Former UK Chancellor George Osborne, now an advisor to Coinbase, recently said for the Financial Times that the UK has already missed its first chance at crypto leadership; and now risks missing the second wave centred on stablecoins.

The Alarm Bell

Here’s what he actually said:

• “Far from being an early adopter, we have allowed ourselves to be left behind.” Osborne argued that Westminster let the crypto boom slip by while the US became an unexpected first mover.
  
  
• He warned, “we’re about to miss the second wave … stablecoins,” noting that regulators elsewhere (US, EU, Singapore, Hong Kong, Abu Dhabi) are already rolling out frameworks while the UK still deliberates.
  
  
• Osborne highlighted that around 99 percent of all stablecoins are pegged to the dollar—and under current UK rules, sterling-backed tokens don’t stand a chance.
  
  
• He didn’t mince words: “On crypto and stablecoins… we’re being completely left behind. It’s time to catch up.”

He also contrasted the UK’s restrictions—no Bitcoin ETFs, limited retail access, fiat transfer blocks from some banks—with the much more open environments in other jurisdictions. Regulation is now a competitive tool, and the UK is failing to use it.

Why This Matters to Fintech Founders

Strategic Blindspot

If the UK cedes stablecoin infrastructure to other regions, British fintechs will lose relevance and reach. Innovation will increasingly happen elsewhere—taking talent, capital, and customers with it.

Regulation Enables Innovation

The US recently passed the GENIUS Act, offering regulatory clarity around stablecoins. Meanwhile, Singapore, Abu Dhabi, and the EU already have frameworks in place. Where rules are clear, products launch faster.

Financial Influence Undermined

Without a strong framework for sterling-backed tokens, the UK’s financial system will lack credible digital alternatives. US dollar stablecoins already dominate. Unless something changes, the UK won’t just be a step behind—it’ll be structurally locked out.

Policy Inertia vs Startup Agility

The Bank of England continues to warn about risks to the “singleness of money,” and the FCA remains cautious. That caution is now becoming a drag. Founders who wait might wait too long.

What Fintech Founders Should Learn and Do

1. Engage Now

Don’t wait for regulation to be handed down. Get involved. Join forums, trade associations, or direct consultations. Founders who show up early shape the rules others have to follow.

2. Build for Flexibility

Launch your product in regions that already have working stablecoin rules, and design your stack so it can adapt later when UK regulation catches up.

3. Prep Retail Channels

Retail access is still restricted in the UK—but that won’t last forever. Build onboarding flows, education tools, and sterling-backed infrastructure now so you’re ready when the gate opens.

Key Takeaways for Fintech Startups

• The UK is falling behind—not due to failure, but due to inaction.
  
  
• Other jurisdictions have already moved. The window for leadership is closing.
  
  
• Founders can influence policy by engaging, not waiting.
  
  
• Products need to be agile, compliant across borders, and future-proofed for the UK’s eventual catch-up.
  
  

Your Fintech Story can help you develop cross-border product strategies, regulatory engagement plans, and investor-ready narratives. Let’s talk.

Another fintech darling just smashed triple-digit growth, but what’s actually under the hood?

Airwallex UK reported a 109% YoY revenue increase for the first half of 2025. That’s not just impressive; it outpaced more mature markets like Australia and Singapore, where the company originally made its mark. In other words: the satellite just outgrew the mothership.

Yes, there’s a new office. Yes, there’s a Lando Norris sculpture. But forget the headlines for a moment, there’s a deeper lesson here for fintech startups trying to scale in a world that’s becoming pickier about traction, margin, and value.

Let’s break it down.

The Growth Formula: Speed, Value, and Focus

Airwallex UK’s growth isn’t just about signing more clients. It’s about signing the right clients — high-growth SMBs in global-facing verticals like travel, SaaS, and e-commerce. These businesses need multi-currency solutions, seamless cross-border infrastructure, and instant deployment.

Airwallex is giving them all of that — in one platform — and doing it faster than their banking incumbents.

But here’s the nuance: it’s not just the volume of deals. It’s the value of each deal, and the speed at which products are going live.

This tells us that:

• Their onboarding process is efficient.
• Their GTM strategy is resonating.
• Their product is mature enough to be deployed quickly and scaled by demanding customers.

That’s a combination many early-stage fintechs underestimate.

Headcount Follows Product-Market Fit

We’ve all seen the startups that scale headcount too early, mistaking internal growth for market pull. Airwallex UK is scaling team size in reaction to demand — not ahead of it. A 35% YoY increase brought their London team to over 100 people.

And the office move? It’s not just symbolic. Their Fitzrovia space will be double the size of the previous one, clearly planned around future hiring and product launches. This is what scaling looks like after validating your product.

It’s also a flex. London is still the fintech capital of Europe. Putting down roots in Fitzrovia signals seriousness — not just from a hiring perspective, but also from a regulatory and commercial standpoint.

Product Expansion: Only When the Core Works

New products like Yield are coming — but not because Airwallex wants to “diversify.” They’re doing it because they have a captive user base with proven needs.

Startups often fall into the trap of building new features to chase growth. Airwallex is doing the opposite: capturing growth with core products, then layering on more value after PMF is secure.

The product roadmap becomes a multiplier, not a lifeline.

Partnerships Are More Than PR

Airwallex isn’t just sponsoring McLaren Racing and Arsenal Football Club because it’s fun (though, let’s be honest — it is). These partnerships are a smart signal: they’re positioning themselves as a premium global brand, aligned with high-performance and ambition.

In a B2B fintech world often obsessed with spreadsheets and APIs, it’s a reminder that perception matters — and that a well-timed partnership can reinforce trust at enterprise scale.

Key takeaways for fintech startups

Here’s what founders can learn from Airwallex UK’s recent growth run:

• Find customers with urgent, complex needs. Airwallex focused on fast-growing SMBs operating globall, where legacy systems break down.
  
  
• Make onboarding smooth and fast. High-value deals don’t mean slow sales cycles if your platform is sharp and your messaging is clear.
  
  
• Only scale headcount after product-market fit. Hiring is a multiplier, not the strategy.
  
  
• Add products only after your core works. Don’t build a suite if your flagship tool isn’t winning.
  
  
• Brand perception matters, especially in B2B. Partnerships like McLaren and Arsenal elevate credibility and stand out in a crowded space.
  
  
• Invest in your local presence. Their new Fitzrovia office isn’t just a space upgrade; it’s a statement of long-term commitment to the UK market.
  
  

Looking to unlock this kind of growth?

Your Fintech Story helps early-stage fintechs build focused strategy, validate products, and scale with confidence. Let’s talk.