FinTech Blockchain Market worth 6,228.2 Million USD by 2023
The report "FinTech Blockchain Market by Provider, Application (Payments, Clearing, and Settlement, Exchanges
and Remittance, Smart Contract, Identity Management, and Compliance Management/KYC), Organization Size,
Vertical, and Region - Global Forecast to 2023", The FinTech blockchain market size is expected to grow from USD
370.3 Million in 2018 to USD 6,228.2 Million by 2023, at a Compound Annual Growth Rate (CAGR) of 75.9% during
the forecast period. The key factors driving the market include its high compatibility with the financial industry
ecosystem, faster transactions, reduced total cost of ownership, and the rising crypto-currency market cap and
Initial Coin Offering (ICO).
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The payment, clearing, and settlement segment is estimated to account for the largest market size in the
FinTech blockchain market in 2018.
The payment, clearing, and settlement segment is expected to dominate the overall market in terms of share. This
domination by the segment is attributed to the blockchain technology applications, which are predominantly
finding use in the payment industry to reduce risks and improve the efficiency and transparency in payment
systems across different verticals. Additionally, the shift from the centralized technical infrastructure to the
distributed, ecosystem-enabling platform is laying the foundation for new business models in the payment
The application and solution providers segment is expected to grow at the highest CAGR in the global FinTech
blockchain market during the forecast period.
The market has been segmented on the basis of providers into 3 categories: application and solution providers,
middleware providers, and infrastructure and protocols provider. These providers offer infrastructure to develop
in the blockchain-based platforms. Among these types, the application and solution providers segment is the