Comprehensive 2025 Blockchain In Banking And Financial Services Market Overview: Trends, Forecasts, and Growth Drivers

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How Large Will the Blockchain In Banking And Financial Services Market Size By 2025?
Recent years have seen a significant expansion in the size of the blockchain in banking and financial services market. The projections indicate a surge from $6.98 billion in 2024 to $10.85 billion in 2025, recording a compound annual growth rate (CAGR) of 55.3%. The historically observed growth is credited to factors such as the escalating demand for swift and real-time transfers of funds, growing preference for digital banking services, robust economic advancement in emerging markets, and the introduction of numerous governmental initiatives.

How Big Is the Blockchain In Banking And Financial Services Market Size Expected to Grow by 2029?
The market size of blockchain in banking and financial services is projected to undergo substantial growth in the coming years. A compound annual growth rate (CAGR) of 39.4% is expected to take this to $40.9 billion by 2029. This anticipated increase during the projection period can be linked to the burgeoning prevalence of blockchain application in the banking industry, the amplifying use of cryptocurrency, and the growing utilization of blockchain to curtail fraudulent deals. During the forecast period, prominent trends include the emphasis on blockchain technology for insurance, integration of blockchain into asset services, strategical mergers and acquisitions, and digital currencies.

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Which Key Market Drivers Powering Blockchain In Banking And Financial Services Market Expansion and Growth?
The surge in cryptocurrency usage is fuelling the expansion of blockchain technology in the banking and financial services sector. Cryptocurrencies are digital or virtual currencies that use encryption for security, and function autonomously, free from a central governing body. The increased acceptance of these digital assets by businesses and financial establishments is a crucial reason for their growing popularity. Moreover, the wider understanding and awareness of cryptocurrencies amongst the general public and institutional investors is boosting their adoption rate. For users of crypto, blockchain offers a safe, transparent, and decentralized platform for their transactions, storage, and trade, eliminating the need for middlemen. Take for instance the data provided by Security.org, a US-based firm committed to offering unrestricted free access to information and resources, which showed that as of September 2024, 40% of American adults owned cryptocurrencies, up from 30% in 2023. This clearly shows an increased acceptance and interest in these digital assets. Hence, it can be concluded that the thriving use of cryptocurrency is indeed propelling the growth of the market.

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Which Fast-Growing Trends Are Poised to Disrupt the Blockchain In Banking And Financial Services Market?
Major firms involved in the blockchain in finance and banking industry are resorting to the use of blockchain technology to minimize fraudulent transactions, like crypto storage services, to have a competitive edge. Crypto storage services offer the secure management and storage of digital assets, presenting solutions like hot wallets for easy accessibility and cold wallets for higher protection against cyber-attacks. For example, in October 2024, Ripple, a US-based tech firm with expertise in blockchain-based payment processing solutions, introduced a series of new crypto custody services aimed at assisting banks and fintech firms in storing their client's digital assets. This initiative includes pre-set operational settings and policy frameworks for easier asset management. Key highlights include compatibility with the open-source XRP Ledger, advanced tracking for complying with anti-money laundering, and a user-friendly interface for simplicity of use. Ripple aims to strengthen digital asset storage capabilities of financial institutions by providing these services, strategically positioning itself against well-established competitors like Coinbase and Gemini and broadening its scope beyond its conventional payment settlement solutions.

What Are the Emerging Segments in the Blockchain In Banking And Financial Services Market?
The blockchain in banking and financial services market covered in this report is segmented -

1) By Type: Public Blockchain, Private Blockchain, Others
2) By Application: Fund Transaction Management, Real Time Loan Funding, Liquidity Management, Others

Subsegments:
1) By Public Blockchain: Open And Permissionless Blockchains, Decentralized Finance (DeFi) Platforms, Cryptocurrencies And Tokens
2) By Private Blockchain: Consortium Blockchains, Permissioned Blockchains, Enterprise Blockchain Solutions
3) By Others: Hybrid Blockchains, Sidechains, Federated Blockchains

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Who Are the Global Leaders in the Blockchain In Banking And Financial Services Market?
Major companies operating in the blockchain in banking and financial services market include SAP SE, Amazon Web Services, IBM, accenture* plc, Oracle Corporation, ConsenSys, Hewlett Packard Enterprise, Bitfury Group Limited, Infosys, Auxesis Services & Technologies (P) Ltd, DigitalX, Power Ledger, Data61ANZ, Westpac, Lapits, Indra Capital, Hashcash Consultants, L&T Infotech, Hyperlink InfoSystem, Moontek, EvaCodes, Innowise Group, Infograins, Trust Alliance Information Development Inc., Ltd, Shangha, Tech Exactly, Chimpare, SoluLab, Blockchain.com, Elliptic, Zamna, Adhara, Argo Blockchain, Everledger, Travala.com, Coinfirm, Unicsoft, Aspired, ELEKS, Labrys, NaNLABS, Amaris, Say Digital I/O, Artezio, CodeInside, Crypton Studio, IT Test, EVEN Lab, Evrone, Around25, Pixelette Technologies Ltd, RebelDot, Zitec, Agile Freaks, Altasoft Software Solutions, WebitFactory, Microsoft Corporation, Intel, JPMorgan Chase & Co, Akamai Technologies Inc, AlphaPoint, BitOasis, Pyypl, Zone, Gath3r, MidChains, HAYVN, DEFiYIELD, MenaPay, Light Protocol, Afriex, BitPesa, Bitsoko, BTCGhana, Luno, Ice3X, GeoPay, Dash, BitSure, Sava, Standard Bank, Chankura, PayFast.

Which are the Top Profitable Regional Markets for the Blockchain In Banking And Financial Services Industry?
North America was the largest region in the blockchain in banking and financial services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the blockchain in banking and financial services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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