According to a new market research report titled,FinTech Blockchain Market by Application (Payments, Clearing, & Settlement, Identity Management), Provider, Organization Size, and Business Domain (Payment, Insurance, Capital Market, Commercial Banking, Regulatory Compliance) -Global Forecast to 2028,” published by Meticulous Research®, the FinTech blockchain market is expected to grow at a CAGR of 59.9% from 2021 to 2028 to reach $36.04 billion by 2028 from $1.35 billion in 2021. The rapid growth of the FinTech blockchain market is mainly attributed to the rising need for low-cost cross-border payments, the proliferation of open trading for digital assets, requisite to reduce costs and the time required for cross-border payments, increasing demand to transform Know Your Customer (KYC) compliance operations, and consistently growing need for speed and transparency around international payments.

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FinTech blockchain is a financial technology application developed through blockchain technology. It provides software, solutions, and other FinTech blockchain services used across businesses that provide automated and improved financial services. The FinTech blockchain market facilitates various innovative applications, including trusted online payment solutions, simplification of remittance process, eliminate dark tactics of the stock market, records storage and management, supply chain financing and management, and KYC Verification, etc.

The overall FinTech blockchain market is segmented based on application (cross-border payments, clearing, and settlement, smart contract, identity management, exchanges and remittance, compliance management/know your customer (KYC), and others), provider (application and solution providers, middleware and service providers, infrastructure and base protocols providers), organization size (small & medium and large enterprises), business domain (payment, insurance, capital market, commercial banking, regulatory and compliance, trade & supply chain finance, and risk management), and geography. The study also evaluates industry competitors and analyses the market at a country level.

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Based on provider, the FinTech blockchain market is segmented into middleware and services providers, infrastructure and base protocols providers, and application and solutions providers. The middleware and services providers segment is expected to account for the largest share of the overall FinTech blockchain market in 2021. The large share of this segment is mainly attributed to the rising demand for account aggregation & financial wellness, the rising need for integrating banking channels with back-end applications, and the growing demand for liquidity management.

Based on application, the FinTech blockchain market is segmented into cross-border payments, clearing, and settlement, smart contract, exchanges and remittance, compliance management/Know Your Customer (KYC), identity management, and other applications. In 2021, the cross-border payments, clearing, and settlement segment is expected to account for the largest share of the overall FinTech blockchain market. The large share of this segment is mainly attributed to the need for reducing the role of intermediaries, growing demand for secure and reliable transactions, increasing focus on secure and effective payment processing platforms.

Based on business domain, the FinTech blockchain market is segmented into payments, insurance, capital markets, commercial banking, regulatory compliance, trade & supply chain finance, and risk management. In 2021, the payments segment is expected to account for the largest share of the overall FinTech blockchain market. The large share of this segment is mainly attributed to the increasing demand for fast, secure, and low-cost payment systems; the growing need to reduce the role of intermediaries during payments; increasing demand for virtual wallets; and the increasing need for contactless payment methods. However, the insurance segment is projected to record the highest CAGR during the forecast period. The key factors attributed to the fastest growth are the increasing demand for FinTech blockchain solutions to reduce fraud in the insurance industry, the rising demand to streamline the insurance process, and the increasing demand for blockchain solutions for providing insurance data security.

Based on organization size, the FinTech blockchain market is segmented into large enterprises and small & medium enterprises. In 2021, the large enterprises segment is expected to account for the largest share of the overall FinTech blockchain market. The large share of this segment is mainly attributed to the rising demand for smart invoicing, growing emphasis on automated payment systems by large enterprises, and the increasing need to store transaction data securely.

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Based on geography, the global FinTech blockchain market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2021, North America is expected to account for the largest share of the global FinTech blockchain market. The large share of this region is attributed to increasing government efforts to promote blockchain technology, rising technological developments in the U.S. and Canada, growing developments of blockchain for fintech solutions, and rising awareness about digital payment solutions.

The global FinTech blockchain market is highly fragmented in nature, comprising several small-level companies, start-ups, and international players. These companies are adopting different strategies in order to stay competitive and garner greater market share. At present, development of new products and services is one of the most preferred strategies adopted by the players operating in the FinTech blockchain market. However, strategic partnerships, collaborations, and agreements are some of the other growth strategies adopted by the leading players in this market. The majority of partnerships and collaborations are aimed towards broadening product portfolios, advancing the technological capabilities of existing products, and developing capabilities to cater to the changing demands of users. Growing demand for virtual wallets, increasing demand for digital fintech applications, and advancement in distributed ledger technologies like blockchain technologies are encouraging companies to concentrate their efforts towards FinTech blockchain platforms. Some of the prominent players operating in the FinTech blockchain market are IBM Corporation (U.S.), Coinbase (U.S.), Ripple (U.S.), Accenture (Ireland), Salt Blockchain Inc. (U.S.), Gemini Trust Company, LLC (U.S.), Circle Internet Financial Limited (U.S.), Blockchain.com(U.K.), Celsius Lending LLC (U.S.), BitGo (U.S.), Oracle Corporation (U.S.), Chainalysis Inc (U.S.), MakerDai (U.S.), Robinhood (U.S.), TrustToken (U.S.), J.P. Morgan (U.S.), Morgan Stanley (U.S.), Goldman Sachs Group, Inc. (U.S.), Axoni (U.S.), Token, Inc. (U.S.), and Amazon Web Services (U.S.) among others.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/fintech-blockchain-market-5013

Key questions answered in the report:

  • Which are the high-growth market segments in terms of the component, deployment mode, organization size, application, end user, and countries?
  • What is the historical market for FinTech blockchain across the globe?
  • What are the market forecasts and estimates from the period of 2019-2028?
  • What are the major drivers, restraints, and opportunities in the global FinTech blockchain market?
  • Who are the major players in the global FinTech blockchain market, and what market share do they hold?
  • How is the competitive landscape?
  • What are the recent developments in the global FinTech blockchain market?
  • What are the different strategies adopted by the major players in the market?
  • What are the geographic trends and high growth countries?
  • Who are the local emerging players in the global FinTech blockchain market, and how do they compete with the other players?

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