Canada's Fintech Market: Crypto Takes the Crown

posted  7 Feb 2024
Photo - Canada's Fintech Market: Crypto Takes the Crown
KPMG's 2023 report reveals that cryptocurrency and blockchain have become the frontrunners in Canada's fintech sector, outpacing other areas despite a general decline in transaction volumes and deal values.

This trend was partly fueled by the anticipation surrounding the approval of spot Bitcoin ETFs in the USA.

With 31 deals recorded, the blockchain sector has surpassed its fintech counterparts, including SaaS and AI.

The report emphasizes 2024 as a pivotal year for the crypto and blockchain sectors as they tackle funding challenges and aim to leverage opportunities in the swiftly growing market.

The anticipated roll-out of open banking legislation is poised to further enhance investor trust in blockchain-based financial solutions.

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