November 21, 2019

KPMG Rankings Shows Bitcoin, While Cryptocurrency Innovation Has High Results

Big Four auditing firm KPMG released its 2019 Fintech100 register, which lists the first 100 worldwide finch companies. The list had less number of Bitcoin firms but strengthened innovation in the payments industry.

The leader of 2019 is the same as in the previous year: AntFinancial, which is owned by Jack Ma of Alibaba. Under control of AntFinancial is Alipay leading payment systems, which is evaluated in $83 billion.

Among the firms that propose innovation through cryptocurrency and blockchain, JD Finance gad position on the third place, surpassed by Grab, an Uber-like rideshare app.

Robinhood became in 14th place in 2018 from 8th place in 2018. Still, crypto innovation stays strong, according to KPMG’s disposition.

Regarding the force of Chinese businesses on the list, Chris Wang, head of fintech at KPMG China mentioned:

“Fintech development continues to strengthen position in China and to see some changes in China’s fintech landscape is impossible. According to trends, we learn globally, and we discover an increasing number of insurance and multi-sector companies in China on the list. It is a result of technologies and innovations that have spread into more financial services sectors.”

Such businesses as Binance, MemaPay, Moin, Silot, and Tokeny are indisputably included in the top 100.

$18 billion during the last year and more than $70 billion in their lifetimes’ profit, which Fintech100 companies could raise. These businesses change the world with their innovations with the trust of over 2.5 billion partners globally.

A significant number of companies on the Fintech100 used advantages from open banking, letting them access customer banking to formation more personalized services.

Disclaimer

This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose.

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