Home Business NewsBusinessBusiness Growth News Three crypto firms land on the world’s top 10 leading fintech unicorns list

Three crypto firms land on the world’s top 10 leading fintech unicorns list

by LLB Finance Reporter
30th Mar 23 1:28 pm

Cryptocurrency startups are aiming to disrupt traditional financial services by offering innovative solutions that are often more efficient than their legacy counterparts.

In this line, data acquired by Finbold indicates that three cryptocurrency firms with a cumulative valuation of $42.3 billion made it to the list of top 10 leading fintech unicorns globally as of Q4 2022. The top ten fintech unicorns account for a total valuation of $273.7 billion.

A breakdown of the crypto firms shows that United States-based Ripple has a valuation of $15 billion to rank fifth overall. Blockchain.com ranks sixth overall with a valuation of $14 billion. Non-fungible tokens (NFTs) marketplace OpenSea with a valuation of $13.3 billion, emerged as the eighth most valuable fintech unicorn globally.

Elsewhere, payment giant Stripe is the most valuable unicorn at $95 billion, followed by Checkout.com at $40 billion. United Kingdom-based challenger, bank Revolut, is third at $33 billion, followed by Chime at $25 billion. Other unicorns in the top ten category include Plaid ($13.5 billion), Deviated Health ($12.6 billion), and Brex ($12.3 billion).

Increasing relevance of crypto in traditional finance

The research highlighted the implication of crypto firms making it to the list of most valuable unicorns globally. According to the research report:

“The emergence of blockchain-centered firms in the top list of unicorns is a significant milestone demonstrating the increasing relevance and importance of the crypto industry in the financial sector. Traditionally, fintech unicorns have been dominated by payment, banking, and remittance platforms, but the entry of crypto-based companies appears to disrupt the industry’s landscape.”

Looking ahead, there seems to be a positive outlook among crypto companies to increase their valuations, as many are directing their attention towards developing new products in Web3, despite the prevailing market conditions.

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