Market Highlights

As per Market Research Future (MRFR), the global blockchain in financial technology (fintech) market is assessed to arrive at USD 6700.63 million at a CAGR of 75.2% from 2017 to 2023 (gauge period). The report sums up the market potential open doors and market implications that emerged because of the COVID-19 pandemic.

Blockchain is a technology that utilizes a common record to record exchanges across a decentralized PC organization. Blockchain in fintech screens and controls data on advanced exchanges in fintech and forestalls duplication. The consolidation of this technology offers ongoing installments against resources with changeless state and computerized character, bringing about significant expense reserve funds as far as compromise and settlement for an assortment of financial organizations and banks. Driving financial establishments and banks, including J.P. Morgan, Citibank, Goldman Sachs, and Barclays, have gone to lengths to execute this technology.

Market Dynamics

Huge variables driving blockchain in fintech market are solid similarity with the money business' environment, faster exchanges, and diminished generally speaking proprietorship costs. North America is projected to overwhelm the market because of an in fact progressed district and the contribution of central members. Critical elements driving this request are the developing digital currency market, initial coin offering (ICO), and decreased exchange costs. In any case, questionable administrative guidelines and systems and absence of blockchain applications and use cases are relied upon to confine the market development over the projected period. Future business learning experiences incorporate the developing acknowledgment of blockchain applications, like installments, personality management, leeway and settlements, savvy contracts, and new programmable blockchain platforms.

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Segmentation:

The global blockchain in fintech market has been segmented into service provider, interaction channel, organization size, and application.

By service provider, the global market has been segmented into application and solutions, middleware & services, and infrastructure & base protocols.

By interaction channel, the market has been segmented into bank branches, mobile applications, websites, call centers, and others.

By organization size, the global market has been segmented into large enterprise and SME.

By application, the market has been segmented into banking, payment, smart contracts, trade & supply chain finance, insurance, capital market, risk management & compliance, digital identity management, and others.

Regional Analysis

The regional analysis of the blockchain in fintech market is studied for North America, Europe, Asia Pacific, and the rest of the world.

North America is expected to dominate the blockchain in fintech market due to the growing adoption of advanced technology and infrastructure in the region. The Asia Pacific is projected to be the fastest-growing area on this market, powered by a rise in overall investment in blockchain technology solutions to change the business processes in the finance industry.

Key Players

The prominent participants in the blockchain in fintech market are Ripple (US), Amazon Web Services, Inc. (US), IBM Corporation (US), Microsoft Corporation (US), Chain Inc (US), BTL Group (Canada), Earthport PLC. (UK), Bitfury Group Limited (US), Oracle Corporation (US), and Digital Asset Holdings (US).

Ripple is one of the leading players in this market that connects banks, payment providers, digital asset exchanges, and companies via its platform RippleNet to provide a seamless experience in sending money globally. RippleNet is developed with advanced blockchain technology that is scalable, stable, and interoperates across different networks.

Other players in the global blockchain in fintech market are Circle Internet Financial Limited (Ireland), Guardtime (Estonia), Factom (US), AlphaPoint (US), Coinbase (US), Plutus Financial, Inc. (US), Symbiont.io (US), Auxesis Group (India), BitPay (US), Tradle (US), BlockCypher, Inc. (US), Applied Blockchain Ltd. (UK), Cambridge Blockchain, LLC. (US), Blockchain Advisory Mauritius Foundation (Mauritius), and RecordesKeeper (Spain), among others.

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Blockchain in Fintech Market Research Report, Service Provider (Application & solutions, middleware & services, infrastructure), Interaction Channel (bank branch, mobile application), Organization Size (Large Enterprise, SME), Application (Payment, Smart Contract) — Forecast till 2027

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