Monzo’s crypto ambitions & challenger banks’ strategy triangle 📐; Open Banking is the Next BIG Thing in FinTech since Plastic 💳; Bear market is perfect for Nubank to scale in Latin America 🐻🚀

Good Morning FinTech, 23 June

Good day Everyone,

And happy Thursday! The week is approaching an end but it’s only getting hotter here in all things FinTech. Today we’re looking at Monzo’s crypto ambitions & challenger banks’ strategy triangle (there’s a clear winner), Open Banking and why it’s the Next BIG Thing in FinTech since Plastic (if you don’t have an OB strategy, read this ASAP!), and why the bear market is perfect for Nubank to scale in Latin America (yet another bullish sign for all things $NU). Let’s jump straight into the exciting stuff:

Monzo’s crypto ambitions & challenger banks’ strategy triangle 📐

The news 🗞 British neobank Monzo confirmed that the recent madness eradicating the digital asset markets will not stop its crypto investment plans. The neobank’s co-founder and CTO Jonas Templestein said at a Financial Times Live event that “an easily tradable digital store of value has been instrumental for many people.”

That’s obvious, but what’s in it for Monzo? 🤔 While some are getting really cold during the crypto winter, others might discover interesting opportunities. And UK-HQed challenger bank with over 5 million users might be one of them.

Zoom out 👀 Despite crypto job layoffs, plummeting digital asset prices and all the frenzy in crypto markets, Monzo’s assertion shows it believes in digital assets’ long-term value and still sees their growth potential.

Here’s how Monzo can win in the current market as well as a brief look at challenger banks’ strategy triangle: