Digital payment wallets, investment platforms, and cryptocurrency exchanges are being swept throughout the world by the rise of the financial technology sector.
Notably, five of the top ten most influential fintech businesses in 2022 will be crypto enterprises, according to a report that Utility Bidder released with Finbold on September 20. This study considered a variety of characteristics, including value, financing, social following, and internet visibility, in order to calculate an overall fintech index score.
OpenSea, the world’s biggest non-fungible token (NFT) marketplace, scored second among the top ten companies with an overall fintech score of 8.61, only behind the personal finance business Chime.
The remaining crypto and blockchain companies in the top 10 are the cryptocurrency exchange FTX, Chainalysis, Fireblocks, and Circle, rated seventh through tenth, respectively.
The study analysed the 50 fintech companies on Forbes’ 2022 Fintech list based on four criteria: total funding raised, latest known valuation, the number of Twitter followers as of August 10, 2022, and the number of annual global searches according to Google Ads Keyword Planner between July 2021 and June 2022. The average of all four scores was used to calculate the final ranking.
According to research, the fintech industry is predicted to be valued at more than £150 billion ($171 billion) in 2022, and analysts predict the amount will surpass £175 billion ($228 billion) by 2024.
According to the report, Robinhood was the most prominent financial technology startup in terms of funding and Google searches in 2021, surpassing all other financial technology businesses.
Stripe, Kraken, Klarna, and Wise were the remaining four of the top five most influential fintech companies of the prior year. This year, Robinhood, Kraken, Klarna, and Wise did not make the list of the top 50 fintech businesses compiled by Forbes.
Half of the most significant businesses in the fintech industry in 2022 originated from the cryptocurrency and blockchain sector, which has been severely impacted by the bear market and beset by many bankruptcies and regulatory uncertainty, making their findings all the more noteworthy.