Home Blockchain Blockchain in FinTech Market Size to Reach USD 31.4 Billion

Blockchain in FinTech Market Size to Reach USD 31.4 Billion

Blockchain in FinTech Market Size to Reach USD 31.4 Billion

New York, United States, Aug. 08, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Blockchain in the FinTech market Analysis by Service Provider, Interaction Channel (Bank Branch, Mobile App), Size of Organization, Application (Payment, Smart Contract) – Prediction Assessment to 2030 is on the verge of reaching USD 31.4 billion by 2030, registering a CAGR of 47.9% throughout the forecast period (2021 to 2030).

Blockchain in FinTech Market Overview

Blockchain technology has generated considerable interest in the fintech industry. The emergence of blockchain has encouraged the financial industry to move towards app-based operations. The growing adoption of blockchain has driven the growth of the fintech industry even during the pandemic. Whether it is transaction security, transparency or fraudulent activity needs, blockchain technologies can solve them all.

Blockchain in Fintech Market Report Scope:

Report metric Details
Market size by 2030 $31.4 billion
Rate of growth CAGR of 47.9%
base year 2020
Forecast period 2021 to 2030

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In the current scenario, where inflation and interest rates are continuously rising, working capital has become more important than ever. As companies seek more cash, they increasingly aim to develop technology that can achieve greater savings in the critical cash cycle. Additionally, opportunities can be unlocked to automate supply chain finance through imports and exports.

Most commercial payments are still made manually through a pre-internet process. Automating AR, AP, Expenses, Purchasing, and Payments using Web3 technologies provides huge cash benefits to businesses and the B2B payments market. Many companies have already adopted software or digital AR/AP solutions. Businesses in LATAM that are specifically digitally enabled mean B2B payments opportunities in emerging markets.

Blockchain in FinTech Market Segments

The report segments the market dynamics into service providers, interaction channels, organization size, applications, and regions. Among these, the service provider segment includes applications and solutions, middleware and services, and infrastructure and core protocols. The Interaction Channels segment includes bank branches, mobile applications, websites, call centers and others.

The organization size segment includes large enterprises and SMEs. Application segment includes banking, payment, smart contracts, trade and supply chain finance, capital market, risk management and compliance, insurance, identity management digital, etc. The regional segment includes Europe, North America, Asia Pacific and Rest of the World.

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Blockchain in FinTech Market Regional Analysis

North America is leading the global blockchain fintech market, witnessing the growing adoption of advanced technologies. Additionally, the growth of the fintech industry and the growing demand for secure payment processes from online applications are increasing the market shares in the region. The proliferation of payment security solutions justifies the market value.

Europe is the second largest global blockchain region in the fintech market. As the fintech industry in this region continuously monitors new developments in security technologies, the uses of blockchain in the fintech market are increasing. Other factors supporting the growth of the market include growing internet connectivity and growing needs for payment security.

Blockchain in the fintech market in the Asia-Pacific region is also gaining momentum. Growing investments in the development of blockchain solutions to change business processes in the financial sector and growing number of mobile applications, websites and call centers are driving the region’s market shares. Moreover, the growing preference for mobile payments and the increase in fraudulent cases of online payments are influencing the market value of the region.

Industry trends

The continued expansion of open banking and the widespread adoption of international payment platforms are key driving forces. The progressive regulatory environment and innovations in fintech companies across the globe are driving the growth of the market. Rapidly changing and changing global consumer and merchant trends are driving the adoption of digital payment methods and remittances.

Government-backed UPI/QR-based payments took it further, allowing users to accept digital payments without any technical complexity. The increase in research and development activities on the blockchain allows the expansion of fintech. Banks are rapidly promoting their blockchain operations, which is creating significant market opportunities.

Big banks are partnering with fintech to provide valuable advice and technology that can modernize and adopt emerging tools like blockchain. Additionally, the growing demand for secure payment and security approaches and the increase in cases of online fraud are driving the adoption of open banking. The growing focus on digitization and efficiency of B2B payments is increasing market value.

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Blockchain in FinTech Market Competitive Analysis

Blockchain in fintech market looks very competitive with many players forming a competitive landscape. Product development and close collaboration with end users is an attractive strategy being pursued. Industry players are also forming collaborations and partnerships with other players to expand their footprint and expertise and reduce development time and cost.

For example, on August 5, 2022, Paystand, a B2B payment platform, announced the acquisition of Yaydoo, an accounts payable, cash management and liquidity solution provider to create a blockchain-enabled B2B payments network. . Paystand wants to make blockchain-based business solutions more accessible across the Americas.

Both companies offer a wide variety of technology-based B2B solutions to automate transactions, payment and bill collection processes and have created efficient B2B DeFi payment networks applicable to businesses across the continent. They aim to connect their platforms through a single, open and secure global payment network.

In another case, on February 16, 2022, Stronghold, a payment and financial infrastructure company, launched a venture capital arm – Stronghold Capital to deploy a US$100 million fund to expand into startups in startup in Web3, blockchain and fintech ecosystems. . The fund would be used to target investments in founders of underrepresented groups.

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The Top Key Blockchain Players in the FinTech Market Covered Are:

  • Earthport automaton. (UK)
  • Ripple (US)
  • BTL Group (Canada)
  • Oracle Corporation (USA)
  • Bitfury Group Limited (USA)
  • Digital Assets (US)
  • Circle Internet Financial Limited (Ireland)
  • Factom (USA)
  • Alpha Point (USA)
  • Coinbase (US)
  • Plutus Financial Inc. (USA)
  • Auxesis Group (India)
  • BitPay (US)
  • BlockCypher Inc. (USA)
  • Applied Blockchain Ltd. (UK)
  • RecordsKeeper (Spain)
  • Symbiont.io (US)
  • Guardtime (Estonia)
  • Cambridge Blockchain LLC. (WE)
  • Commerce (United States)
  • Blockchain Advisory Mauritius Foundation (Mauritius)

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