Forbes Magazine has released its third annual “Fintech 50” roundup, which highlights some of the most exciting financial technology companies around the world. In this latest edition, eleven spots are held by companies invested in working with blockchain technologies or cryptocurrencies—five of whom are making their Fintech 50 debut.
This is a welcome break from the near-constant coverage of price volatility that enthusiasts have been reading all year, and is a reminder that much of what makes people anxious about the market is underpinned by functional technology. Laura Shin, co-reporter of the list, wrote that “beneath the headlines, the nine blockchain startups on the Forbes Fintech 50 list for 2018 are building infrastructure—to support both public cryptocurrency markets and initiatives that could transform how current financial transactions are executed and recorded.” With high potential for the disruption of industries, these companies are laying the foundation for the future of blockchain and cryptocurrency.
The list includes companies offering a variety of Fintech solutions. The Bitfury Group has developed software that can be used to manage supply chains and support blockchains for use by governments. Chainalysis can help law enforcement agencies trace cryptocurrency transactions, following criminals into the nethers of the darknet. Chain, which recently collaborated with Visa on a service called B2B Connect, offers ledger balance software that makes financial recordkeeping more efficient. Also making the list are Coinbase, Ripple, Blockchain, ShapeShift, Symbiont, Xapo, Robinhood, and Veem. Each has its own slice of the crypto pie that is growing in the Fintech kitchen.
The companies representing the blockchain and cryptocurrency industry have an impressive clientele, including financial titans like CME Ventures, Santander, and American Express; crime-fighting organizations like the DEA, FBI, and Europol; and the state of Delaware, which enjoys its reputation as the incorporation capital of America. Together, these companies and the clients they serve are working to solve complicated problems using blockchain-based solutions, effectively becoming ground zero for innovation in Fintech.
Across the industry, there’s still plenty of action to come in the kitchen. Next year’s Fintech 50 may not be as generous with its portions as the 2018 edition—but this year, blockchain is hungry.
Featured Image: Forbes Magazine Building by Elisa Rolle, Wikimedia Commons