KPMG: Coinbase, Binance, and Robinhood Are in Top Fintech100

November 20, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

KPMG this week released its new annual Fintech100 report for 2019. Firms associated with the blockchain and cryptocurrency industry generally lost ground a bit, but are still on the list.

As in the past year, the leading Chinese payment company Ant Financial, valued at $83 billion, won the first place. The second spot was taken by Grab, a Singapore based technology company offering ride-hailing services, payment solutions, and food delivery, followed by JD Finance, which uses blockchain along with other technologies in its activities.

The Robinhood Securities and Cryptocurrency Trading Application dropped from eighth to fourteenth, Revolut took 26th, Coinbase 34th, and Liquid 38th. Also among the developing companies in the fintech industry was included the Binance exchange.

Commenting on the development of Chinese companies on the list, KPMG head of fintech Chris Wang said:

“As fintech development continues to go strong in China, we see some changes in China’s fintech landscape. Aligned with trends we observe globally, we see an increasing number of wealth, insurance, and multi-sector companies in China on the list, which indicates that technologies and innovations have spread into more financial services sectors.”

According to KPMG, a total of Fintech100 companies have raised $18 billion over the past year and over $70 billion since its inception. The client base of such firms is estimated at more than 2.5 billion people worldwide. Their rapid development was made possible, in particular, thanks to the principles of open banking, which they adhere to.

Author: Marko Vidrih