Forbes has just released its listing of the top 50 financial tech companies in the world. Nine of them come from the cryptocurrency industry.
In 2021, as the global health crisis drove more purchasing and banking online and the price of bitcoin and tech stocks rose, crypto investors and venture capitalists allocated more money in fintech.
According to a survey by CB Insights, global investment in the sector totaled $132 billion. This amount is roughly three times the $49 billion budgeted the previous year.
Today, despite the pandemic rearing its ugly head in the midst of a crypto winter, there are more crypto companies on Forbes’ list of the top 50 Fintech companies for 2022 than there were a year ago.
Suggested Reading | Research Shows Over 90% of U.S. Companies Accepting Crypto Record Sales Increase
9 Crypto Firms Make The List In 2022 Forbes Fintech 50
This year’s Forbes Fintech 50 list has a record nine cryptocurrency-focused companies — an honor roll of the most progressive private fintech startups.
The nine crypto companies raised a total of $6.5 billion in venture money, according to the business publication. A substantial portion of this has occurred within the past year.
Last year, when Bitcoin reached over $68,000, crypto companies witnessed a wave of new clients. Forbes’ 2022 list includes four new crypto and blockchain luminaries.
FTX secures $1.5 billion in private capital and is valued at $32 billion, according to Forbes (Forkast News).
Sam Bankman-Fried’s FTX Leads The Pack
The cryptocurrency exchange FTX, founded by billionaire Sam Bankman-Fried, leads the pack, securing $1.5 billion in private capital and is valued at $32 billion, according to Forbes.
Forbes stated, in reference to the growing number of crypto startups on the Fintech 50 list this year, that crypto enthusiasts are increasingly adjusting to the realities of a negative or declining market. Forbes believes that such gains must be sustained.
OpenSea, which ranks second on this list, has become the go-to exchange for buying and selling NFTs, completing over $3 billion in transactions per month.
(Source: BeInCrypto/Forbes)
Alchemy, Ava Labs, Circle, Others Round Off The List
On third place is Alchemy, the web3 infrastructure provider, with a total funding of $413 million from Andreessen Horowitz, Lightspeed Venture Partners, Silver Lake, and others. Alchemy has a market cap of $10.2 billion.
Ava Labs, the developer of the Avalanche blockchain, comes in at number four. Forbes does not disclose the market capitalization of Ava Labs, but the company’s native cryptocurrency AVAX is estimated to be worth approximately $8.5 billion.
Crypto total market cap at $1.21 trillion on the daily chart | Source: TradingView.com
Circle Internet Financial, the company behind the stablecoin USD Coin, ranks fifth. BlackRock and Fidelity have provided Circle Financial with $1.5 billion in funding, allowing it to enter the list. Circle has a market value of $9 billion.
Rounding off the sixth to ninth place are Chainalysis, Fireblocks, Paxos, and TRM Labs, with a combined market cap of nearly $20 billion.
Suggested Reading | Crypto Industry Shows Some Love To New ‘Industry-Friendly’ Bill Regulating Digital Assets
Featured image from YouTube, chart from TradingView.com
