Global Fintech Blockchain Market

Fintech Blockchain Market Size, Share, Growth Analysis, By Provider(Middleware, Application), By Application(Payments, Clearing), By Organization Size(Large enterprises, Small), By Verticals(Banking, Non-Banking Financial Services) - Industry Forecast 2024-2031


Report ID: SQMIG45E2173 | Region: Global | Published Date: July, 2001
Pages: 165 | Tables: 123 | Figures: 77

Fintech Blockchain Market Insights

Fintech Blockchain Market size was valued at USD 1.1 billion in 2019 and is poised to grow from USD 1.58 billion in 2023 to USD 8.7 billion by 2031, growing at a CAGR of 43.8% in the forecast period (2024-2031).

The Fintech ecosystem consists of a diverse group of players who are all committed to improving and innovating the competition in the financial industry, ultimately reaping benefits for customers and increasing production capacity. The five distinct components of the Fintech ecosystem are fintech start-ups, technology developers, government, financial stakeholders, and traditional financial institutions. Several technology innovations have occurred in the last decade, encompassing sectors such as social networking sites, artificial intelligence, big data and cloud information technology, VR technology, and, most notably, blockchain. Payments and banking, investments and capital markets, loans, crowdfunding, insurance services, and loyalty schemes are all examples of fintech applications and innovations.

Simply put, blockchain technology, as described in the Bitcoin whitepaper, is a public, trustable, and shared ledger that is distributed to all of a community's members via a peer-to-peer network. The members of this community may or may not know each other; however, each member keeps his or her copy of the information, and each update to the blockchain must be collectively authenticated by all members. This removes the need for a third-party facilitator. Blockchain is composed of an increasing number of documents known as blocks, which include transactions. To protect blocks from manipulation, cryptographic signatures and consensus techniques are used. As a result, the blockchain can function as a transparent process of machines that produces and maintains the information. A significant component of Fintech is the presence of massive legacy systems that cannot be transformed overnight into a decentralized architecture. Fintech will require a significant amount of time and evolvement before it can integrate blockchain.

As a result of technological disruptions such as artificial intelligence, cloud technology, and blockchain, the Fintech industry has undergone several changes in the last decade. Blockchain, in particular, is causing widespread disruption across all financial technology verticals. In the Financial sector, a major source of concern is an absence of customer visibility. Transparency is a cornerstone in bridging the gap between clients and financial institutions. Because no one party owns the information processed in the network, it cannot be transformed at the whim of a single organisation, blockchain is effective at increasing transparency.

US Fintech Blockchain Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2024-2031

Global Market Size

USD 1.1 billion

Largest Segment

Middleware

Fastest Growth

Middleware

Growth Rate

43.8% CAGR

Global Fintech Blockchain Market ($ Bn)
Country Share for Aisa Pacific Region (%)
Country Share for North America Region (%)
Global Fintech Blockchain Market By Provider ($ Bn)
Global Fintech Blockchain Market By Provider (%)

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Fintech Blockchain Market Segmental Analysis

The global fintech blockchain market is segmented based on provider, application, organizational size, verticals, and region. Based on provider the market is segmented into middleware, application, solution. Based on application, the market is segmented into payments, clearing, and settlement, exchanges and remittance, smart contract, identity management, compliance management/KYC, others. Based on organization size the market is segmented into large enterprises, small and medium-sized Enterprises, Based on verticals the fintech blockchain market is segmented into banking, non-banking financial services, insurance. Based on region the global fintech blockchain market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Fintech Blockchain Market Analysis by Verticals

During the forecast period, the banking segment is expected to grow at a CAGR of 13.5%. Digital payments and banking were created to facilitate financial transactions by leveraging global technological breakthroughs. Digital banking is no longer limited to electronic banking. It includes among many other things, internet banking, m-banking, and payment with electronic cards. Similarly, by 2030, the global payment systems market is expected to grow by USD 360 billion. Any transaction that allows a payment to be paid digitally falls under the purview of the payments sector.

At every level, traditional financial techniques rely on intermediaries. To be completed, every transaction requires the presence of a counterparty. As a result, bottlenecks form and systems are vulnerable to node failures. Disintermediation refers to the elimination of middlemen between customers and producers. The goal of blockchain is to eliminate the intermediary by introducing decentralisation into the finance workflow. No single entity controls the transactions in a blockchain network. Depending on the chosen consensus method, the system as a whole agrees on state changes in an untrustworthy manner.

Global Fintech Blockchain Market By Provider, 2019 (%)

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Fintech Blockchain Market Regional Insights

Asia-Pacific held the largest global fintech blockchain market share and dominated the market in 2022, followed by North America, Europe, Latin America, and the Middle East and Africa. North America's market is expected to grow rapidly during the forecast period, owing primarily to the increasing adoption of technologies such as blockchain AI and IoT. Furthermore, rising demand for digital payment systems, rising cryptocurrency adoption, and favourable government regulations and policies across North America are expected to drive market growth significantly in the coming years.

There has been a tremendous increase in global awareness of the potential role of cryptocurrency and its underlying infrastructure in current financial institutions. The increase in activity in the field also has prompted more action from central banks, with several considering the implementation of digital currencies similar to China's digital yuan. It has also increased regulatory scrutiny. China outright prohibited cryptocurrency mining and trading, while India was the first to do so. Other governments, on the other hand, have continued to aggressively promote fintech exploration and solutions.
 
With payment firms rapidly evolving across countries, many others have set their sights on continuing to expand locally or globally. As a result, there has been a significant increase in cross-border investment activity. Prosus, based in the Netherlands, announced the $4.7 billion acquisition of payments platform BillDesk 5, while Zip, based in Australia, acquired a minority stake in ZestMoney. Several blockchain-based projects are currently in development. The Digital Trade Chain, a European Union partnership of seven banks, is collaborating with IBM to develop a blockchain-based supply chain management and trade finance platform. The goal is to facilitate cross-border trade for European small and medium-sized businesses.

The market in North America is expected to grow considerably during the forecast period. The high adoption of advanced technology and the presence of large players in this region are likely to create ample growth opportunities for the market. 

Global Fintech Blockchain Market By Region, 2024-2031
  • Largest
  • Fastest

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Fintech Blockchain Market Dynamics

Fintech Blockchain Market Driver

The growing demand for KYC system applications on blockchain platforms is propelling the growth of this market.

  • Due to factors such as rising demand for distributed user data collection, growing need for automation and standardisation of strategy, centralization of control system and risks, democratic accountability and data quality, the need for transparency and communication and notable features such as suspicious activity reporting and comprehensive authentication process, the automation of KYC verification through blockchain technology is experiencing a surge in demand. 
  • The solution is developing a full audit trail with the use of blockchain technology in KYC compliance operations, empowering the bank's regulatory compliance and lowering data validation costs across the entire financial network. Furthermore, it offers notable benefits such as flexible confidentiality and improved financial services, while maintaining the highest level of privacy for individual data. 
  • Furthermore, using blockchain for KYC verification can provide a faster, easier, safer, and more efficient verification process than traditional verification procedures. Blockchain has a decentralised computing architecture that allows data from various authoritative service providers to be aggregated into a single intrinsic, validated, and cryptography secured database. Leading software development firms have incorporated blockchain-based KYC financial institutions for efficient customer service and risk management, boosting the FinTech blockchain market's growth.

Fintech Blockchain Market Restraint

The complexities involved in implementing big data and AI integration are a major impediment to market growth

  • Every enterprise has been influenced by big data and artificial intelligence (AI). Using big data, organisations can obtain personal information about customers ranging from their social status to financial behaviour, habits, and in-app activity. This data is crucial for banks, particularly when it comes to credit scores and other rising banking services. Using big data, AI automates the entire process of detecting fraud, analysing risk, and successfully managing transactions. 
  • However, when it comes to using these technologies, Fintech companies face a number of challenges. They require expertise and ongoing maintenance. Integrating new technology into existing systems will be difficult. Implementing this will necessarily require not only technological changes, but also the transformation of organisations and the compulsion of customers and businesses to adapt.
  • To integrate AI with big data, businesses would deploy AI technologies using machine learning. To prepare the algorithm for this, they will need a large amount of data. Most proposed model are incapable of handling massive amounts of data. As a result, organisations may address this issue by implementing a one-shot learning model, that also allows them to prepare their machine learning system on less data.

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Fintech Blockchain Market Competitive Landscape

Key companies are investing in research and development to launch advanced sensors with specialised features for a wide range of blockchain application. Furthermore, to strengthen their market position, the majority of well-established companies in the Fintech Blockchain market are focusing their efforts on acquiring new start-ups. The top players are currently focusing on increasing their technological capacity while also expanding their geographical boundaries. Significant R&D activities for transformative and highly intellectual programmable blockchain platforms is expected to result in high revenue economic expansion opportunities for global market participants. Over the forecast period, this advantage is also expected to create considerable product portfolio options currently for prominent entrée level players in the global market. The global market has seen an increase in demand for this technology in applications that include smart contracts, identity authentication, payments, clearing, and settlement, and risk and compliance (also known as know your customer) (KYC).

Fintech Blockchain Market Top Player's Company Profiles

  • Coinbase
  • Binance
  • Bitmain
  • Ripple
  • BitGo
  • Circle
  • Chain
  • Bitfury
  • Digital Asset Holdings
  • R3
  • ConsenSys
  • Huobi
  • Kraken
  • Paxos
  • Gemini
  • BlockFi
  • SFOX
  • Bitso
  • Bitstamp
  • OKCoin

Fintech Blockchain Market Recent Development

  • In September 2022, App for Fintech Savings and Spending Eco intends to convert user account balances held at Prime Trust in US dollars into USDC, which will then be held at Zero Hash, a digital settlement service.
  • In September 2022, Binance Pay to facilitate crypto payments in the country. Cryptocurrency adoption continues to grow in the Kingdom of Bahrain, with local businesses accepting crypto payments such as Bitcoin (BTC).
  • In September 2022, Pezesha, a Kenyan fintech that provides bridging finance to small and medium-sized businesses, recently raised $11 million in pre-Series A debt-equity funding. The round was led by Women's World Banking Capital Partners II, with participation from Cardano blockchain builder Input Output Global.

Fintech Blockchain Key Market Trends

  • Digital Transformation: The increasing digital transformation of the financial industry to provide customised digital experiences and digital products is changing the banking and finance landscape. Digital banking technologies such as online banking, wallets, blockchain technology, and automated chatbots for customer support are some of the examples that are seeing increased demand because they improve overall operational efficiency, provide real-time settlement, and reduce the number of steps and counterparties required to achieve the same levels of confidence as traditional processes.
  • Emergence of Cryptocurrency: The legalisation of cryptocurrency encourages companies and investors to increase their investments in blockchain technology. Furthermore, it encourages market participants to make greater efforts to improve their services in order to gain a competitive advantage. Companies' efforts are expected to make blockchain technology more effective and efficient in the near future. DeFi is a blockchain-based emerging financial technology that reduces banks' control over financial services and money. Over the forecast period, the growing strategic initiatives in the decentralised finance space are expected to drive market growth. For instance, Square, a payment company, announced that it will launch a DeFi business using bitcoin.
  • Aids in Creating Diverse Wealth Channels: The threat of bankruptcy of several banking institutions has created major fear in the customers but on the other hand blockchain enables individuals to manage their wealth without the presence of a bank. Those who wish to hold cryptocurrencies such as Bitcoin, Ethereum, or any other type of digital asset can do so through the usage of blockchain digital wallets. These wallet holders are protected by private keys and have their unique public addresses, allowing them to make and receive payments from others. Wallet holders who retain their private keys are the only owners of their assets thanks to the usage of blockchain technology; unlike traditional currency, there are no banks that accept responsibility for storing a customer's money.

Fintech Blockchain Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to the global fintech blockchain market report analysis, we found that North America's market is predicted to increase fast due to blockchain AI and IoT usage. Demand for digital payment systems, cryptocurrency acceptance, and favourable government rules and policies in North America will fuel market expansion in the next few years.
Global understanding of cryptocurrency's potential significance in financial institutions has risen dramatically. The rise in activity has also spurred central banks to contemplate implementing digital currencies like China's digital yuan. Regulatory monitoring has also intensified. China banned cryptocurrency mining and trading before India. Other governments have aggressively promoted fintech solutions. Many payment businesses are expanding locally or worldwide as they evolve across countries.

Report Metric Details
Market size value in 2019 USD 1.1 billion
Market size value in 2031 USD 8.7 billion
Growth Rate 43.8%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Provider
    • Middleware, Application, Solution
  • Application
    • Payments, Clearing, Settlement, Exchanges, Remittance, Smart Contract, Identity Management, Compliance Management/KYC, Others
  • Organization Size
    • Large enterprises, Small, Medium-Sized Enterprises
  • Verticals
    • Banking, Non-Banking Financial Services, Insurance
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Coinbase
  • Binance
  • Bitmain
  • Ripple
  • BitGo
  • Circle
  • Chain
  • Bitfury
  • Digital Asset Holdings
  • R3
  • ConsenSys
  • Huobi
  • Kraken
  • Paxos
  • Gemini
  • BlockFi
  • SFOX
  • Bitso
  • Bitstamp
  • OKCoin
Customization scope

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  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Fintech Blockchain Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Fintech Blockchain Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Fintech Blockchain Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Fintech Blockchain Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Fintech Blockchain Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Fintech Blockchain Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Fintech Blockchain Market size was valued at USD 1.1 billion in 2019 and is poised to grow from USD 1.58 billion in 2023 to USD 8.7 billion by 2031, growing at a CAGR of 43.8% in the forecast period (2024-2031).

Key companies are investing in research and development to launch advanced sensors with specialised features for a wide range of blockchain application. Furthermore, to strengthen their market position, the majority of well-established companies in the Fintech Blockchain market are focusing their efforts on acquiring new start-ups. The top players are currently focusing on increasing their technological capacity while also expanding their geographical boundaries. Significant R&D activities for transformative and highly intellectual programmable blockchain platforms is expected to result in high revenue economic expansion opportunities for market participants. Over the forecast period, this advantage is also expected to create considerable product portfolio options currently for prominent entrée level players in the market. The market has seen an increase in demand for this technology in applications that include smart contracts, identity authentication, payments, clearing, and settlement, and risk and compliance (also known as know your customer) (KYC). 'Coinbase', 'Binance', 'Bitmain', 'Ripple', 'BitGo', 'Circle', 'Chain', 'Bitfury', 'Digital Asset Holdings', 'R3', 'ConsenSys', 'Huobi', 'Kraken', 'Paxos', 'Gemini', 'BlockFi', 'SFOX', 'Bitso', 'Bitstamp', 'OKCoin'

Due to factors such as rising demand for distributed user data collection, growing need for automation and standardisation of strategy, centralization of control system and risks, democratic accountability and data quality, the need for transparency and communication and notable features such as suspicious activity reporting and comprehensive authentication process, the automation of KYC verification through blockchain technology is experiencing a surge in demand. 

Digital Transformation: The increasing digital transformation of the financial industry to provide customised digital experiences and digital products is changing the banking and finance landscape. Digital banking technologies such as online banking, wallets, blockchain technology, and automated chatbots for customer support are some of the examples that are seeing increased demand because they improve overall operational efficiency, provide real-time settlement, and reduce the number of steps and counterparties required to achieve the same levels of confidence as traditional processes.

Asia-Pacific held the largest fintech blockchain market share and dominated the market in 2022, followed by North America, Europe, Latin America, and the Middle East and Africa. North America's market is expected to grow rapidly during the forecast period, owing primarily to the increasing adoption of technologies such as blockchain AI and IoT. Furthermore, rising demand for digital payment systems, rising cryptocurrency adoption, and favourable government regulations and policies across North America are expected to drive market growth significantly in the coming years.

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