Portugal's Progressive Policies Propel Fintech Growth. đ”đč
Portugal's fintech sector is flourishing, with a population of around 10 million. The recently launched Portugal Fintech Report highlights the country's unique governmental approach, particularly in cryptocurrency and freelancer regulations.
Factors Driving Fintech Growth:
Regulatory Flexibility: Portugal's regulatory approach allows for flexibility, fostering a robust fintech landscape.
Tax Incentives: The country offers attractive tax incentives, making it an enticing hub for digital asset and freelancer-centric fintech startups.
Lifestyle Benefits: Portugal combines regulatory support with high-quality living conditions, attracting global talent.
Highlighted Fintechs in Portugal:
ivendPay: Provides comprehensive cryptocurrency solutions for everyday transactions, offering innovative technology and instant cryptocurrency-to-fiat exchange.
Wallid: Offers ID solutions spanning Web2 and Web3, simplifying online purchases and ensuring control over individual ID data.
Coinscrap Finance: A B2B fintech using transactional data and behavioral economics to help banks and insurers understand clients' financial situations.
Uphold: A Web3 financial platform with "Anything to Anything" interface, serving over 10 million customers globally.
Jupiter app: Streamlines tax management for freelancers and digital nomads, empowering individuals and positioning Portugal as a leader in supporting the future of work.
Portugal as the European Crypto Hub:
Lisbon excels as Europe's crypto hub due to favorable regulations and a dynamic tech community. Portugal's Digital Transitional Action Plan prioritizes innovation through designated "Free Zones" for testing new technologies.
Global Talent Pool and Collaboration:
Portugal, Europe's crypto hub, fosters entrepreneur collaboration through strategic projects. Proximity to Spain fuels fintech expansion. Initiatives like the Non-Habitual Resident scheme attract freelancers with tax benefits, set to change in 2024.
