Banks are having to pedal twice as hard just to keep momentum, but innovative players are developing new tailored solutions and products to meet the needs of clients.
Less than two months after its founding by The Bitfury Group, the Global Blockchain Business Council, the first global body set up to educate businesses on the latest innovations in blockchain technology, is establishing a chapter in Washington.
One quarter of the country's banks lost their licences last year, in a lottery that depends on having the right political connections.
Competition is already fierce among Iranian-owned hard discounters.
Sector consolidates in 'M&A frenzy' sparked by regulatory changes.
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