Blockchain In Banking And Financial Services Global Market Report 2025

Blockchain in banking and financial services involves the application of distributed ledger technology to improve transparency, security, and efficiency in financial transactions. Its aim is to streamline processes, lower costs, and enhance trust by removing intermediaries and providing a secure, immutable record of transactions.

The primary blockchain types include public blockchain, private blockchain, and others. Public blockchain, which operates without permission, enables participants to engage and conduct transactions, with each participant having a ledger copy. Blockchain finds applications in managing fund transactions, facilitating real-time loan funding, liquidity management, and more.

The blockchain in banking and financial services market research report is one of a series of new reports from The Business Research Company that provides blockchain in banking and financial services market statistics, including blockchain in banking and financial services industry global market size, regional shares, competitors with a blockchain in banking and financial services market share, detailed blockchain in banking and financial services market segments, market trends and opportunities, and any further data you may need to thrive in the blockchain in banking and financial services industry. This blockchain in banking and financial services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The blockchain in banking and financial services market size has grown exponentially in recent years. It will grow from $6.98 billion in 2024 to $10.85 billion in 2025 at a compound annual growth rate (CAGR) of 55.3%. The growth in the historic period can be attributed to the increasing demand for fast and real-time fund transfers, the rising use of digital banking services, strong economic growth in emerging markets, and increased government initiatives.

The blockchain in banking and financial services market size is expected to see exponential growth in the next few years. It will grow to $40.9 billion in 2029 at a compound annual growth rate (CAGR) of 39.4%. The growth in the forecast period can be attributed to the rise in adoption of blockchain technology in the banking sector, rising use of cryptocurrency, and the increased use of blockchain to reduce fraudulent transactions. Major trends in the forecast period include focus on blockchain technology for insurance, focus on blockchain integration into asset servicing, focus on strategic mergers and acquisitions and focus on digital currencies.

The increasing adoption of cryptocurrency is propelling the growth of blockchain in the banking and financial services market. Cryptocurrency is defined as a digital or virtual currency that employs cryptography for security and functions independently of any central authority or government. The rising acceptance of cryptocurrencies by businesses and financial institutions significantly contributes to their popularity. Moreover, heightened awareness and understanding of cryptocurrencies among the general public and institutional investors are further driving their adoption. Blockchain technology offers crypto users a secure, transparent, and decentralized platform for buying, selling, and storing cryptocurrencies, facilitating peer-to-peer transactions without intermediaries. For example, in September 2024, Security.org, a US-based organization dedicated to providing free access to information and resources, reported that cryptocurrency ownership rates among American adults rose from 30% in 2023 to 40% in 2024, indicating a growing acceptance and interest in digital assets. Therefore, the rising use of cryptocurrency is expected to drive market growth.

The surge in the adoption of blockchain technology within the banking sector stands out as a primary catalyst for market expansion. Blockchain, a transformative technology with substantial potential, promises to reshape banking operations profoundly. While current blockchain applications in banking are limited, the technology is poised for widespread integration. Blockchain facilitates secure and inclusive business networks, streamlined processes, cost reduction, and the introduction of innovative products and services in banking. It expedites the issuance of digital securities, ensuring shorter timelines, lower costs, and increased customization. For instance, Deloitte's 'Global Blockchain Survey' emphasizes the financial services industry's need to embrace blockchain and digital assets for economic growth. Approximately 96% of financial services pioneers view blockchain as a scalable solution, with 73% expressing concerns about losing a competitive edge without adoption. Moreover, 76% believe that digital assets will replace fiat currencies within the next five to ten years. The banking sector's increasing adoption of blockchain technology is poised to be a key driver for market growth.

Major companies in the blockchain sector for banking and financial services are increasingly utilizing blockchain technology to mitigate fraudulent transactions, particularly through crypto storage services, to secure a competitive edge. These crypto storage services effectively manage and safeguard digital assets, offering solutions such as hot wallets for accessibility and cold wallets for heightened security against hacking threats. For example, in October 2024, Ripple, a US-based technology firm specializing in blockchain solutions for payment processing, launched a suite of new crypto custody services aimed at assisting banks and fintech firms in managing digital assets for their clients. This initiative features pre-configured operational settings and policy frameworks to facilitate asset management. Notable aspects include integration with the open-source XRP Ledger, advanced monitoring for anti-money laundering compliance, and a user-friendly interface designed for ease of use. Through these services, Ripple aims to enhance the digital asset storage capabilities of financial institutions, positioning itself competitively against established players like Coinbase and Gemini while broadening its reach beyond traditional payment settlement solutions.

Leading companies in the blockchain banking and financial services market are prioritizing the integration with traditional banking systems, such as debit and credit cards, to improve user convenience and expand transaction capabilities by enabling seamless conversions between cryptocurrency and fiat currencies. This integration in Bitcoin ATMs allows users to purchase cryptocurrency or withdraw cash using their conventional bank cards, streamlining the transaction process and increasing accessibility. For instance, in June 2023, Vardex Suisse AG, a Switzerland-based retail crypto financial services firm, introduced debit card payments for Bitcoin transactions at four Bitcoin ATMs produced by General Bytes, a US-based provider of Bitcoin and crypto ATM manufacturing and software solutions. This collaboration represents a significant achievement as they have jointly created the first Bitcoin ATM equipped with a payment terminal for card transactions.

In September 2023, Ripple, a US-based technology company that specializes in blockchain and digital payment solutions, acquired Fortress Trust for an undisclosed sum. This acquisition is aimed at bolstering Ripple's crypto infrastructure by integrating Fortress Trust's capabilities and licenses, thereby enhancing customer experiences and exploring new product offerings, ultimately positioning Ripple as a comprehensive solution for enterprises seeking to manage value on the blockchain. Fortress Trust is a US-based technology firm specializing in blockchain-based solutions, with a particular focus on providing digital asset management and compliance services.

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.

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.

The countries covered in the blockchain in banking and financial services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The blockchain in the banking and financial services market includes revenues earned by entities by offering public blockchain, private blockchain, and other blockchain services for banking and financial services. Blockchain offers a form of digitalized, decentralized public record of all transactions. Blockchain was designed to record everything of value and not just transactions. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Blockchain In Banking And Financial Services Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on blockchain in banking and financial services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for blockchain in banking and financial services ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The blockchain in banking and financial services market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

• Markets Covered: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
• Companies Mentioned: SAP SE; Amazon Web Services; IBM; Accenture plc; Oracle Corporation
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.