# FA Global Product update — How large is the B2B cross-border payments market? 2030’s $56tn
Our data shows that in 2023, the B2B cross-border payments market is expected to total $39.3tn. By contrast, the consumer cross-border payments market is set to total $1.8tn, highlighting how much bigger an opportunity the B2B space is for the industry. The wholesale cross-border payments market, meanwhile, is expected to total $146tn in 2023.
However, when looking at 2030, there will likely be notable differences in growth. Consumer is expected to see the fastest rate of growth, increasing 80% to $3.3tn, while wholesale is set to climb 54% to $341.8tn. Meanwhile, B2B cross-border payments are expected to increase by 43% to reach a market size of $56.1tn in 2030.
B2B’s growth, however, is set to be driven by certain segments of the market. While cross-border goods trade sees some of the lowest rates of growth, at 12% for large enterprises and 4% for small and medium-sized businesses, services is expected to see much stronger growth — 23% for large enterprises and 26% for SMBs.
However, the biggest driver of growth is expected to be B2B e-commerce, which is set to overtake large enterprises to become the largest segment of B2B cross-border payments by 2030, climbing 120% to reach a market size of $22tn. This reflects the marked digitisation that the business landscape is still undertaking, which is set to continue throughout the rest of the decade.
#FA Global updates.
We have been on pause with our communications in the last many months on this channel this has been due to the team being so busy working on new projects which will be announced soon, importantly the CEO has approved some updates for your attention to view below including recent news on the latest there will be a further update in 2024.
FA team for 2023 attended over 20 technology and blockchain events in the UK Europe and the USA.
Several MOUs have been signed and partnerships have continued, our business outlook has remained positive for our payments business.
Blockshield.finance — the EU business unit has developed during 2020 an online/offline ramp for global crypto assets purchase that will be officially announced the embedded application Is active to approved web3 merchants, currently we are reviewing which member sites will have access to this product. 2023 Additionally the service will provide validated corporate and consumer EU IBAN accounts to swap for their crypto assets we are in partnership with a VASP authorised firm.
Approved during the 2023 summer BTC SPOT ETF was listed.
FA Global collaborated for the regulatory hosting compliance managed services for the BTC ETF fund 2022, this fund was approved, only for institutions. FA Global has taken a % equity of the newly created compliance firm signed in January 2021, the process was approved in 2022 the entity will be based in Portugal, and we will provide further links soon. click below for a quick read.
Forex County, HQ UK IOS/Android application, is close to launch. Live data and BETA users are currently completing the test for user experience.
The APP will provide local fiat money transfer settlements GBP/USD/KRW for 20% of consumers and 80% of businesses. Over 100 counties can be deployed towards our roadmap, we aim to synchronize an external process for an audit and complete a further upgrade for Authorisation from the UK regulator.
Cents pay agent, in parallel, will also be launched in partnership with a “Bank” sandbox to be announced very soon. we have further agents that have signed and will announce officially.
FA Global Google Ads Marketing account May 2023 is authorized by Google 2023 to run compliant financial services Google advertisements. We have made an external ex-Google hire that will manage this account across for UK/Europe.
2022/23 Financial year, our business turnover remains as 2021/22, revenue for 2023 was migrated to payment partners, and we limited revenue transactions to forexcounty due to the new system upgrade as we aim for growth. The new system will be named soon.
FA Global remains self-funded and has avoided VC funding to date our profits are re-invested back into our plans and our technology, and we look forward to further growth in 2025.
M&A. We are looking to expand, adding further authorizations to support the key product roadmap and banking relationships. We have a list of targeted firms for the right mid-sized companies to acquire and are in current discussions.
FA Global ELN Investment made in 2022 will be announced very soon. the company is waiting for shares to be issued.
As Predicted
All native countries and regions are very active in their plans to launch their local CBDC and introduce layer ledger technology naturally to government-accessed public services and complement and drive the blockchain ecosystem framework further.
Our business is determined by guidelines.
The government of South Korea is said to be working to create detailed rules to ensure that investors in the sector are protected from financial risk and that the crypto assets are not misused for illicit purposes. These new guidelines around the classification of crypto tokens have been announced to prepare South Korea’s financial sector for the forthcoming crypto regulations.
The UK government introduced a new crypto regulatory framework via a consultation paper published by the Treasury with stricter rules for investing and trading.
Top of the agenda for the government is to introduce a regime to regulate crypto more broadly. The paper takes a stab at designing a regime that covers crypto service providers, lending platforms, prudential requirements, consumer protection, crypto issuances and disclosures, preventing market abuse, and more.
Following a turbulent year in crypto markets in 2022, Economic Secretary to the Treasury Andrew Griffith hopes to achieve “clear, effective, timely regulation and proactive engagement with industry.” The crypto industry was generally receptive to the proposals and has until the end of April to submit responses.
What’s in store?
Crypto exchanges in the UK will need to beef up their compliance departments, as operating a crypto exchange will become an activity regulated by the Financial Conduct Authority beyond its current anti-money laundering provisions.
Prospective exchanges will need to supply details of their operations, risk management processes, and financial resources, among other requirements. They will be responsible for designing control systems to detect and disrupt market abuse. Crypto lenders will also need FCA authorization, and the proposed rules spell out the operational remit for crypto custodians too.
Tokens traded on a UK crypto exchange will be subject to traditional finance market abuse rules. This covers offences like insider dealing, market manipulation, and unlawful disclosure of inside information. Plus, those offering crypto trading services will need to follow the European Union’s financial market trading rules. This includes obtaining the best result when executing client orders.
Stablecoins, which are addressed in the Financial Services and Markets Bill working its way through Parliament, are not the main priority for the new regime. However, the Treasury considers that “activities relating to so-called algorithmic stablecoins should be subject to the same requirements as for unbacked crypto assets.”
Banks holding crypto will need to follow strict laws to ensure capital requirements, lawmakers decided in a European Parliament committee vote on Tuesday.
An amendment slipped in before the vote proposed that banks should apply a risk-weighting of 1,250% to crypto-assets exposures, Reuters reported on Monday, to a bill covering financial capital requirements for traditional institutions. This means that, when the rules would come into effect, banks will need to be able to cover a complete with capital reserves and not be able to gain leverage. The proposed percentage is the highest level of securitization proposed by Basel III reforms set by the Basel Committee on Banking Supervision, which sets international banking standards.
The bill further outlines that the European Commission should “review whether a dedicated prudential treatment for crypto assets would be needed and to adopt, if appropriate, a legislative proposal to this end,” according to the draft report.
We hope you have had an excellent festive season and we shall catch up soon on our next update.
Thanks, OP Team.
About us
FA Global BK Finance Ltd is a Fintech company FCA authorised, founded in 2011 as a consultancy on one core simple belief: improving borderless technology by giving access to ID & financial inclusion. Our foundation consistently has grown from legacy 2.0 and merged 3.0 applications products and compliance, VASP services.
