Forbes, the leading American business magazine that publishes bi-weekly articles on finance, industry, investing, and marketing topics, have published their annual Forbes Fintech 50 2019 List. This year’s list features 6 blockchain-related companies that have been steadily developing and innovating, in defiance of 2018’s bear market.
The most notable crypto/blockchain-related fintech companies that made the list are Ripple, Coinbase, and Circle. The other 3, lesser-known, crypto-related fintech companies are Gemini, Bitfury, and Axoni.
To many, it comes as no surprise that Ripple made the Forbes list, as the US-based technology company has accomplished a lot in 2018. As previously reported by IIB, Ripple made many breakthroughs in fintech, blockchain technology, adoption, and partnerships over the course of the year.
For instance, Ripple’s global payments network, RippleNet, serves more than 100 financial institutions in 40 countries. 2 of the more prominent implementations of RippleNet are with Santander’s OnePay FX, and CoinOne Transfer’s Cross that leverage RippleNet for remittance services.
The global payments network has provided on-demand liquidity for cross-border payments, using the XRP digital asset through Ripple’s xRapid system, enabling fast, cheap, and transparent payments.
Moreover, a more recent partnership Ripple achieved has been with Coingate, a global cryptocurrency payment gateway servicing more than 4,500 merchants. Clearly, Ripple is already seeing massive success and continued growth as we head into 2019.
Despite the declining price of cryptocurrencies across the board, the US-based crypto exchange, Coinbase made the Forbes list as well. As of late, Coinbase is arguably the most valuable company in the cryptocurrency ecosystem, with a valuation of $8 billion after a $300 million funding round from crypto-friendly venture groups.
Additionally, Coinbase has launched a myriad of new products, including crypto-to-crypto trading, new altcoin listings, support for Circle’s USD Coin, PayPal withdrawals, a crypto custody service, and a revamped version of Earn.
Circle is a notable blockchain-related company, backed by Goldman Sachs, that serves over 8 million customers from over 175 countries. The company currently has 3 primary products including the crypto exchange Poloniex, the cross-border payments app Circle Pay, and the OTC trading desk Circle Trade.
In 2018, Circle’s 8 million customers collectively made over 200 million transactions amounting to $75 billion, and the company’s over-the-counter (OTC) trading desk traded $24 billion in Bitcoin and altcoins. .Circle is clearly a major player in the fintech industry and is well-deserving of their spot on Forbes list.
What do you think these blockchain-related fintech companies will accomplish in 2019? Let us know what you think in the comment section below.
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