Farmington, April 6, 2023 (GLOBE NEWSWIRE) — The global Fintech blockchain market its size was valued at $2.012 billion. It is expected to grow by 75.80% from 2022 to 2030, reaching nearly USD 183.56 billion by 2030. The fintech ecosystem consists of many different players who all want to improve the financial industry by coming up with new ideas and making it more competitive. This helps customers and the economy as a whole. The fintech ecosystem consists of five different parts. These are fintech start-ups, technology developers, authorities, financial stakeholders and traditional financial institutions. Over the last ten years there have been many technological revolutions, including those in social media, AI, big data and cloud computing, virtual reality and not least blockchain. Based on how it is used and how new it is, fintech can be divided into several categories. These include payments and banking, investment and capital markets, lending, crowdfunding, insurance services and loyalty programs. Simply put, the Bitcoin White Paper describes blockchain or distributed ledger technology as an open, trusted, shared ledger that is distributed to all members of the community through a peer-to-peer network. Members of this community may or may not know each other. However, each member keeps their own copy of the information, and all members must confirm each change to the blockchain as a group.
Request sample copy of report “Fintech blockchain Market Size, Share and Trend Estimation Report by Application (Smart Contracts, Exchange and Remittance, Clearing and Settlement, Identity Management, Compliance Management/KYC, Others), By End User (Small and Medium Enterprises (SMEs), Large Enterprises, By Industry, Banking, financial non-banking), by region and segment forecasts, 2023–2030”, published by Contrive Datum Insights.
Strategic development:
- In April 2019 – Auxesis Services & Technologies (P) Ltd. launches platform for issuing blockchain certificates. The platform was launched on the Auxledger Network. This is an initiative of the Government of India where NITI Aayog signed a SOI agreement with Auxesis Services & Technologies (P) Ltd. The platform is based on a completely trustless approach with smart contract functionality.
Regional Outlook:
Most of the growth in the FinTech blockchain market is likely to occur in North America. According to Blockchain-International Financial Corporation’s 2019 report, the United States held up to 54% of the global blockchain market share. Also the UNCTAD Digital Economy Report 2019 states that in the future 75% of blockchain patent applications will come from the US and China. So most of the market for FinTech blockchain technology is probably in North America.
In the fintech blockchain market, most people believe that Europe will be in the lead. The UK is also a center for fintech around the world because there are more than 1,600 fintech companies there and this number is expected to grow by 2030. Moreover, a 2019 report by the UK Department for International Trade states that London is a global center for financial innovation because most investors are putting more money into UK fintech.
In this market, the Asia Pacific market is likely to grow. China, India etc. are the main things driving the market in this area. Shenzhen Hande Financial Technology Holdings Co. Ltd., a Chinese fintech company, will put $1 billion into blockchain technology to help the market grow. The India Fintech Report 2019 says that over the past few years, more than 4,000 fintech startups have been created in India as the government has put more attention on financial innovation.
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Scope of the report:
| Report Attributes | Details |
| Growth rate | CAGR of 75.80% from 2023 to 2030. |
| Revenue forecast by 2030 | USD 183.56 billion |
| By type | Smart contracts, exchange and remittance, clearing and settlement, identity management, compliance management/KYC, other |
| At end use | Small and medium-sized enterprises (SMEs), large enterprises, by industry, banking, financial non-banking, other |
| Of companies | AWS, IBM, Microsoft, Ripple, Chain, Earthport, Bitfury, BTL, Oracle, Digital Asset, Circle, Factom, Alphapoint, Coinbase, Abra, Auxesis, Bitpay, Blockcypher, Applied Blockchain, Recordskeeper, Symboint, Guardtime, Cambridge Blockchain, Tradle |
| Regions and countries covered |
|
| Foundation year | 2022 |
| Historic year | 2017 to 2022 |
| Forecast year | 2023 to 2030 |
Market dynamics:
Growing use of blockchain technology: As more people learn about blockchain technology and figure out how it works, more financial institutions are likely to use it to cut costs, make the system more efficient and make it safer. This could lead to more money being put into fintech blockchain solutions, which would boost the market.
Rise of Decentralized Finance (DeFi): DeFi is a type of financial service that works on a blockchain network without any intermediaries. It has become popular because it is not centralized and does not need the usual financial institutions to function. If DeFi continues to grow, it will likely help the fintech blockchain market to grow as well.
Increasing use of cryptocurrencies: More and more people are using Bitcoin, Ethereum and other cryptocurrencies. These digital assets work on blockchain networks and are becoming a legal way of payment more and more often. The growing adoption of cryptocurrencies is likely to drive the growth of the fintech blockchain market.
Increased focus on cyber security: As the number of cyber attacks increases, the financial sector is paying more attention to security. Blockchain technology is known for its high level of security, and it is expected to be used to protect financial institutions and their customers from cyber threats.
Government Regulations: Governments are beginning to set rules for blockchain technology and cryptocurrencies around the world. This should bring more clarity and stability to the market, which could make more people want to invest in fintech blockchain solutions.
Key segments covered:
Top players on the market:
AWS, IBM, Microsoft, Ripple, Chain, Earthport, Bitfury, BTL, Oracle, Digital Asset, Circle, Factom, Alphapoint, Coinbase, Abra, Auxesis, Bitpay, Blockcypher, Applied Blockchain, Recordskeeper, Symboint, Guardtime, Cambridge Blockchain, Tradle , and others.
By type:
- Smart contracts
- Exchange and remittance
- Clearing and Settlement
- Identity management
- Compliance Management/KYC
- Others
For end use:
- Small and medium-sized enterprises (SMBs)
- Large companies
- By industry
- Banking operations
- Financial non-banking activities
- Others
Regions and countries covered
- North America: (USA, Canada, Mexico, rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic countries, Benelux Union, Rest of Europe)
- Asia Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- Middle East and Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of Middle East and Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- The rest of the world
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