Fintech

Blockchain Fintech Market: Expected to Surpass $57.84 Billion by 2031

Published

7 months ago

28 June, 2024

Blockchain Fintech Market: Expected to Surpass $57.84 Billion by 2031

WESTFORD, Mass., June 28, 2024 /PRNewswire/ — According to SkyQuest, the global system The fintech blockchain market Its size has been estimated at USD 2.2 billion in 2022 and is expected to grow from USD 3.16 billion in 2023 to USD 57.84 billion by 2031, with a CAGR of 43.8% over the forecast period (2024-2031).

Solutions that focus on integrating Blockchain technology with financial technology to improve transaction time and security are known as blockchain fintech solutions. The increasing advancements and acceptance of Blockchain technology are driving the growth of the blockchain fintech market. The global blockchain fintech market is segmented into application, vendor, organization size, industry vertical, and region.

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https://www.skyquestt.com/sample-request/fintech-blockchain-market

Blockchain fintech market overview:

Report coverage	Details
Market Revenue in 2023	$3.16 billion
Estimated value by 2031	$57.84 billion
Growth rate	Poised to grow at a CAGR of 43.8%
Forecast period	2024–2031
Forecast unit	Value (USD billion)
Report coverage	Revenue forecast, competitive landscape, growth drivers and trends
Segments covered	Application, vendor, organization size, industry vertical, component, blockchain type, and deployment model
Geographies covered	North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Highlights of the report	Up-to-date financial information/player product portfolio
Main market opportunities	Growing demand for KYC system applications on blockchain platforms
Key market drivers	Growing demand for smart contracts is a driving factor behind the market expansion

Segments covered The Fintech Blockchain market is as follows:

Application
- Payments, Clearing & Settlement, Exchanges & Remittances, Smart Contract, Identity Management, Compliance Management/KYC, Others
Supplier
- Application and solution providers, middleware providers, and infrastructure and protocol providers
Organization size
- Large Enterprises, Small and Medium Enterprises
Sector vertical
- Banking, non-banking financial and insurance services
Component
- Platform, Services (Consulting Services, Integration Services, Support and Maintenance Services)
Type of Blockchain
- Public Blockchain, Private Blockchain, Hybrid Blockchain
Distribution model

Request free customization of this report:

https://www.skyquestt.com/speak-with-analyst/fintech-blockchain-market

Payments and settlements to drive growth in global blockchain fintech market

The growing emphasis on improving transactions by reducing the time taken to process them while maintaining security is expected to help drive demand for blockchain fintech solutions in the payments, clearing and transactions sub-segment. The decentralized nature of fintech blockchain systems helps keep transactions highly transparent yet secure as they are stored in distributed ledgers. Lower transaction fees, higher efficiency and less dependence on cross-border intermediaries are other advantages of Blockchain in fintech that help this segment maintain a high market share.

You talk about Blockchain and miss smart contracts? That is simply not possible as smart contracts are also a vital part of the growth of the blockchain fintech market. Minimal third-party involvement means more security and less risk, which is exactly what smart contracts provide through Blockchain technology. The growing realization of the benefits of smart contracts in the fintech industry is expected to help increase the demand for blockchain fintech in the coming years.

View report summary and table of contents (TOC):

https://www.skyquestt.com/report/fintech-blockchain-market

SMEs maintain their position as the main adopters of Fintech Blockchain

Small and medium-sized enterprises (SMEs) lack the resources to invest in developing new and advanced technologies, which is why they mostly opt for off-the-shelf solutions or outsource them from leading companies. Blockchain fintech solutions are highly advanced and developing or operating them is not an easy feat for SMEs. The rapid adoption of Blockchain technologies among SMEs is also set to open up new opportunities for blockchain fintech providers in the future. Capital raising and crowdfunding are expected to help SMEs invest in developing their own blockchain fintech offerings.

On the other hand, large enterprises are investing in developing their own blockchain fintech solutions to have better control and provide new features to their customers. This segment will be very rewarding for blockchain fintech companies that are focusing on developing customized blockchain fintech solutions.

Application and solution providers remain the backbone of the blockchain Fintech market

Fintech applications and solutions are used directly by customers and organizations, therefore they should be highly intuitive yet secure. The integration of Blockchain technologies with Fintech applications to create unique Fintech blockchain offerings will help market players maintain their high market share. The increasing adoption of Blockchain technology in the financial industry will also create a new revenue stream for middleware providers and infrastructure and protocol providers in the future. The high investments of large companies in designing their own Fintech blockchain solutions will help infrastructure and protocol providers maximize their revenue generation potential in the future.

In summary, the growing need for greater security and faster transactions is changing the financial industry landscape, thus creating an opportune environment for blockchain fintech companies. Almost all segments are expected to offer a profitable growth scope, but investing in SMBs will be highly rewarding for both new and established blockchain fintech providers.

Related reports:

Blockchain Market

Blockchain as a services market

Blockchain in the healthcare market

Blockchain IoT market

Blockchain in the manufacturing market

Who we are:

SkyQuest is an intellectual property-focused research and investment bank and a technology and asset accelerator. We provide access to technologies, markets and finance across all sectors, namely Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.

We work closely with innovators, inventors, innovation researchers, entrepreneurs, corporations and investors to leverage external sources of research and development. We also help them optimize the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach to North America, Europe, ASEAN and Asia Pacific.

Contact:
Mr Jagraj Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
United States of America (+1) 351-333-4748
E-mail: [email protected]
Visit our website: Italian: https://www.skyquestt.com/

Logo: https://mma.prnewswire.com/media/2446095/SkyQuest_Logo.jpg

SOURCE SkyQuest Technology

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Fintech

Lloyds and Nationwide invest in Scottish fintech AI Aveni

Published

6 months ago

29 July, 2024

FinCrypto Staff

Lloyds and Nationwide invest in Scottish AI fintech Aveni

Lloyds Banking Group and Nationwide have joined an £11m Series A funding round in Scottish artificial intelligence fintech Aveni.

The investment is led by Puma Private Equity with additional participation from Par Equity.

Aveni creates AI products specifically designed to streamline workflows in the financial services industry by analyzing documents and meetings across a range of operational functions, with a focus on financial advisory services and consumer compliance.

The cash injection will help fund the development of a new product, FinLLM, a large-scale language model created specifically for the financial sector in partnership with Lloyds and Nationwide.

Joseph Twigg, CEO of Aveni, explains: “The financial services industry doesn’t need AI models that can quote Shakespeare, it needs AI models that offer transparency, trust and, most importantly, fairness. The way to achieve this is to develop small, highly tuned language models, trained on financial services data, vetted by financial services experts for specific financial services use cases.

“FinLLM’s goal is to set a new standard for the controlled, responsible and ethical adoption of generative AI, outperforming all other generic models in our selected financial services use cases.”

Robin Scher, head of fintech investment at Lloyds Banking Group, says the development programme offers a “massive opportunity” for the financial services industry by streamlining operations and improving customer experience.

“We look forward to supporting Aveni’s growth as we invest in their vision of developing FinLLM together with partners. Our collaboration aims to establish Aveni as a forerunner in AI adoption in the industry, while maintaining a focus on responsible use and customer centricity,” he said.

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Fintech

Fairexpay: Risk consultancy White Matter Advisory acquires 90% stake in fintech Fairexpay

Published

6 months ago

29 July, 2024

FinCrypto Staff

Treasury Risk Consulting Firm White Matter Alert On Monday he announced the acquisition of a 90% stake in the fintech startup Fair payment for an undisclosed amount. The acquisition will help White Matter Advisory expand its portfolio in the area of cross-border remittance and fundraising services, a statement said. White Matter Advisory, which operates under the name SaveDesk (White Matter Advisory India Pvt Ltd), is engaged in the treasury risk advisory business. It oversees funds under management (FUM) totaling $8 billion, offering advisory services to a wide range of clients.

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White Matter Advisory, based in Bangalore, helps companies navigate the complexities of treasury and risk management.

Fairexpay, authorised by the Reserve Bank of India (RBI) under Cohort 2 of the Liberalised Remittance Scheme (LRS) Regulatory Sandbox, boasts features such as best-in-class exchange rates, 24-hour processing times and full security compliance.

“With this acquisition, White Matter Advisory will leverage Fairexpay’s advanced technology platform and regulatory approvals to enhance its services to its clients,” the release reads.

The integration of Fairexpay’s capabilities should provide White Matter Advisory with a competitive advantage in the cross-border remittance and fundraising market, he added.

The release also states that by integrating Fairexpay’s advanced technology, White Matter Advisory aims to offer seamless and convenient cross-border payment solutions, providing customers with secure options for international money transfers.

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Fintech

Rakuten Delays FinTech Business Reorganization to 2025

Published

6 months ago

29 July, 2024

FinCrypto Staff

Rakuten (Japan:4755) has released an update.

Rakuten Group, Inc. and Rakuten Bank, Ltd. announced a delay in the reorganization of Rakuten’s FinTech Business, moving the target date from October 2024 to January 2025. The delay is to allow for a more comprehensive review, taking into account regulatory, shareholder interests and the group’s optimal structure for growth. There are no anticipated changes to Rakuten Bank’s reorganization objectives, structure or listing status outside of the revised timeline.

For more insights on JP:4755 stock, check out TipRanks Stock Analysis Page.

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Fintech

White Matter Advisory Acquires 90% Stake in Fintech Startup Fairexpay

Published

6 months ago

29 July, 2024

FinCrypto Staff

White Matter Advisory Acquires 90% Stake in Fintech Startup Fairexpay

You are reading Entrepreneur India, an international franchise of Entrepreneur Media.

White Matter Advisory, which operates under the name SaveDesk in India, has announced that it is acquiring a 90% stake in fintech startup Fairexpay for an undisclosed amount.

This strategic move aims to strengthen White Matter Advisory’s portfolio in cross-border remittance and fundraising services.

By integrating Fairexpay’s advanced technology, White Matter Advisory aims to offer seamless and convenient cross-border payment solutions, providing customers with secure options for international money transfers.

White Matter Advisory, known for its treasury risk advisory services, manages funds under management (FUM) totaling USD 8 billion.

Founded by Bhaskar Saravana, Saurabh Jain, Kranthi Reddy and Piuesh Daga, White Matter Advisory helps companies effectively manage the complexities of treasury and risk management.

The SaveDesk platform offering includes a SaaS-based FX market data platform with real-time feeds for over 100 currencies, bank cost optimization services, customized treasury risk management solutions, and compliance guidance for the Foreign Exchange Management Act (FEMA) and other trade regulations.

Fairexpay is a global aggregation platform offering competitive currency exchange rates from numerous exchange partners worldwide. Catering to both private and corporate customers, Fairexpay provides seamless money transfer solutions for education, travel and immigration, as well as simplifying cross-border payments via API and white-label solutions for businesses. Key features include competitive currency exchange rates, 24-hour processing times, extensive currency coverage of over 30 currencies in more than 200 countries, and secure, RBI-compliant transactions.

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