KPMG Rankings Show a Drop in Bitcoin Yet a Reinforced Cryptocurrency Innovations

KPMG, a Big Four auditing firm, shared its new 2019 Fintech100 list where bitcoin-centric businesses slipped down the rankings but payment innovations were a noticeable change.

KPMG, the big four auditing firm shared its 2019 companies list, Fintech100 rankings. This list contains the 100 top Fintech entities globally. According to these rankings, Bitcoin-based Company has dropped. On the other hand, payment industries have a strong showing on the rankings.

Just like it was in 2018, the Ant financial company founded by the owner of Alibaba, Jack Ma led the list. This Ant financial company controls one of China’s payment systems known as Alipay which has a value of 83 billion dollars.

JD Finance took the third position among the entities that are in both blockchain and cryptocurrency. Grab, an application for a ride company (like Uber) led the list. In Singapore, Grab is used as a payment system.

Robinhood failed to maintain its 2018’s 8th position and dropped to 14th this year. KPMG rankings have shown reinforced cryptocurrency innovations. Other blockchain-based companies that featured in the list were One Connect at 18th position, Coinbase at 34th, Banketa at 42, Liquid at 38th, and Revolut on 26th. According to Chris Wang, Partner of KPMG China,

“As fintech development continues to go strong in China, we are seeing 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.”

Companies that appeared in the list for the first include Tokeny, Silot, Binance, Moin, and MemaPay among others.

The companies in the Fintech 100 list raised 70 billion dollars in their lifetime and 18 billion dollars in the last financial year. These companies serve customers over 2.5 billion around the world. According to KPMG, the companies in the Fintech 100 ranking have enjoyed the benefit of open banking.

Here is a snapshot of the top 50 rankings from the KPMG list:

kpmg-crypto-rankings

These companies have been able to improve customer banking as a result which has greatly improved their services and experience.

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