Five of the 10 most influential fintechs in 2022 are crypto companies
The expansion of the financial technology industry is sweeping the globe like a tidal wave, bringing with it digital payment wallets, investment platforms and cryptocurrency exchanges.
Notably, five of the ten most prominent fintech organizations in 2022 are crypto companies, according to a study shared with Finbold on September 20 by Terms of use. This research took into account various factors, including value, funding, social following and internet visibility, to arrive at an overall fintech index score.
Among the top ten firms, OpenSea, the world’s largest non-fungible token (NFT) marketplace, was ranked second and highest among blockchain and cryptocurrency firms on the list with an overall fintech score of 8.61, just behind personal finance company Chime .
The other crypto and blockchain companies in the top ten include cryptocurrency exchange FTX, Chainalysis, Fireblocks and Circle, which are ranked in that order from seventh to tenth place.
The study analyzed the 50 fintech companies on Forbes’ 2022 Fintech list based on the following four factors: total funding raised, last known valuation, number of Twitter followers as of August 10, 2022, and number of annual global searches between July 2021 and June 2022 in according to the Google Ads keyword planner.
Each company was assigned a normalized score out of ten for each factor, and the average of all four scores was used to determine the final ranking.
The fintech sector is expected to continue to grow in 2022
Interestingly, the fintech sector is expected to be worth more than £150 billion ($171 billion) in 2022, and experts expect the figure to exceed £175 billion ($228 billion) by 2024, according to the report.
According to the data, Robinhood was the most prominent fintech company, topping all other fintech companies in terms of funding and Google searches in 2021.
The remaining four of the top five fintech companies from the previous year were Stripe, Kraken, Klarna and Wise. This year, Robinhood, Kraken, Klarna and Wise did not make Forbes’ rbes’ list of the 50 best companies in the fintech industry.
Half of the most influential organizations in the fintech industry in 2022 came from the cryptocurrency and blockchain sector, which has been hit hard by the bear market and has also been plagued by multiple bankruptcies and regulatory uncertainty, making their conclusions all the more intriguing.
