国际货币基金组织：2026年金融服务领域中的大型科技公司：新兴监管考量报告（英文版）

Large technology conglomerates that primarily have business models in nonfinancial sectors (BigTech) are expanding into consumer-facing financial services. Although the range and scale of financial services provided by BigTech are currently modest, limiting their financial stability implications in most jurisdictions, they are growing rapidly in emerging market and developing economies. If current trends continue, BigTech could create financial stability risks across jurisdictions in four