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It May Be Small, but the Netherlands Is Proving It’s a Strong Contender in FinTech

Last Updated March 4, 2021 4:50 PM
Rebecca Campbell
Last Updated March 4, 2021 4:50 PM

This small, but mighty country is demonstrating that good things come in small packages, illustrating its potential as one of the top FinTech countries in the world.

The Netherlands has a population of around 17 million people; Germany has a population of nearly 81 million; France has a population of over 66 million people; and the U.K. has a population of 64 million.

However, while the latter European countries may spring to mind when you think about the ideal locations for startups, the Netherlands is a country that isn’t afraid to keep up with the big players when its needs to.

According to Startup Juncture , Netherland-based startups raised around €430 million in 2015, across 153 deals, up from 76 from the previous year. Not only that, but Forbes  reports that the Netherlands was ranked as number one for introducing policies aimed at improving the growth of startups in the country, according to the 2016 Startup Nations Monitor.

The Netherlands Embraces Blockchain

In its bid to become the next major FinTech hub of the world, the Netherlands invested in a blockchain development campus earlier this year scheduled for opening in September.

Its aim is to attract banks, financial, and FinTech companies under one roof to work towards the development of blockchain solutions.

The Netherlands Is a Bitcoin Destination

Not only that, but the Netherlands has been working hard at embracing the digital currency bitcoin to be known as a bitcoin-friendly country.

In 2014, Arnhem, one of the largest cities in the Netherlands, became the first place to have a supermarket that accepts bitcoin.

Not only that but the Dutch have their very own digital currency, the Guldencoin, which was launched in 2014. Named after the guilder Dutch currency that the euro replaced, it has gained a significant level of acceptance among Dutch businesses.

It’s clear to see that while the Netherlands may be significantly smaller than other countries that certainly hasn’t stopped it from embracing bitcoin and the blockchain technology.

As fears circulate London and its status as the FinTech centre following Brexit, the Netherlands certainly has a shot at claiming the top spot.

Featured image from Shutterstock.