PUBLISHER: Inkwood Research | PRODUCT CODE: 1214645
PUBLISHER: Inkwood Research | PRODUCT CODE: 1214645
The Japan fintech blockchain market is projected to record a 42.19% CAGR during the forecasted period, 2023-2030. The growing adoption of the fintech blockchain technology owing to its low infrastructure cost requirements and potential use in safe transactions drives the market growth in the country.
Blockchain technology can develop and build a secure value transfer system that streamlines business processes across financial industries. Fintech has the potential to discover new industries, significantly changing the operation processes, cash flows, and funding. Moreover, the IT industry has been tilting toward offering new financial services outside Japan in the past few years. Using its financial institutions and technologies, Japan collaborates with various companies to offer new services and conduct practical experiments.
In addition, cryptocurrencies, with the use of its core technology, blockchain, are predicted to be leveraged across various fields and are anticipated to produce opportunities to make Japan a competitive market internationally.
Furthermore, Japan blockchain Association was established to contribute to the development of the Japanese economy by offering safer and more securer services that use blockchain, including representative Bitcoin. This contribution is set to boost the overall financial scenario of the country and drive the demand for fintech blockchain in Japan.
Key players in the market include: Microsoft Corporation, Accenture, Bitfury, Ripple Lab Inc, etc.