DUBLIN--(BUSINESS WIRE)--Jun 14, 2018--The "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" report has been added to ResearchAndMarkets.com's offering.

High compatibility with financial services ecosystems and the rising cryptocurrencies market cap and ICO and faster transaction are expected to boost the growth of FinTech blockchain market

The global 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 demand for the distributed ledger technology, reduced total cost of ownership, the rising cryptocurrencies market cap and initial coin offerings, transparency and immutability, and faster transactions are said to fuel the market growth. The blockchain technology can set rules for transactions and enables smart contracts; real-time settlements; triple-entry accounting; and consensus to create ownership of virtual currencies and securities, leading to higher compatibility with the financial services industry ecosystem. However, uncertain regulatory standards and frameworks, and lack of blockchain applications and use cases would restrain the market growth during the forecast period.

The blockchain is a peer-to-peer technology with nodes supporting the ledger and the mining process and enables connectivity, which significantly transforms the payment industry. The integration of this technology provides real-time payments against assets with an immutable state and digital identity, resulting in substantial cost savings with respect to the reconciliation and settlement for several financial institutions and banks. In addition, blockchain automates the payment processing activities, eliminates the need for intermediaries, and reduces the administrative costs and time for providers and payers. All these factors are expected to fuel the overall growth of this segment in the FinTech blockchain market.

The FinTech blockchain market growth in Asia Pacific (APAC) region is gaining momentum and is expected to show the highest growth rate in the coming years. Vendors in the region have been adopting venture funding strategies and are investing in R&D activities to provide technologically advanced blockchain solutions. In addition, major economies in APAC, such as China, India, Australia, and New Zealand, are investing into blockchain-based solutions to innovate the traditional business processes and enhance the performance. The region has increased the adoption of such solutions across banking, as well as non-banking financial services.

The following key vendors are profiled in the report:

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) RecordesKeeper (Spain) Symbiont (US) Guardtime (Estonia) Cambridge Blockchain (US) Tradle (US) Blockchain Advisory Mauritius Foundation (Mauritius)

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview and Industry Trends

6 FinTech Blockchain Market, By Provider

7 Market By Application

8 FinTech Blockchain Market, By Organization Size

9 Market By Vertical

10 FinTech Blockchain Market, By Region

11 Competitive Landscape

12 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/research/m9gcd8/fintech?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20180614005763/en/

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SOURCE: Research and Markets

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PUB: 06/14/2018 11:11 AM/DISC: 06/14/2018 11:11 AM