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

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.