FinTech Blockchain Market - Demand in the Financial Industry Growing Importance

Albany, NY -- (SBWire) -- 12/03/2018 --The global FintTech blockchain market is anticipated to grow at a significant rate over the forecast period between 2018 and 2026. The key factor behind this growth is the increasing cryptocurrency market cap and Initial Coin Offerings across the globe. Reducing overall cost of ownership, faster transaction, and increasing compatibility with financial industry ecosystem are also driving the demand in the FinTech blockchain market.

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The global fintech blockchain market could be categorized on the basis of middleware providers, application and solution providers, and infrastructure and protocols providers. Of these, the application and solution providers is projected to lead the market and is expected to grow significantly in the coming years. Rapid adoption of blockchain technology as a solution in various financial companies has provided a fillip to this market.

Introduction of advanced technology in financial industry has enhanced its efficiency largely. FinTech blockchain applications are the ones that are highly in demand in the financial industry. The applicability of fintech blockchain is seen in smart contracts, payments, and compliance management/KYC that are benefitting insurance companies, banks, and investment banks. This helps in reducing infrastructure cost and improves their working efficiency. The growing importance of FinTech blockchain applications in the non-banking financial services is also expected to provide a fillip in this market.

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The report on the global fintech blockchain market throws light on the prominent players functioning in the market. The report presents key strategies such as partnerships, mergers and acquisitions, and new product launch adopted by these players. Some of the prominent players operating in the global fintech blockchain market are AWS, Microsoft, Ripple, Earthport, Oracle, Digital Asset Holdings, BTL Group, Circle, IBM, AlphaPoint, Coinbase, Symbiont, Guardtime, BitPay, Applied Blockchain, Chain, Cambridge Blockchain, Bitfury, and Tradle.