European Blockchain in the BFSI Soars: Pioneering Growth Amid the Digital Revolution: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Europe Blockchain in the BFSI market is anticipated to grow at a CAGR of 65% in the forecasted period of 2022-2028. The market is making significant growth owing to factors like growing demand for comprehensive security procedures, higher compatibility with the financial services sector ecosystem, and faster and less expensive cross-border payment systems. Story Outline Europe Blockchain in the BFSI Market made significant growth post-pandemic. In 2022, the European Investment Fund signed a financing contract worth $72 Bn. The BFSI sector contributes around 8% of the total economic output of the United Kingdom, the largest market of blockchain in BFSI in Europe. A blockchain platform called CLS and one of the top leaders in European blockchain in the BFSI market, IBM, announced their alliance in July 2018. According to Ken Research, European blockchain in the BFSI market has made remarkable growth in the last few years. The market consists of a total of 40 countries across Europe but a few countries such as the United Kingdom, Germany, Italy, and France are the most dominant regions in the whole market. Europe blockchain in the BFSI market is filled with tech-savvy, robust, and “think big” players running the market with innovative and disruptive blockchain solutions. London Stock Exchange is the biggest stock exchange in Europe’s BFSI market. 1. Impact of COVID-19 on Europe Blockchain in the BFSI Market The transparency of financial activities has been considerably improved by this blockchain technology. Around 50% of clients engaged in the financial market throughout the pandemic using digital channels, which creates the need for customer protection in the BFSI markets. The majority of businesses in Europe have incorporated blockchain technology into their operations to strengthen their position in the industry and get a competitive edge. IBM, Microsoft, Intel, Oracle, Daimler, and other businesses exploited blockchain technology throughout the COVID-19 epidemic. After 2020, the financial market began to expand in tandem with the pandemic-related company growth, and the GDP increased once more. Europe Blockchain in the BFSI Market made significant growth post-pandemic. In 2022, the European Investment Fund signed a financing contract worth $72 Bn. Click Here to Learn More About Impact of COVID-19 on the Market 2. Current Situation of Europe Blockchain in the BFSI Market Europe Blockchain in the BFSI Market is projected to grow at a CAGR of 65% in the forecasted period of 2022-2028 as the market is set to witness huge investments from customers and key players. Dominant countries of the Europe Blockchain in the BFSI Market are setting the benchmarks for themselves in the above-mentioned forecasted period. The BFSI sector contributes around 8% of the total economic output of the United Kingdom. The increasing influence of digital currency and digitalization in Europe Blockchain in the BFSI Market are contributing hugely to the growth of this particular market. The Digital Payment Market in Europe is expected to reach $22 Bn by the end of 2030. Click Here to Learn More About Current Situation of the Market 3. Growth drivers of Europe Blockchain in the BFSI Market The primary growth drivers of the market are the growing demand for comprehensive security procedures, higher compatibility with the financial services sector ecosystem, and faster and less expensive cross-border payment systems. Blockchain’s decentralized and unchanging nature improves security within the BFSI division. Transactions are recorded in a tamper-resistant way, lessening the hazard of fraud and unauthorized access. This level of security is especially critical in financial services, where sensitive client data, transactions, and resources are involved. Blockchain technology offers a way to coordinate diverse components of the monetary services environment, streamlining processes, and decreasing friction. Its straightforward and decentralized nature permits different financial institutions, mediators, and partners to associate more effectively, moving forward transparency and diminishing the need for mediators in complex processes. Cross-border payments in traditional frameworks can be slow, expensive, and subject to mediator fees. Blockchain’s capacity to encourage peer-to-peer transfers and settlements in near-real time can altogether improve the speed and cost-effectiveness of cross-border transactions. This addresses pain focuses within the BFSI segment and can lead to expanded adoption by financial institutions seeking to improve their payment frameworks. To learn more about this report Download a Free Sample Report 4. Major Players in Europe Blockchain in the BFSI Market Some of the prominent players in the market are Accenture, Amazon Web Services, Group Limited, Hewlett Packard Enterprise Development (HPE), IBM Corporation, Intel Corporation, Microsoft Corporation, Oracle Corporation, Ripple Labs Inc., and SAP SE. A blockchain platform called CLS and one of the top leaders in European blockchain in the BFSI market, IBM, announced their alliance in July 2018. Nine additional budgetary administration companies, including the banks Barclays and Citi, have joined this platform in addition to IBM. In May 2019, three Irish banks (Institution of Banking, Bank of Ireland, AIB, and Ulster Bank) and Deloitte, another significant player in the sector, tested data management on the Ethereum blockchain for staff credential verification. Visit this Link: – Request for custom report Conclusion In the dynamic landscape of the European BFSI blockchain market, accelerated growth is clear as it grasps advancement and disruption. Ruled by tech-savvy frontrunners, including the UK, Germany, Italy, and France, the market flourishes on comprehensive security measures, consistent financial ecosystem integration, and quick cross-border payments. The pandemic catalyzed digital adoption, cultivating straightforwardness and customer safeguarding. With an anticipated CAGR of 65%, blockchain’s transformative potential sparkles because it meets with digital currencies and payments. As behemoths like IBM and Amazon forge alliances, the market moves towards a decentralized, secure, and productive financial future. 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