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In a survey of 3,000 banking customers around the world, Kantar found that 93% of consumers in China have used neobank services, 50% of Indians, and 32% of Brazilians. However, across Western Europe only a small minority of consumers has opened a neobank account, with the Netherlands and Germany leading with 4% usage, and only 2% of U.S. consumers.ds and Germany lead with 4% usage; France and Spain are lagging with 2% usage In the USA, only 2% of consumers have utilised the services of a neobank"

Nearly two-thirds of the 511 Singaporean respondents polled would adopt a digital-only bank. However, 84% said they were keen to use digital banking services provided by an existing bank. Even so, 20% said they would move all their services to a neobank without hesitation.

In a chapter in the April 2022 Global Financial Stability Report and an accompanying blog post, International Monetary Fund staff argue that, while Fintech can increase efficiency and competition and broaden access to financial services, the fast growth of fintech firms into risky business segments-and their inadequate regulation and interconnectedness with the traditional financial system-can have financial stability implications. The chapter explores three key types of fintech to illustrate these risks: digital banks ("neobanks"), long-established fintech firms in the US mortgage market, and decentralized finance ("DeFi"). The chapter argues that policies targeting fintech and traditional financial firms proportionally are needed. In the case of DeFi, regulations should focus on the elements of the crypto ecosystem that enable it, such as stablecoin issuers and centralized exchanges.

The U.S. Office of the Comptroller of the Currency (OCC) has granted Paxos provisional approval for a federal bank charter that will allow it to conduct business across state lines. This is the third such charter granted to a crypto company, after custody firm Anchorage in January, and trading and lending firm Protego in February. https://www.occ.treas.gov/news-issuances/news-releases/2021/nr-occ-2021-49.html