Fintech Blockchain Market to Surpass USD 8.7 Billion by 2031 | Skyquest Technology

Westford, USA, May 22, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the Fintech Blockchain Market will attain a value of USD 8.7 billion by 2031, with a CAGR of 43.8% during the forecast period (2024-2031). The market is expected to grow further with the adoption of cryptocurrencies and digital tokens for payments. Many fintechs are also starting to embrace blockchain technology to streamline their business processes, reduce fraudulent activities and improve service to their customers. Blockchain-based platforms like Ripple are gaining popularity, expected to gain more adoption in the future. Static currency is also gaining popularity as it provides cost savings, stability, and prototype of the DeFi protocol. In the next couple of years, DeFi is expected to be the blockchain technology that will fuel innovation across industries.

Download a detailed overview:

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

Browse in-depth TOC on “Global Fintech Blockchain Market”

  • Pages – 165
  • Tables – 123
  • Figures – 77

Fintech Blockchain Market Overview:

Report Coverage Details
Market Revenue in 2023 USD 1.58 billion
Estimated Value by 2031 USD 8.7 billion
Growth Rate Poised to grow at a CAGR of 43.8%
Forecast Period 2024–2031
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Provider, Application, Organization size, Verticals and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the world
Report Highlights Updated financial information / product portfolio of players
Key Market Opportunities Rising Adoption of Cryptocurrencies and Digital Tokens

Key Market Drivers Growing Demand for KYC System Applications on Blockchain Platforms   

Non-Banking Segment to Dominate Due to Rising Efficiency and Accessibility of Financial System

Non-Banking segment is dominating the market. The non-banking financial services (NBFS) segment plays a key role in the global fintech blockchain market, contributing to the innovation, efficiency and accessibility of financial systems. NBFS companies, including peer-to-peer (P2P) lending systems and crowdfunding systems including, to streamline lending processes. Leveraging blockchain technology to increase transparency and reduce costs associated with traditional lending channels, blockchain-based smart contracts for automated loan origination, execution and settlement.

Banking Segment to Drive Market Due to Increasing Banking Services

The banking segment is expected to grow at a CAGR of 13.5% during the forecast period. Taking advantage of global technological advances, digital payments and banking services were developed to facilitate financial transactions. Digital banking is not limited to electronic banking. It includes internet banking, m-banking and electronic card payments. Similarly, by 2030, the payment systems market is expected to grow to $360 billion.

North America is Dominating Due to Increasing Demand for Digital Payment Systems

The North America region in the market is expected to grow rapidly during the forecast period, mainly due to rising technologies such as Blockchain AI, IoT and more. Increasing demand for digital payment systems, adoption of cryptocurrency and proper policies across North America are anticipated to drive the market growth significantly in the coming years. There has been a significant increase in global awareness of the potential role of cryptocurrency among existing and underlying financial institutions.

Asia Pacific is experiencing a rise in the growth of global fintech blockchain market, driven by several key factors. First, the region’s rapidly expanding digital economy, driven by the rise of the internet and smartphones. The increasing number of digitally savvy consumers is increasing the demand for convenient financial services through digital channels. Moreover, government policies aimed at promoting digitization and financial inclusion, coupled with supportive regulatory frameworks, create favorable conditions for fintech growth. Several government policies and regulatory frameworks have contributed to the growth of fintech in Asia Pacific.

Request Free Customization of this report:

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

Fintech Blockchain Market Insights:

Drivers

  • Growing Demand for KYC System Applications on Blockchain Platforms
  • High Adoption of Advanced Technology

Restraints

  • Complexities Involved in Implementing Big Data and AI Integration
  • Uncertain Regulatory Standards and Frameworks

Prominent Players in Global Fintech Blockchain Market

  • Circle
  • Chain
  • Bitfury
  • Digital Asset Holdings
  • R3
  • ConsenSys
  • Huobi
  • Kraken
  • Paxos
  • Gemini

View report summary and Table of Contents (TOC):

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

Key Questions Answered in Global Fintech Blockchain Market Report

  • How big is the Fintech Blockchain Market?
  • Who are the key players in Fintech Blockchain Market?
  • Which region has the biggest share in the Fintech Blockchain Market?

  This report provides the following insights:

  • Analysis of key drivers (growing demand for KYC system applications on blockchain platforms, high adoption of advanced technology), restraints (complexities involved in implementing big data and AI integration, uncertain regulatory standards and frameworks), opportunities (aids in creating diverse wealth channels), influencing the growth of Global Fintech Blockchain Market.
  • Market Dynamics: Comprehensive information about the various products offered by the dominant players in the Global Fintech Blockchain Market.
  • Product Development/Innovation: An overview of emerging trends, R&D activities and product launches in the Global Fintech Blockchain Market.
  • Market Growth: Detailed information on profitable growing industries.
  • Market Trends: Complete information about new products, emerging geographical areas and recent developments in the market.
  • Competitive Analysis: An in-depth analysis of the market segments, growth strategies, revenue analysis, and products of the key market players.

Related Reports:

Blockchain Market
Blockchain as a Service Market
Blockchain IoT Market
Blockchain In Manufacturing Market
Blockchain in Healthcare Market

About Us:

SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.

We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.

Contact:

Mr. Jagraj Singh

Skyquest Technology

1 Apache Way,

Westford,

Massachusetts 01886

USA (+1) 351-333-4748

Email: sales@skyquestt.com

Visit Our Website: https://www.skyquestt.com/

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Privacy & Cookies Policy