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The fact that Mondo does not yet currently have a banking license in the UK is a big risk. If you're thinking of investing consider the value of that investment
by spuz 11y ago
The fact that Mondo does not yet currently have a banking license in the UK is a big risk. If you're thinking of investing consider the value of that investment should the licence application fail.
- contingencies 11y agoIt is unlikely to fail irrevocably because, as some of the background articles explain, there is evidence that UK regulators are actively trying to foster competition at the moment, "the Prudential Regulation Authority’s fast-track licensing regime"[0], partly in response to past abuse of trust by the incumbents. I was impressed with UK response to recent crises, issuing reports detailing very concrete measures to resolve institutional problems. As so much of the UK economy relies upon finance, they do have a bit of a reputation to uphold and cannot simply say one thing and do another indefinitely. At some point they have to give... it's a license, not exactly Elgin's marbles. [0] http://www.independent.co.uk/news/business/news/first-direct-boss-and-metro-bank-founder-to-launch-digital-bank-atom-9248711.html http://www.independent.co.uk/news/business/news/first-direct...
- deleted 11y ago[deleted]
- chillydawg 11y agoThe value will drop to almost zero, which is all part of the fun. The opposite scenario will see a large increase in value. The game, as ever, is assessing the probability of these events and judging the value (or lack thereof) of the bet.