July 16, 2024
Fintech Investments To Be Prioritized in France and Germany in 2023 Using Crypto
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Fintech Investments To Be Prioritized in France and Germany in 2023 Using Crypto

Despite the worldwide financial market slowdown, the cryptocurrency and blockchain industries were able to dominate investments in several significant European markets.

The first half of 2023 saw a 50% decline in fintech investments in the Europe, Middle East, and Africa (EMEA) area, according to the “State of European FinTech” report from the Amsterdam-based fintech venture fund Finch Capital. From $27.3 billion in H1 2022 to $11.2 billion in H1 2023, overall financing decreased.

But when seen as a whole, cryptocurrency businesses stand out, taking the lead in capital garnered across multiple sizable marketplaces. In H1 2023, 28% of all fintech agreements in the United Kingdom were in the blockchain and cryptocurrency space. In the Netherlands, this percentage is considerably higher, at 35% of all deals. The shares of cryptocurrencies are 27% and 29%, respectively, in Germany and France.

The loan industry is crypto’s main rival; in terms of deal volume, it appeared to dominate the market in Ireland and the rest of the area.

Despite the overall unfavourable trends in fintech, investors’ interest in the online economy seems to be strong. Another recent study found that 24% of asset management companies had a digital asset strategy in place, with an additional 13% expecting to do so in the following two years.

Additionally, several cryptocurrency businesses continue to post large gains. In Q2 2023, for instance, European digital asset management company CoinShares reported a total revenue of 20.3 million pounds ($25.9 million), up 33% from the same period the year before.

Image: Freepik

Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.

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