Cambridge Centre for Alternative Finance Research Paper No. 66
Number of pages: 140
Posted: 29 Apr 2026
Last Revised: 16 Jun 2026
Kieran Garvey,
Bryan Zheng Zhang,
Innes Roberts,
Farah Abdou,
Hamidu Midlah Barrie,
Douglas W. Arner,
Benedicte Nolens,
Jon Frost,
Miguel Segoviano,
Drew Propson,
Felipe Ferri de Camargo Paes,
Krishnamurthy Suresh,
Alexander Apostolides,
Waleed Nadeem,
Lucas Elettore,
Marcos Vinicios Belmiro Proença,
Lukas Ryll,
Eric Duflos,
Haocong Ren,
Diego Herrera,
Ashis Mittal,
Keith Bear,
Yue Wu,
Stanley Mutinda,
Senanu Dekpo-Adza,
Shashank Shaurya Dubey,
Andres Lehtmets,
Patricia Marcella Evite,
Caroline Malcolm,
Hugo Coelho,
Nadia Hazeveld,
Richard Kithuka,
Nolwazi Hlophe,
Roman Rampa,
Jack Lee,
Nadeenut Suvanprakorn,
Vatsala Shreeti,
Kumar Rishabh,
Gian Boeddu,
Henrique Chitman,
Ana María Zárate Moreno,
Camila Quevedo Vega,
Arisha Salman,
Nouran Youssef,
Karim Mouaffak and
Bretchen Hoskins
University of Cambridge - Cambridge Centre for Alternative Finance, Cambridge Centre for Alternative Finance, Cambridge Judge Business School, University of Cambridge, University of Cambridge - Cambridge Centre for Alternative Finance, University of Cambridge, Judge Business School, Cambridge Centre for Alternative Finance, Students, University of Cambridge, Judge Business School, Cambridge Centre for Alternative Finance, Students, The University of Hong Kong, BIS Innovation Hub, Bank for International Settlements, London School of Economics & Political Science (LSE) - Financial Markets Group, World Economic Forum, University of Cambridge - Cambridge Centre for Alternative Finance, University of Cambridge, Judge Business School, Cambridge Centre for Alternative Finance, Students, European University Cyprus, University of Cambridge - Cambridge Centre for Alternative Finance, University of Cambridge, Judge Business School, Cambridge Centre for Alternative Finance, Students, Independent, University of Cambridge - Department of Engineering, World Bank - Consultative Group to Assist the Poor (CGAP), World Bank - Consultative Group to Assist the Poor (CGAP), Inter-American Development Bank, University of Cambridge, Judge Business School, Cambridge Centre for Alternative Finance, Students, University of Cambridge - Judge Business School, University of Cambridge - Cambridge Centre for Alternative Finance, University of Cambridge - Cambridge Centre for Alternative Finance, University of Agder, Indian Institute of Technology (IIT), Independent, - Department of Political Science, University of Cambridge, Judge Business School, Cambridge Centre for Alternative Finance, Students, University of Cambridge, Judge Business School, Cambridge Centre for Alternative Finance, Students, Independent, University of Cambridge, Judge Business School, Cambridge Centre for Alternative Finance, Students, Independent, Swiss Financial Market Supervisory Authority (FINMA), Bank for International Settlements (BIS), University of Cambridge - Cambridge Centre for Alternative Finance, Independent, Bank for International Settlements (BIS), World Bank Group, Inter-American Development Bank, Inter-American Development Bank, World Bank - Consultative Group to Assist the Poor (CGAP), Independent, Arab Monetary Fund, Independent and Independent
