Home Technology Fintech Blockchain Market Size, Share, Growth, Trends, Analysis, 2031

Fintech Blockchain Market

Fintech Blockchain Market Size, Share & Trends Analysis Report By Application (Smart Contracts, Exchanges and Remittance, Clearing and Settlements, Identity Management, Compliance Management/KYC, Others), By End-User (Small and Medium Size Enterprises (SMEs), Large Enterprises), By Industry (Banking, Non-Banking Financial) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Report Code: SRTE55929DR
Study Period 2019-2031 CAGR 44.2%
Historical Period 2019-2021 Forecast Period 2023-2031
Base Year 2022 Base Year Market Size USD 1.5 billion
Forecast Year 2031 Forecast Year Market Size USD 42.7 billion
Largest Market North America Fastest Growing Market Europe
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Market Overview

The global fintech blockchain market size was valued at USD 1.5 billion in 2022 and is projected to reach a value of USD 42.7 billion by 2031, registering a CAGR of 44.2% during the forecast period (2023-2031). The growing acceptance of innovative solutions in the financial industry and increased investment in blockchain technology are the primary market drivers driving the growth of fintech blockchain.

Fintech The implementation of blockchain technology in the financial technology (Fintech) sector is called Blockchain. Blockchain is a distributed ledger system that securely records and verifies transactions over a network of computers. On the other hand, Fintech refers to a broad variety of innovative financial technologies aimed at improving and automating various financial services.

In recent years, the fintech blockchain market share has grown dramatically. Investment and development in fintech blockchain solutions have increased as organizations and consumers see the promise of blockchain technology in the financial sector. The sector has seen a surge in the number of startups and large financial institutions using Blockchain in their services, resulting in many new applications. Examples are cryptocurrency exchanges, smart contracts, supply chain finance, and decentralized finance (DeFi) platforms. Furthermore, governmental support and increased knowledge of the benefits of blockchain technology have hastened its adoption in the financial industry.


  • Clearing and Settlements account for the largest share of the market by application.
  • Large Enterprises generate the most revenue by end-user.
  • Banking influenced the market growth by industry.
  • North America dominates the global market.

Market Dynamics

Global Fintech Blockchain Market Drivers

Security and Transparency

The intrinsic characteristics of Blockchain, such as immutability and transparency, contribute to increased security in financial transactions. As security issues remain a significant priority for the financial industry, blockchain adoption for secure and transparent transactions is a crucial driver. According to a PwC study, transparency is a critical driver of adopting Blockchain in financial services, with 45% of financial industry respondents citing it as a primary benefit. Global blockchain technology revenues for security and services are expected to reach USD 3.1 billion in 2022, according to Statista. Blockchain's immutability and cryptographic security properties contribute to its growing acceptance for secure financial transactions.

Furthermore, blockchain is based on a decentralized network of nodes, eliminating the need for a single authority. This decentralization improves transparency because all participants can access the same, up-to-date information. According to a Deloitte survey, 55% of respondents believe Blockchain enhances transparency and eliminates intermediaries. Transparency is a fundamental feature of blockchain technology, particularly in industries where transaction and process visibility is crucial. For example, Superscript, a UK-based firm, and Lloyd's, a London-based insurance market broker, released a specific insurance product named "Daylight" for crypto enterprises in May 2022. This service comprises technological liability and cyber insurance, which protects against various threats, such as ransomware attacks and unintentional copyright infringement. As a result, a wide range of characteristics is projected to contribute to the rising fintech blockchain market trend.

Global Fintech Blockchain Market Restraints

Regulatory Uncertainty

The regulatory environment for Blockchain and cryptocurrencies is changing, and uncertainty about future rules might make fintech blockchain adoption difficult. Various countries have taken multiple approaches to blockchain regulation. Some countries, for example, have embraced cryptocurrencies and blockchain technology, giving a clear legal framework, while others have set limits or are currently developing rules. Furthermore, China banned Bitcoin mining in May 2021, prompting many participants to cease their businesses or transfer to places with a more favorable regulatory climate. In September 2021, cryptocurrencies were explicitly prohibited. On the other hand, the country has been focusing on building the digital yuan (e-CNY). It will formally launch the next round of its central bank digital currency (CBDC) pilot test program in August 2022.

While no cryptocurrency-specific legislation exists in the United Kingdom, the country regards cryptocurrency as property (rather than legal tender), and crypto exchanges must register with the Financial Conduct Authority (FCA). Trading in cryptocurrency derivatives is also prohibited in the United Kingdom. There are cryptocurrency-specific reporting obligations relating to know-your-client (KYC) regulations, anti-money laundering (AML), and counter-terrorism financing (CFT). Although investors must still pay capital gains tax on crypto trading income, taxability is determined by the crypto activities done and the parties involved in the transaction. Meanwhile, India is still on the fence over cryptocurrency policy, neither permitting nor punishing its usage. A measure would outlaw all private cryptocurrencies in India, but it has yet to be voted on. All crypto assets are subject to a 30% tax, with a 1% tax deduction at source (TDS) on crypto trades.

Global Fintech Blockchain Market Opportunity

Smart Contracts for Automation

Smart contracts offer the option to automate and streamline many procedures in various industries, removing the need for intermediaries and lowering the possibility of errors. Insurance claims processing can be accelerated by using smart contracts to automate the evaluation and payout process. According to a Deloitte report, the insurance business is experimenting with Blockchain and smart contracts to boost transparency, efficiency, and fraud prevention. Building dApps atop Layer 2 solutions such as Polygon, Arbitrum, and others is one of the intelligent contract development topics for 2023. Layer 2 blockchains aim to solve scalability issues by offloading specific calculations and transactions from the main Blockchain while keeping it secure. Smart contracts can also automate real estate transactions, removing the need for third-party intermediaries such as escrow services. According to a World Economic Forum report, Blockchain and smart contracts can reduce fraud, improve transparency, and shorten the time required for real estate transactions.

In addition, smart contracts in supply chain finance can automatically trigger payments to suppliers upon successful delivery and verification of items. This decreases delays while increasing transparency. According to an Accenture analysis, Blockchain and smart contracts can address supply chain management concerns by creating a more dependable and transparent system. Besides, ongoing blockchain platform upgrades, such as Ethereum's move to Ethereum 2.0, aim to solve scalability and security problems, further boosting the use of smart contracts. Smart contracts are being actively explored and adopted by various industries, including finance, real estate, and supply chain. The rise of decentralized finance (DeFi) platforms reflects the growing use of smart contracts in the financial sector.

Regional Analysis

The global orange extract market analysis is conducted in North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

North America Dominates the Global Market

North America is the most significant global fintech blockchain market shareholder and is estimated to grow at a CAGR of 44.0% over the forecast period. Historically, international cross-border transfers have been subject to stringent laws and exorbitant fees. However, the rise of distributed ledger technology, such as Blockchain, has aided in reducing some of these costs and improving traceability. Fintech vendors are rapidly building new platforms for the delivery of online financial services, and global financial technology firms are collaborating with local cellphone operators, money transfer operators, and banks across borders in the United States, Mexico, and Canada. The recent COVID-19 outbreak has heightened the demand for digital transformation in the banking industry. Many banking organizations cooperated with fintech vendors to offer differentiated and competitive offerings as individuals were pushed to use online services and limit their bank visits. Digital customer experience is predicted to be the critical source of competitive advantage in the future, driving the market.

One of the most significant advantages of blockchain technology provided by fintech suppliers is the reduction of financial fraud and cyber-attacks. Blockchain technology aids in the prevention of data breaches and other fraudulent actions by allowing fintech companies to share or transfer secure and unaltered information via a decentralized network. Increased security and transparency may aid in the development of trust between financial organizations and their consumers. 

Europe is anticipated to exhibit a CAGR of 44.3% over the forecast period. In Europe, Blockchain accounts for the second-largest market share in the fintech business due to the expanding use of blockchain technology. Furthermore, the German Blockchain market in Fintech held the most significant market share, while the UK Blockchain market in Fintech was the fastest-growing market in Europe. Moreover, the UK is a worldwide FinTech hotspot, with over 1600 FinTech enterprises, and this number is predicted to grow by 2030. Furthermore, according to the Department of International Trade Report 2019 - London is the global financial innovation hub, with most investors putting more money into UK FinTech. With payment companies increasingly evolving across borders, many others have set their sights on expanding locally or globally.

As a result, cross-border investment activity has increased significantly. Prosus, based in the Netherlands, announced the acquisition of BillDesk 5 for USD 4.7 billion, while Zip, based in Australia, acquired a minority investment in ZestMoney. Several blockchain-based projects are now in the works. The Digital Trade Chain, a consortium of seven European Union banks, is working with IBM to create a blockchain-based supply chain management and trade finance platform. The purpose is to make cross-border trading easier for small and medium-sized European firms.

Asia-Pacific holds a significant marketplace. According to fintech blockchain market insights, Due to this technology's high transparency and greater efficiency to different industries, the Asia-Pacific Blockchain in Fintech Market is predicted to develop at the quickest CAGR. However, According to Tracxn, Indian fintech firms raised USD 2 billion in funding in 2023, a 63% decrease from the previous year's figure of USD 5.4 billion. Furthermore, China's Blockchain in the Fintech market held the most significant market share, while India's was the Asia-Pacific region's fastest-growing market.

Report Scope

Report Metric Details
By Application
  1. Smart Contracts
  2. Exchanges and Remittance
  3. Clearing and Settlements
  4. Identity Management
  5. Compliance Management/KYC
  6. Others
By End-User
  1. Small and Medium Size Enterprises (SMEs)
  2. Large Enterprises
By Industry
  1. Banking
  2. Non-Banking Financial
Company Profiles AWS IBM Microsoft Ripple Chain Earthport Bitfury BTL Group Oracle Digital Asset Holdings Circle Factom AlphaPoint Coinbase Ava Labs
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Singapore Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

The global orange extract market is segmented based on application, end-user, industry, and region.

The market is further segmented by application into Smart Contracts, Exchanges and Remittance, Clearing and Settlements, Identity Management, and Compliance Management/KYC.

Clearing and Settlements account for the largest share of the market. The clearing and settlement segments led the industry, accounting for most of the market revenue due to the increased usage of cryptocurrencies. Validating, matching, and finishing trades are all part of financial transactions' clearing and settlement stages. Blockchain technology enables real-time, transparent, secure clearing and settlement, lowering counterparty risks and operational inefficiencies. It ensures accurate and tamper-proof record-keeping, contributing to a more efficient and dependable financial infrastructure.

Smart contracts are self-executing contracts with terms encoded straight into code. They automate and enforce contractual processes in blockchain applications, eliminating the need for intermediaries. When established circumstances are met, these contracts perform actions automatically, increasing efficiency and transparency and lowering the risk of fraud across various industries such as insurance, real estate, and supply chain management.

End-users can further bifurcate the market into small and medium-sized enterprises (SMEs) and large enterprises.

Large Enterprises generate the most revenue in the market. The segment of large enterprises produced the most market revenue. Fintech blockchain solutions for large enterprises frequently address complex financial procedures, security, and operational efficiency. Such solutions include blockchain-based supply chain management, automated clearing and payments, and enhanced compliance management systems. Large organizations can use fintech blockchain to improve transparency, manage risks, and streamline processes on a grander scale, thanks to their various financial operations and regulatory constraints.

The efficiency, cost-effectiveness, and accessibility of technology can assist SMEs. Fintech blockchain applications for SMEs include streamlined payment systems, automated supply chain financing, and decentralized finance (DeFi) platforms targeted to the needs and scale of smaller enterprises. Adoption by SMEs can provide improved financial capabilities, increase transparency, and enable more effective business operations.

Based on industry, the market is sub-segmented into Banking and non-banking Financial.

Banking influenced the market growth. Fintech blockchain solutions in the banking sector aim to improve traditional financial procedures, increase efficiency, and provide secure and transparent transaction services. Cross-border payments, real-time settlements, trade financing, and identity verification are examples of Blockchain uses for banks. Banks use blockchain technology to cut operational expenses, expedite procedures, and eliminate the risks associated with transaction fraud and errors.

NBFIs comprise many financial businesses outside the traditional banking sector, such as insurance companies, asset management firms, fintech startups, and other financial service providers. Fintech blockchain solutions in this area can handle a variety of difficulties, such as insurance claims processing, automated investment management, and decentralized lending and borrowing platforms. Blockchain improves transparency and automates claims processing in the insurance industry, lowering fraud and increasing the efficiency of insurance-related activities.

Market Size By Application

Market Size By Application
  • Smart Contracts
  • Exchanges and Remittance
  • Clearing and Settlements
  • Identity Management
  • Compliance Management/KYC
  • Others
  • Recent Developments

    • August 2023- AR Tech introduced SRT, a Game-Changing Technology for Blockchain AI Applications.
    • November 2023- Amazon Web Services (AWS) announced the preview release of Amazon Managed Blockchain (AMB) Access Polygon. Access Polygon will enable developers to engage seamlessly with the Polygon blockchain, a high-throughput, low-fee, EVM-compatible Blockchain, allowing them to construct scalable apps quickly and safely.
    • October 2023- CMCC Global launched Web3 and Blockchain fintech fund with first close of USD100M.

    Key Players

    Fintech Blockchain Market Share of Key Players

    Fintech Blockchain Market Share of Key Players
    AWS IBM Microsoft Ripple Chain Earthport Bitfury BTL Group Oracle Digital Asset Holdings Circle Factom AlphaPoint Coinbase Ava Labs Others

    Frequently Asked Questions (FAQs)

    How big is the Fintech Blockchain Market?
    The global fintech blockchain market size was valued at USD 1.5 billion in 2022 and is projected to reach a value of USD 42.7 billion by 2031, registering a CAGR of 44.2% during the forecast period (2023-2031).
    North America region has the highest growth rate in the Fintech Blockchain Market.
    Smart Contracts for Automation are one of the key opportunities in Fintech Blockchain Market.
    Security and Transparency are some key drivers supporting the growth of the Fintech Blockchain Market.
    The global orange extract market is segmented based on application, end-user, industry, and region.

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