Blockchain In Banking And Financial Services Global Market Report 2025

Blockchain In Banking And Financial Services Market Overview

• Blockchain In Banking And Financial Services market size has reached to $6.98 billion in 2024

• Expected to grow to $58.2 billion in 2029 at a compound annual growth rate (CAGR) of 52.9%

• Growth Driver: Surge Of Cryptocurrency Adoption Accelerates Growth In The Blockchain In Banking And Financial Services Market

• Market Trend: Blockchain's Role In Reducing Fraud And Enhancing Security In The Banking And Financial Services Sector

• North America was the largest region in 2024 and Asia-Pacific is the fastest growing region.

What Is Covered Under Blockchain In Banking And Financial Services Market?

blockchain in banking and financial services refers to the use of distributed ledger technology to enhance transparency, security, and efficiency in financial transactions. Its purpose is to streamline processes, reduce costs, and improve trust by eliminating intermediaries and providing a secure, immutable record of transactions.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The main types of blockchain in banking and financial services are public blockchain, private blockchain, and others. Public blockchain doesn't require permission and is a distributed ledger technology that lets anyone join and make transactions, each peer features a copy of the ledger. The various applications of blockchain are fund transaction management, real-time loan funding, liquidity management, and others.

What Is The Blockchain In Banking And Financial Services Market Size 2025 And Growth Rate?

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 $10.65 billion in 2025 at a compound annual growth rate (CAGR) of 52.6%. 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.

What’s The Trade War Impact On Financial Services Industry?

The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the financial sector, particularly in investment strategies and risk management. Heightened tariffs have fueled market volatility, prompting cautious behavior among institutional investors and increasing demand for hedging instruments. Banks and asset managers are facing higher costs associated with cross-border transactions, as tariffs disrupt global supply chains and dampen corporate earnings, key drivers of equity market performance. Insurance companies, meanwhile, are grappling with increased claims risks tied to supply chain disruptions and trade-related business losses. Additionally, reduced consumer spending and weakened export demand are constraining credit growth and investment appetite. The sector must now prioritize diversification, digital transformation, and robust scenario planning to navigate the heightened economic uncertainty and protect profitability.

How Is The Blockchain In Banking And Financial Services Market 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

What Is Driving The Blockchain In Banking And Financial Services Market? Surge Of Cryptocurrency Adoption Accelerates Growth In The Blockchain In Banking And Financial Services Market

The rising use of cryptocurrency drives the growth of blockchain in the banking and financial services market. Cryptocurrency refers to a digital or virtual currency that uses cryptography for security and operates independently of a central authority or government. The growing acceptance of cryptocurrencies by businesses and financial institutions is a major driver of their popularity. Additionally, increased awareness and understanding of cryptocurrencies among the general public and institutional investors are driving their adoption. Blockchain is useful for crypto users as IT provides a secure, transparent, and decentralized platform for buying, selling, and storing cryptocurrencies, enabling peer-to-peer transactions without intermediaries. For instance, in September 2024, according to Security.org, a US-based company dedicated to providing free and open access to information and resources, in 2023, cryptocurrency ownership rates among American adults were 30%, which increased to 40% in 2024, reflecting a growing acceptance and interest in digital assets. Thus, the rising use of cryptocurrency will drive the growth of the market.

What Is Driving The Blockchain In Banking And Financial Services Market? The Pervasive Adoption Of Blockchain Technology In The Banking Sector Fuels Market Growth

The rise in the adoption of blockchain technology in the banking sector is the main driving factor for the growth of the market. Blockchain is one such technology that has the potential to revolutionize the banking sector for the better. Though there are few use cases of blockchain technology in banking, IT is likely to grow at a large scale. The blockchain enables more open, inclusive, and secure business networks, shared operating models, more efficient processes, reduced costs, and new products and services in banking and finance. It enables digital securities to be issued within shorter periods, at lower unit costs, with greater levels of customization. Digital financial instruments may thus be tailored to investor demands, expanding the market for investors, decreasing costs for issuers, and reducing counterparty risk. For example, Deloitte’s fourth annual ‘Global Blockchain Survey’ finds that the financial services industry (FSI) must accelerate toward product modernization and distribution to achieve economic growth. Around 96% of Financial Services pioneers believe blockchain is a broadly scalable solution, which has already achieved mainstream adoption. 73% of respondents fear their organizations will lose competitive advantage if they fail to adopt blockchain and digital assets, and 76% believe that the end of physical money is near, with digital assets replacing fiat currencies in the next five to 10 years. FSI pioneer respondents offer the greatest confidence, with 93% strongly or somewhat agreeing and 80% each for FSI overall and all survey respondents. Thus, the rise in the adoption of blockchain technology in the banking sector will drive the growth of the market.

Who Are The Major Players In The Global 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.

What Are The Key Trends Of The Global Blockchain In Banking And Financial Services Market? Blockchain's Role In Reducing Fraud And Enhancing Security In The Banking And Financial Services Sector

Major companies operating in the blockchain in banking and financial services sector are adopting the use of blockchain to help reduce fraudulent transactions, such as crypto storage services to gain a competitive advantage. Crypto storage services securely manage and store digital assets, offering options such as hot wallets for accessibility and cold wallets for enhanced security against hacking. For instance, in October 2024, Ripple, a US-based technology company that specializes in blockchain-based solutions for payment processing, launched a range of new crypto custody services designed to help banks and fintech companies store digital assets for their clients. This initiative includes pre-configured operational settings and policy frameworks to streamline asset management. Key features encompass integration with the open-source XRP Ledger, advanced monitoring for anti-money laundering compliance, and a user-friendly interface designed for ease of use. By providing these services, Ripple seeks to enhance digital asset storage capabilities for financial institutions, positioning itself competitively against established players such as Coinbase and Gemini while expanding its footprint beyond its traditional payment settlement solutions.

What Are The Key Trends Of The Global Blockchain In Banking And Financial Services Market? Integration of Debit and Credit Cards in Bitcoin ATMs to Enhance User Convenience

Major companies operating in the blockchain in banking and financial services market are focusing on integration with traditional banking, such as debit or credit cards, to enhance user convenience and expand transaction capabilities by allowing seamless conversion between cryptocurrency and fiat currencies. Debit or credit card integration in Bitcoin ATMs allows users to purchase cryptocurrency or withdraw cash using their traditional bank cards, simplifying the transaction process and increasing accessibility. For instance, in June 2023, Värdex Suisse AG, a Switzerland-based retail crypto financial services company, introduced debit card payments for Bitcoin transactions at four Bitcoin ATMs manufactured by General Bytes, a US-based provider of Bitcoin and crypto ATM manufacturing and software solutions. This collaboration marks a significant milestone as they have jointly developed the first Bitcoin ATM equipped with a payment terminal for card transactions.

Blockchain In Banking And Financial Services Market Merger And Acquisition: Ripple Expands Digital Offerings With Acquisition In Fortress Trust

In September 2023, Ripple, a US-based technology company that specializes in blockchain and digital payment solutions, acquired Fortress Trust for an undisclosed amount. With this acquisition, Ripple aims to enhance its crypto infrastructure by integrating Fortress Trust's capabilities and licenses, allowing for improved customer experiences and the exploration of new products, ultimately positioning itself as a one-stop shop for enterprises looking to manage value on the blockchain. Fortress Trust is a US-based technology company that specializes in blockchain-based solutions, particularly focused on providing digital asset management and compliance services.

Regional Outlook For The Global Blockchain In Banking And Financial Services Market

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 this market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in this market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

What Defines the Blockchain In Banking And Financial Services Market?

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.

How is Market Value Defined and Measured?

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.

What is the Market Assessment and Strategic Outlook for the Blockchain In Banking And Financial Services Industry?

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 market statistics, including industry global market size, regional shares, competitors with the market share, detailed market segments, market trends and opportunities, and any further data you may need to thrive in the blockchain in banking and financial services industry. The market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.