Tokyo – After a slow adoption of business technology Financial, the fintechs, the Japan should reduce restrictions on investment that can free up the flow of capital in an economy that is sitting on about $ 9 trillion in deposits.
the strict regulation, easy access to credit due to very low interest rates and weak demand for financial services from a population risk averse still prefer cash to cards strangled the advancement of fintechs in Japan.
fintechs -in general startups that develop technologies from data storage in the cloud to smartphones to provide loans, insurance and payment services – raised $ 2.7 billion in China last year and more than $ 1.5 billion in India, according to CB Insights.
The joint US attracted investments of about 7.4 billion dollars.
In comparison, investment in Japanese ventures reached only 44 million dollars in the first nine months of . 2015
Now the regulator of the financial sector in Japan expects more flexible rules for investment and a new system for virtual currency exchange legislation is presented to parliament in May – the first step for the kickoff in FinTech revolution in the third largest economy in the world
Topics:. government , government Investment Asia , Japan , rich countries , Technology
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