Data presented by the TradingPlatform has shown that the global value of the top 100 Fintech is $2.8T and will approach the $3trillion mark soon.
According to the data, Visa and Mastercard lead the pack with a market cap of almost $478 billion and $368 billion respectively. Chinese Ant Financial, or Ant Group, comes in third with a market valuation of 312 billion dollars.
Commenting on the data, Tradingplatform.com’s Edith Reads said. “The Fintech industry has grown from strength to strength. The sector is becoming popular daily. Despite the world’s economic breakdowns, the sector is surging. With little fine-tuning on regulations, Fintech will be exceptional.”
She further added, “The digital payments sector is the key segment of the Fintech industry. It accounts for more than 80% of global Fintech sales. People who adopted the practice of soft cash during COVID-19 are still relying on Fintech. Besides, many people are leveraging blockchain for financial transactions.”
Fintech investments have risen steadily since the last global financial crisis. The sector’s growth was a technical solution to the traditional financial services industry. The world financial crisis exposed these weaknesses and so the need for a robust system.