adoption of fintech shows a fifth of central banks are weighing the issue of cryptocurrencies

Are fintech’s stated benefits of financial inclusion and a fillip to growth visible on the ground?

The International Monetary Fund (IMF) surveyed various relevant agencies, including central banks, in 189 countries on a range of fintech topics.

It received 95 responses and the resultant paper offers some useful insights.

  1. Cybersecurity within fintechs is top-of-mind for most countries
  2. Asia is a leader in fintech adoption, particularly in China and India
  3. Astoundingly, sub-Saharan Africa is a global leader in mobile money, with 10% of GDP routed through mobile. (In comparison, Asia is 7% and other regions a mere 2%)
  4. Fintech adoption across Europe is uneven, regardless that the EU has issued various policy frameworks. For example, the UK is much ahead of the rest of Europe in terms of innovation and investment.
  5. About a fifth of respondents said central banks were considering issuing their own cryptocurrencies, in light of cost benefits, ease of policy implementation, and competition from other digital currencies. However, work is in early stages.

Conclusion: “While there are important regional and national differences, countries are broadly embracing the opportunities of fintech to boost economic growth and inclusion, while balancing risks to stability and integrity,” the bank said.

Name of source/publisher IMFBlog (

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Venture Capital: Bessemer Venture Raises $3.3B For Two New Funds, Welcomes New Partners
February 26, 2021     News, Venture Capital

Global early-stage venture capital firm Bessemer Venture Partners announced Thursday its raise of $3.3 billion across two new funds. BVP XI, which collected $2.475 billion, will focus on early-stage companies…
Alternative Investments/Real Estate: New Active, REIT-Based ETF From SS&C ALPS
February 26, 2021     Alternative Investments, News, Real Estate

SS&C ALPS Advisors have launched an actively managed, semi-transparent ETF that focuses on the U.S. REIT securities market. The ALPS Active REIT ETF (REIT) will trade on the NASDAQ.
FinTech: U.K.-Based Atom Bank To Raise £40M To Become Profitable, Go Public
February 26, 2021     FinTech, News

Atom Bank, which is based in Durham, U.K., plans to raise £40 million from its existing shareholders in a move to achieve profitability within a year. The digital bank also…
Digital Assets: Anchorage, The First Federally Chartered Digital Bank, Raises $80M
February 26, 2021     Digital Assets, News, Venture Capital

Federally chartered digital bank Anchorage announced Thursday its Series C raise of $80 million led by GIC, Singapore’s sovereign wealth fund, with participation from a16z, Blockchain Capital, Lux, and Indico.