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(AsiaNewsWire.Net, July 20, 2021 ) FinTech Blockchain Market is projected to grow up to USD 35.45 billion by 2027 growing at a CAGR of 59.7% during the forecasting period 2021-2027.
The global fintech blockchain market could be categorized on the basis of providers, application, organization size and Industry verticals. Of these, the application and solution providers are projected to lead the market and are expected to grow significantly in the forecast period. The rapid adoption of blockchain technology as a solution by many financial institutions has given this market a boost..
The FinTech Blockchain market report provides geographic analysis covering regions, such as North America, Europe, Asia Pacific, and Rest of the World. The FinTech Blockchain market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
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The term "fintech" refers to new technology that aims to improve and automate the delivery and usage of financial services. A financial technology application developed using blockchain is referred to as FinTech blockchain. It offers software, solutions, and other FinTech blockchain services industry to help organizations automate and improve their financial services.
The substantial investment in technology-based solutions by banks and businesses is a key element in the fintech market's growth. Furthermore, infrastructure-based technologies and APIs are transforming the financial services industry's future, assisting the Global Fintech Market's expansion. Furthermore, as a result of increasing technological breakthroughs, financial technology businesses are supplying low-cost customized products, raising client expectations and boosting global market growth.
This report offers the major market player’s profiles, such as AWS (US), IBM (US), Microsoft (US), Ripple (US), Chain (US), Earthport (UK), Bitfury (US), BTL Group (Canada), Oracle (US), Digital Asset Holdings (US), Circle (Ireland), Factom (US), AlphaPoint (US), Coinbase (US), Abra (US), Auxesis Group (India), BitPay (US), BlockCypher (US), Applied Blockchain (UK), Record Keeper (Spain), Symbiont (US), Guardtime (Estonia), Cambridge Blockchain (US), Tradle (US), and Blockchain Advisory Mauritius Foundation (Mauritius).
Driving factors: The growth of this market is driven by increased KYC systems need on blockchain platforms
Due to factors such as the increasing demand for distributed user data collection, increasing need for policy/operations automation and standardisation, centrality of checks and risking, governance and quality of data, need to be made available for communication and transparency and notable features such as suspect active behaviour, automated KYC verification by blockchain technology The solution develops a complete audit trail that enables the Bank to comply with its regulatory requirements as well as reducing data validation costs over the whole financial network by taking blockchain to KYC compliance activities.
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